Allocation of over 90% of medium-term public investment capital
Implementing the 2021-2025 medium-term public investment plan, Nghe An has so far completed allocating over 99% of the total capital plan to localities and units, helping to implement hundreds of works and projects in the province.
Capital allocation completed over 99%
Traveling on the main traffic routes of Vinh city these days, one can clearly see the remarkable changes in infrastructure. Among them, many routes have been upgraded synchronously and modernly such as Le Nin, Le Hong Phong, Minh Khai, Nguyen Van Cu…
In particular, in parallel with upgrading the road surface, drainage channels are also synchronized, helping to drain water faster and prevent flooding effectively.
Upgrading Vinh city roads is one of more than 120 projects allocated public investment sources for the 2021-2025 period. According to the Department of Planning and Investment, the allocation of capital for the medium-term plan for the 2021-2025 period basically ensures the correct principles and priority order according to regulations.
The total medium-term public investment capital plan for the 2021-2025 period reached VND 20,914.7 billion, of which the initial allocation was VND 19,768 billion; the additional allocation during the period was VND 1,184.3 billion. Specific results as of October 2024, VND 20,796.5 billion had been allocated in detail, reaching 99.44% of the total plan. The unallocated amount was VND 118.12 billion (local budget source), accounting for 0.56% of the total plan.
To clarify this content, a representative of the Department of Planning and Investment said that among the projects that have not yet allocated capital, the ODA projects that are under negotiation and waiting for the Prime Minister's decision on policy is 88 billion VND, which has not been allocated during the period because there are no projects that meet the conditions according to regulations.
Currently, there is only one project that has been appraised, the Nghe An Province Sustainable Aquaculture Development Project, which is expected to use VND 30 billion from ODA capital. However, the project proposal is being adjusted due to changes in the financial mechanism. In addition, the investment preparation and other planning capital is more than VND 30 billion, expected to be allocated in the 2025 plan to prepare for investment in new projects expected to start construction in the 2026-2030 medium-term plan and some other plans according to current regulations.
Adjust capital plan to ensure efficiency
Regarding the results of allocating medium-term public investment capital, Mr. Ho Viet Dung - Deputy Director of the Department of Planning and Investment said that the implementation of the medium-term public investment plan for the period 2021-2025 has been built to ensure the principles, criteria, and priority order according to regulations. Focus on investment with focus and key points, gradually overcoming the situation of scattered and spread-out investment. The annual plan must be consistent with the assigned medium-term plan. The work of formulating, appraising, approving investment policies, and deciding on basic investment must be in accordance with the procedures and regulations.
The Provincial People's Committee, directly the Department of Planning and Investment, has proactively guided units to prepare documents and procedures early, so the work of assigning medium-term and annual plans has been basically implemented promptly. The Provincial People's Committee, together with the Working Group in charge of public investment, regularly monitors and urges coordination between departments, branches and district People's Committees regularly and continuously, ensuring close adherence to progress. In addition, it grasps difficulties and problems to promptly report to competent authorities for resolution. The mobilization and integration of basic capital sources have been more effective and positive than in the previous period.
In addition to integrating sources of increased revenue and annual surplus to complete projects in the assigned medium-term plan, especially key projects such as the coastal road project, Vinh - Cua Lo Boulevard, traffic route connecting National Highway 7C (Do Luong) to Ho Chi Minh Road (Tan Ky), for projects arising in the medium-term, the Provincial People's Committee has also directed the Department of Finance to advise on handling, contributing to solving investment needs, helping to put into use many works and projects, creating new increased capacity in the area.
Public investment sources for the period 2021-2025, in the years 2021-2023 alone, have been allocated to 407/456 projects, reaching 89%. Of which, 23 projects have been completed; 182 projects are being implemented; 02 projects are still facing difficulties in implementation. Of the 407 projects with allocated capital, the Provincial People's Committee has made adjustments in accordance with the actual implementation each year.
Specifically, in 2021, there will be 5 adjustments with 80 projects with an adjusted capital of more than 225 billion VND (5 projects adjusted down, 25 projects adjusted up). In 2022, there will be 5 adjustments with 6 projects, with a total adjusted capital of more than 235 billion VND (36 projects adjusted down, 03 projects adjusted up). In 2023, there will be 4 adjustments, corresponding to 81 projects with an adjusted capital of more than 423 billion VND (43 projects adjusted down and 83 projects adjusted up).
In addition to adjusting the capital plan, the Provincial People's Council also adjusted the investment policy for projects under the medium-term public investment source. Specifically, the total number of projects that the Provincial People's Council adjusted the investment policy for since the beginning of the period is 73 projects with 41 adjustments.
Assessing the effectiveness of the province's medium-term public investment allocation, comrade Nguyen Nam Dinh - Member of the Provincial Party Standing Committee, Permanent Vice Chairman of the Provincial People's Council said that through the supervision of this content of the Provincial People's Council which has just been completed, it shows that the implementation of the public investment plan for the period 2021-2025 has contributed to significantly changing the infrastructure and socio-economic structure of the province, creating conditions for economic growth as well as attracting other capital sources. Public investment resources as well as promoting the disbursement of public investment resources in the past time are important factors, the seed capital to mobilize all resources to contribute to promoting the recovery and socio-economic development of the province.
