Nghe An Provincial People's Council passed the Resolution on the Public Investment Plan for 2024.

Considering the proposal of the Provincial People's Committee in Submission No. 10089/TTr-UBND dated November 25, 2023, the Verification Report of the Standing Committee of the Provincial People's Council, and the discussion opinions of the Provincial People's Council delegates at the session. On December 7, at the 17th session of the 18th Provincial People's Council, the Provincial People's Council passed the Resolution on the Public Investment Plan for 2024.

The issuance of the Resolution is carried out from the viewpoint of closely following and concretizing the goals of the 2024 socio-economic development plan and the medium-term public investment plan for the 2021-2025 period; investing with focus and key points, concentrating on priority areas, ensuring both growth promotion and ensuring social security and national defense and security.

Continue to restructure public investment in a concentrated direction, overcome the situation of scattered and prolonged investment, and improve investment efficiency. The allocation for tasks and projects must be consistent with the implementation and disbursement capacity in the year, and the allocation progress must be ensured, and detailed plans for tasks and projects must be assigned in accordance with regulations.

Prioritize capital allocation to complete overdue projects, projects that are due must have sufficient capital allocated to complete within the year according to the capital allocation time and transition projects according to progress. Strive to reduce the implementation time and capital allocation of group A, group B, group C projects compared to the maximum time specified in Article 52 of the Law on Public Investment, put the works into use soon, and promote investment efficiency.

For new projects in the medium-term plan that have not yet started construction, review and balance resources and the ability to complete procedural documents to arrange capital for new construction to ensure completion of the medium-term plan on schedule.

Strengthen discipline and order in public investment, strictly handle violations according to regulations, strive to achieve the disbursement rate of public investment capital at 95-100% in 2024.

Public investment orientation in 2024: Focus on investing in key, urgent projects with breakthroughs in socio-economic development to soon complete and put into use, promoting efficiency.

Regarding the land use revenue, the province shall invest in concentrated public investment, with priority given to key and urgent projects in the fields of transportation, irrigation, and public infrastructure. Regarding the land use revenue that the district and commune enjoys according to decentralization, the districts and communes shall allocate it according to the prescribed principles and criteria, with priority given to the allocation of counterpart funds for national target programs, counterpart funds for projects using the provincial budget, the central budget, and government bonds according to the approved capital structure, and projects in the field of education and training to ensure the structure assigned by the central government.

Regarding lottery revenue, priority should be given to investment in education, training and public health.

Regarding investment capital: Total state budget capital in 2024: 9,076.67 billion VND, of which 4,628.57 billion VND will be put into concentrated public investment under the management of the province.

Details by capital source are as follows:

a) Central budget source: 2,916,069 billion VND. Of which:

- Domestic capital: 2,781,275 billion VND. Of which:

+ Investment in regional connectivity projects, coastal roads, and other key projects: 768 billion VND.

+ Arrange capital repayment for projects under the Socio-Economic Recovery and Development Program: 263.51 billion VND.

+ Capital to implement the National Target Program: 1,392,395 billion VND (including: National target program on socio-economic development in ethnic minority and mountainous areas: 799,147 billion VND; National target program on sustainable poverty reduction 247,343 billion VND; National target program on new rural areas 345,905 billion VND.

+ The remaining investment for industries and fields according to Resolution 973/2020/UBTVQH14 of the National Assembly Standing Committee: 357.37 billion VND.

Foreign capital: 134,794 billion VND. Of which, capital for implementing the national target program for new rural areas: 96,824 billion VND.

b) Local budget source: 6,160,601 billion VND. Of which:

Domestic capital construction expenditure: 1,329,501 billion VND.

Investment from land use revenue: 4,560 billion VND, of which:

+ District and commune budgets enjoyed according to decentralization: 2,845,054 billion VND.

+ Provincial budget: 1,714,946 billion VND, of which 255 billion VND is put into public investment focusing on land use revenue, 100 billion VND is added to public investment focusing on domestic capital construction expenditure, the remaining capital of 1,359,946 billion VND is arranged in the state budget estimate for site clearance, debt repayment, and land development fund supplementation...

Investment from lottery revenue: 28 billion VND.

Investment from local budget deficit: 243.1 billion VND, assigned in the 2024 State Budget estimate.

Thus, the local budget source for concentrated public investment is 1,712,501 billion VND.

The development of the 2024 state budget public investment plan for tasks and projects under the medium-term public investment plan for the 2021-2025 period and tasks and projects under the Socio-Economic Recovery and Development Program must be consistent with the implementation and disbursement capacity of each project in 2024, ensuring that detailed allocation and assignment of tasks and projects can be made before December 31, 2023, thoroughly overcoming the situation of slow allocation and assignment of detailed plans for tasks and projects.

Regarding capital allocation priority: Arrange sufficient capital to repay tasks and projects under the Socio-Economic Recovery and Development Program; sufficient capital for 03 National Target Programs and coastal road projects according to the capital assigned by the Central Government.

Allocate sufficient capital for completed projects, handover and put into use before December 31, 2023; overdue transfer projects, transfer projects must be completed in 2024 according to the capital arrangement time; in case of insufficient capital arrangement, report to the Provincial People's Council for permission to extend the capital arrangement time to the following year according to regulations in Clause 2, Article 52, Law on Public Investment.

Allocate capital for investment preparation tasks, planning, and counterpart capital for projects using ODA capital and preferential loans from foreign donors. For investment preparation capital for new projects starting in the 2026-2030 period, assign departments, branches, sectors, and People's Committees of districts, cities, and towns to prioritize allocating state budget capital or mobilizing other legal capital sources such as increased revenue, expenditure savings, sponsored capital, socialized sources, etc. to proactively prepare for investment with quality and efficiency.

Allocate capital according to progress for key local and inter-regional projects and transitional projects according to approved progress.

For ODA capital: The planning arrangement must comply with the provisions of the Law on Public Investment, the Law on State Budget, the Law on Public Debt Management and the Decrees guiding the implementation. At the same time, it must be consistent with the content of the Agreement, ensuring progress and other commitments signed with the sponsor, the ability to balance counterpart funds, the capacity of the program and project investors and the project implementation progress, ensuring the order of priority according to regulations.

For projects completed and put into use before December 31, 2023, the transitional project has now exceeded the capital allocation time as prescribed, the transitional project must be completed in 2024 according to the capital allocation time using local budget capital but due to problems, capital has not been allocated or has not been allocated enough to complete in 2024, allowing the capital allocation time to be extended to the following year.