Nearly 400 billion VND allocated to 5 projects in Vinh City.

Vinh City is focusing on mobilizing resources to prioritize the construction of urgent projects. Photo: Mai Hoa

In order to address the funding needs to complete a number of unfinished and long-delayed investment projects, and at the same time allocate counterpart funds to implement some urgent projects of the city,City People's CouncilThe city has just passed a resolution to supplement the city's budget for the period 2021-2025 to implement a number of projects in the area.

In recent times, the city has focused on allocating resources to upgrade many roads. Photo: Mai Hoa

Accordingly, there are 3 unfinished, long-standing investment projects that require continued funding to restart or additional capital for appropriate adjustments: the upgrading and expansion project.Le Ninh Streetwith a total additional capital requirement of nearly 100 billion VND; Nghi Kim drainage canal system project (phase 1) with an additional capital requirement of over 22.6 billion VND; Project to thoroughly address environmental pollution at Dong Vinh landfill with an additional capital requirement of over 10.7 billion VND.

These three projects have lengthy investment timelines and have been repeatedly petitioned by the people at voter outreach meetings held by People's Council representatives at all levels; a prime example is the Le Ninh road project, which has dragged on for nearly 10 years.

The median strip on Tran Phu Street has been removed, creating a more open and airy urban space in Vinh. Photo: Mai Hoa

In addition to the three existing projects, there are two new projects whose investment policies and funding structures have been decided by the province, including central government budget, provincial budget, and matching funds from Vinh City.

Specifically, for the project to construct a planned 18-meter road connecting National Highway 46 with the Vinh - Cua Lo Boulevard, the total investment is 145 billion VND; of which 80 billion VND comes from the central government's targeted supplementary budget for the locality and 65 billion VND is from the city's matching budget.

The project to construct a drainage ditch along Le Nin Street, from National Highway 46 to the North Canal, has a total investment of 120 billion VND; of which 100 billion VND comes from the provincial budget and 20 billion VND from the city's matching budget.

Along with the decision to allocate capital for the five aforementioned projects, the City People's Council also instructed the City People's Committee to focus on exploiting capital sources to meet the capital requirements in each investment phase and to decisively clear the land in order to implement the projects on schedule, avoiding delays and increased project costs.