Public investment disbursement rate reaches high

Focus investment capital

Previously, residents of communes along the N5 highway in Do Luong district who wanted to reach Tan Ky district had to detour through Do Luong town and other communes such as Nam Son and Bac Son. Now, that route has been shortened by tens of kilometers with the completion of the road project connecting National Highway 7C (Do Luong) to the Ho Chi Minh Highway (Tan Ky). The new, wide, and modern road opens up new opportunities for socio-economic connectivity for the people of these districts.

The aforementioned road project, with a total investment of over 730 billion VND and a length of approximately 23km, not only connects Do Luong and Tan Ky districts but also shortens travel time from Tan Ky district to National Highway 1A by nearly half, connecting the trade network with industrial clusters and seaports in the southeastern part of the province. This contributes to promoting socio-economic development in the Northwest region of Nghe An province in general, and the three districts of Do Luong, Yen Thanh, and Tan Ky, along with other localities along the "Road 7 economic corridor," in line with the orientation of building four economic corridors in Nghe An as outlined in Resolution 39/NQ-TW of the Politburo on building and developing Nghe An province until 2030 with a view to 2045.

The road project connecting National Highway 7C (Do Luong) to Ho Chi Minh Highway (Tan Ky) is one of the province's key projects, launched in October 2022 and expected to be completed after 38 months. However, as of December 2024, the completed work has reached over 96%, exceeding the projected target...

According to Bui Thanh An, Vice Chairman of the Provincial People's Committee and Head of the Provincial Public Investment Task Force, one of the guiding principles of the Provincial People's Committee in allocating and disbursing public investment capital is to prioritize investment in key projects; to avoid scattered and fragmented investments; and to be determined to achieve a disbursement target of over 95% by the end of 2024.

Accordingly, in 2024, many key projects were focused on, completed, and put into use, such as: the Vinh - Cua Lo connecting road (phase 2), the road connecting National Highway 7C to the Ho Chi Minh Highway (Tan Ky); the coastal road from Nghi Son (Thanh Hoa) to Cua Lo (Nghe An), section Km7+00-Km76+00, is being accelerated. In particular, decisive direction and coordination were focused on completing key central government projects in the area on schedule, such as: the North-South Expressway (Eastern section Dien Chau – National Highway 46B), the 500kV power line project, circuit 3, section through Nghe An province...

Implementing the "5 resolutions" and "5 guarantees"

Nghe An, like other provinces and cities nationwide, identifies the disbursement of public investment capital as one of the top priority political tasks, closely adhering to the guiding principles of the Government, the Prime Minister, central ministries and agencies, and the province, especially Directive No. 26/CT-TTg dated August 8, 2024, of the Prime Minister.

Accordingly, the Government has instructed localities and ministries to resolutely implement the "5 resolutions" and "5 guarantees" in the organization of implementation with the motto: "overcoming the sun, conquering the rain, not losing to the storms", "eating quickly, sleeping urgently", "working 3 shifts and 4 teams", "working throughout holidays and Tet", "only discussing work, not discussing retreat" to strengthen discipline and order, promptly remove bottlenecks and obstacles in the organization of implementation, and accelerate the disbursement of public investment capital in 2024.

Specifically, Comrade Bui Thanh An stated that, in addition to the activities of the Public Investment Task Force and the periodic progress reporting every 10 days, Nghe An province assigns responsibilities for this work according to the principle of "clear person, clear task, clear responsibility, clear progress, and clear results." Leaders are assigned to monitor, increase the frequency of inspections and supervision, and specifically evaluate the results of work implementation each week, closely following the project's progress and the progress of resolving related procedures.

This helps localities, departments, and relevant units to proactively and promptly handle difficulties and obstacles within their authority, or report and propose solutions to competent authorities as prescribed. They should closely monitor weather conditions and developments, effectively develop and implement disaster prevention plans, and proactively develop and organize appropriate construction solutions to ensure progress as approved by competent authorities.

In 2024, the Provincial People's Committee also held an early provincial-level public investment review meeting, working with investors who were slow in disbursing funds or had large amounts of undisbursed capital to provide support and resolve obstacles and shortcomings. At the same time, it reviewed and resolutely adjusted and cut capital plans for projects with slow progress, those that were unlikely to be implemented, or those that did not meet commitments, in order to allocate capital to projects with good progress.

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Consistent with the view of prioritizing investment in key projects, as of December 20, 2024, the total public investment plan has disbursed over VND 7,547 billion, reaching 73.35%, and is expected to reach over 95% by the end of 2024. Attracting investment continues to be a bright spot, with the total newly registered and increased investment capital reaching over VND 61,488 billion; of which FDI capital is expected to reach nearly USD 1.7 billion, the highest ever, placing Vietnam in the top 10 nationwide; striving to achieve a disbursement rate of over 95% as directed by the Prime Minister.