The Standing Committee of Nghe An Provincial People's Council approved the proposed medium-term public investment plan for the 2021 - 2025 period.

On the afternoon of May 10, under the chairmanship of Comrade Nguyen Xuan Son - Chairman of the Provincial People's Council, the Provincial People's Council held a meeting to review the report on the implementation of the medium-term public investment plan for the period 2016 - 2020 and the expected medium-term public investment plan for the period 2021 - 2025.

Attending the meeting were members of the Provincial Party Standing Committee: Le Hong Vinh - Permanent Vice Chairman of the Provincial People's Committee; Nguyen Thi Thu Huong - Head of the Provincial Party Committee's Propaganda Department. Vice Chairmen of the Provincial People's Council: Cao Thi Hien, Hoang Viet Duong. Also attending were representatives of leaders of provincial departments, branches and sectors.

Meeting scene. Photo: Thanh Le

Medium-term public investment capital plan reached 94.31%

According to the report of the Department of Planning and Investment, the total public investment capital plan for the period 2016-2020 was assigned 21,267,247 billion VND. Of which, the local budget capital is 7,217,376 billion VND, the investment preparation capital is 129,736 billion VND (for 76 projects); the project implementation capital is 7,087,614 billion VND, allocated for 793 projects.

Cua Hoi Bridge seen from above. Photo: Le Thang

The central budget source is 14,049,871 billion VND, of which the capital source for implementing target programs (not including ODA project counterpart funds): 4,560,833 billion VND, allocated for 182 projects. The target program counterpart funds for ODA projects is 681.66 billion VND, allocated for 20 projects. The sustainable poverty reduction target program is 1,434,844 billion VND; the national target program for new rural construction is 2,208.5 billion VND.

The results of the implementation of the medium-term public investment capital plan for the 2016-2020 period have allocated VND 20,056,088 billion, reaching 94.31% of the medium-term plan.

Vice Chairman of the Provincial People's Council Hoang Viet Duong speaks at the meeting. Photo: Thanh Le

Based on the socio-economic development goals of the province, the goals and orientations for public investment in the 2021-2025 period, the total estimated capital for the medium-term public investment plan from the state budget for the 2021-2025 period of Nghe An province is 39,154.4 billion VND, of which the central budget capital is 11,278.6 billion VND; investment capital in the local budget balance is 27,875.8 billion VND.

Approving the medium-term public investment plan for the 2021-2025 period

Discussing at the meeting, delegates suggested that the Department of Planning and Investment clarify a number of related issues such as: 35 central capital sources and 123 local budget projects were prolonged beyond the prescribed time.

Delegates are concerned about the allocation of projects to ensure the structure of the projects according to the scoring criteria between sectors and localities. The handling of units with outstanding balances and new additional projects will strictly follow this content.

Director of the Provincial Department of Planning and Investment Nguyen Xuan Duc approved the draft medium-term public investment plan for the 2021-2025 period. Photo: Thanh Le

Delegates expressed concerns about projects in the list of newly started works in accordance with the prescribed principles and criteria; plans to resolve outstanding debts in basic construction in the next 5 years; feasibility of capital investment projects using revenue from land use; the balanced arrangement of public investment projects in the same field in localities; the need to ensure feasibility and ensure a reasonable balance of investment projects in regions; the corresponding ratio of ODA projects according to regulations, etc.

Concluding this content, Chairman of the Provincial People's Council Nguyen Xuan Son acknowledged and highly appreciated the results of implementing the medium-term public investment plan for the period 2016-2020; the disbursement of public investment capital is among the top in the country; projects related to people's lives and projects that people have expressed concerns about have been paid attention to and resolved.

Deputy Head of the Provincial People's Council's Culture and Social Affairs Committee Nguyen Thi Lan spoke about the plan to resolve outstanding debts in basic construction in the next 5 years. Photo: Thanh Le

Regarding the plan for the total capital of the medium-term public investment plan from the state budget for the period 2021-2025 of Nghe An province, the plan is expected to ensure the principles and criteria according to the provisions of the Investment Law and the Provincial People's Council.

Regarding the medium-term public investment plan for the 2021-2025 period, Chairman of the Provincial People's Council Nguyen Xuan Son said that the plan to arrange projects with focus, key points, and close to the actual situation will create momentum for the province's socio-economic development, avoiding scattered investment; balancing the arrangement of capital sources for project implementation; choosing a reasonable order of priority for projects; increasing ODA counterpart capital, limiting new construction starts, etc.

The Chairman of the Provincial People's Council requested the Department of Planning and Investment to absorb the delegates' comments and suggestions to complete the contents of the documents and submit them to the upcoming Provincial People's Council meeting.