Specifically, during this session, the People's Council of Vinh city issued a resolution on the Public Investment Plan for 2024 with a total capital of over 3.347 trillion Vietnamese dong from the city's budget.
It clearly stipulates the principles, criteria, and allocation plan of the city's budget capital, ensuring priority order: allocating funds to settle overdue payments for basic construction (if any); allocating funds to recover remaining advanced capital that needs to be recovered in the medium-term public investment plan for the 2021-2025 period (if any); allocating funds for completed projects completed and put into use before December 31, 2023.
Subsequently, the city allocates funds for transitional projects that have exceeded the capital allocation time or must be completed in 2024 according to the allocated time, where projects that have surpassed the capital allocation time must provide specific explanations and propose an extension of the capital allocation period as stipulated.
It also allocates sufficient funds for investment preparation tasks, planning tasks, matching funds for projects using ODA (Official Development Assistance) and preferential loans from foreign sponsors, state investment capital participating in projects through public-private partnerships, and the central budget payment obligations. After allocating enough funds for the aforementioned projects, new construction projects were then allocated funds.
Accordingly, the total budget of over 3.347 trillion Vietnamese dong from the city's budget will be allocated to 389 projects, including 66 completed projects, 135 ongoing projects, 80 land fund exploitation projects, 45 investment preparation projects, and 63 new construction projects.
Among the 63 new construction projects, there are several projects that voters and the public have shown interest in, reflected in multiple proposals, such as the Extended Le Mao Street Project, Phase 2; the renovation and upgrading of Nguyen Gia Thieu Street (from Vo Nguyen Hien Street to Ton That Tung Street), Hung Dung Ward; Tran Minh Tong Street Project, from Tran Tan Street to Tue Tinh Street; Upgrading Nguyen Bieu Street, Branch 1, Le Mao Ward; the construction of Vinh's smart urban area - Phase 1, etc.
Additionally, Vinh city also prioritizes new construction projects to tackle localized flooding, renovate and upgrade the main and important transportation systems of wards and communes, urban gentrification projects such as constructing drainage systems for Tran Phu, Phong Dinh Cang, Phuong Hoang, and Doan Nhu Hai streets; constructing the drainage canal system of Nghi Kim - Nghi Van, Phase 2; building regulating lakes in Nghi Phu, Nghi Duc and connecting canal lines; renovating and upgrading Ngo Tuan, Cao Ba Quat, Nguyen Kiem, Tran Van Quang, Ngo Quang, Nguyen Huu Dien, and Minh Tan streets.
