Solutions are needed to address outstanding debts in basic infrastructure investment.

(Baonghean.vn) - In preparation for the 14th session of the 16th Provincial People's Council, on the afternoon of June 26th, under the chairmanship of Comrade Vo Viet Thanh - Member of the Provincial Party Standing Committee, Secretary of Vinh City Party Committee, and Head of the Economic and Budget Committee of the Provincial People's Council, the Economic and Budget Committee of the Provincial People's Council conducted an inspection of several issues related to the economic and budget sector for the first six months of 2015 and the tasks for the last six months of 2015.

Also attending the inspection were comrades Le Minh Thong - Member of the Standing Committee, Chairman of the Provincial Party Committee's Inspection Committee, member of the Economic and Budget Committee of the Provincial People's Council; and Vice Chairmen of the Provincial People's Committee Hoang Viet Duong and Huynh Thanh Dien.

Comrade Vo Viet Thanh presided over the inspection.

During the inspection, delegates highly appreciated the decisive involvement of the entire political system in promoting and attracting investment in basic infrastructure construction, creating positive changes. As of June 15th, the province had issued and adjusted investment certificates for 93 projects, with a total registered investment capital of over 27,885 billion VND. Of these, 73 projects were newly approved with a total capital of over 27,242 billion VND; and 20 projects were adjusted with an additional capital increase of over 642 billion VND. Notably, the province has focused on implementing investments after attracting investment, resulting in many projects such as the raw water supply project of Tuan Loc Joint Stock Company; investment in berths No. 5 and No. 6 of Cua Lo Port; and the Hoa Sen steel sheet factory project in Quynh Lap (Hoang Mai town).

Comrade Le Minh Thong, Chairman of the Provincial Party Committee's Inspection Committee, suggested that solutions are needed to address outstanding debts in basic construction projects.

Despite the challenging financial conditions, the province has allocated significant resources to prioritize land clearance for several important projects and works that have received investment approval, notably the VSIP Nghe An Industrial Park, urban and service infrastructure construction and operation project in Hung Tay (Hung Nguyen). Simultaneously, it has mobilized total resources and accelerated the construction progress of many important projects such as: the Truong Bon project, which is 86% complete; the Tay Nghe An road, which will be completed by the end of July; and the Chau Thon – Tan Xuan road, which has been under development for many years, is also being expedited. Many irrigation and electricity projects, bringing electricity to the centers of communes that previously lacked power, are also being expedited.

Comrade Hoang Viet Duong - Vice Chairman of the Provincial People's Committee - emphasized the necessity of having a mechanism to mobilize capital for land clearance work for key projects and works of the province.

Comrade Huynh Thanh Dien suggested that debt restructuring and the resolution of outstanding debts for basic construction investment should be carried out step by step.

Besides the positive aspects, delegates also expressed concern about some limitations and obstacles in basic construction investment. These include several projects included in the investment plan that have not yet been disbursed. Projects that were completed and finalized several years ago still have outstanding debts. The Economic and Budget Committee of the Provincial People's Council also recommended that relevant units pay attention to planning the 2016 investment to ensure high efficiency in implementation.

Comrade Nguyen Xuan Hai - Director of the Department of Finance, received the opinions of the Economic and Budget Committee for revision.

Deputy Director of the Department of Planning and Investment, Cao Van Chinh, reported on the draft of several proposals and resolutions to be submitted to the Provincial People's Council at the upcoming session.

Also this afternoon, the Economic and Budget Committee of the Provincial People's Council reviewed the submission from the Provincial People's Committee requesting the Provincial People's Council to issue a Resolution on the mechanism for mobilizing funds for land clearance for some key investment projects of the province in 2015 and subsequent years; a resolution on issuing criteria for key projects and key projects in group C using public investment capital of Nghe An province; and a report on the implementation of the State budget estimates for the first six months of the year, tasks and solutions for the end of 2015.

Mai Hoa