Quang Ninh province has identified public investment as the main driving force for annual economic growth. Therefore, the province has always proactively calculated, balanced, and arranged capital sources from afar and early on to ensure that capital is invested in a concentrated manner, effectively promoting resources, avoiding waste and outstanding debts in basic construction (CDC).
The total public investment capital plan for 2024 after adjustment at the 22nd session of the Provincial People's Council is over 12,000 billion VND, a decrease of over 2,000 billion VND compared to the plan assigned by the Provincial People's Council at the beginning of the year. Currently, the disbursement has reached over 41% of the plan. Compared to the same period in 2023, the disbursement rate of capital sources is lower (44.6%).
Based on the calculations of budget revenue and the need to use medium-term public investment capital for 2021-2025, the Provincial People's Committee has proactively developed a plan, submitted it to the Provincial People's Council and it has been approved by the Provincial People's Council in Resolution No. 212/NQ-HDND dated July 10, 2024, with the total expected public investment capital in 2025 being over 13,400 billion VND, including: Targeted additional capital from the central budget of over 557 billion VND; investment capital in the local budget balance of over 12,800 billion VND (provincial budget of over 9,800 billion VND, district budget of over 3,000 billion VND).
Public investment capital in 2025 will be allocated in detail by the Provincial People's Council and the People's Councils of localities to projects, ensuring the principles according to the Law on Public Investment, the Law on State Budget, the Central Government's directives, Resolution No. 303/NQ-HDND dated December 9, 2020 of the Provincial People's Council on "Decentralization of development investment expenditure tasks; principles, criteria, and norms for allocating public investment capital from local budget sources for the period 2021-2025", Resolution No. 16/NQ-HDND dated July 12, 2023 of the Provincial People's Council on "Amending and supplementing a number of articles of Resolution No. 303/NQ-HDND" and related legal documents.
Along with that, capital will be allocated to ensure a reasonable and effective investment structure among regions, in which priority will be given to investment capital from the state budget for dynamic regions, mountainous regions, border regions, islands, ethnic minority regions and regions with difficult socio-economic conditions. In particular, public investment capital in 2025 will be allocated for concentrated investment, not dispersed or spread out; ensuring effective use of capital; ensuring centralized management, unification of objectives, mechanisms and policies; implementing decentralization in investment management according to the provisions of law, creating initiative for local authorities at all levels in developing and implementing plans; strictly controlling investment capital after decentralization, not allowing overdue debt of construction investment.
Public investment capital in 2025 will be allocated in priority order for payment of construction debt (if any); recovery of advanced capital; projects that have been settled, completed, and handed over for use but have not yet been allocated enough capital; capital to implement transitional projects, especially key and driving projects with great influence; transitional projects using ODA capital and preferential loans from foreign donors (including counterpart capital) to complete; programs and projects according to the Resolution of the Provincial Party Executive Committee and the Provincial People's Council; capital for investment preparation and implementation of planning tasks; capital for newly started projects, focusing on the remaining key projects according to Resolution No. 304/NQ-HDND dated December 9, 2020.
Based on the set goals and principles, it is expected that the central budget will be allocated to the riverside road project connecting Ha Long - Hai Phong Expressway to Dong Trieu, from Provincial Road 338 to Dong Trieu (phase 1). Of which, the provincial budget will allocate 1,000 billion VND to support localities according to scoring criteria; over 780 billion VND to implement Resolution No. 06-NQ/TU dated May 17, 2021 of the Provincial Party Committee; 310 billion VND for projects completed before 2023 that have not yet allocated enough capital; over 5,600 billion VND for transitional projects and over 2,000 billion VND for newly started projects.
It is known that in 2025, in addition to 39 transitional projects, Quang Ninh province will have about 10 new projects starting construction in various sectors and fields. Of which, the transport sector will have 2 projects; agriculture, forestry and fishery 1 project; education and training 1 project; health 2 projects; culture 1 project... These projects and works, when invested, will continue to complete the transport infrastructure system, engineering, cultural institutions, meeting the sustainable development needs of the province in the future.
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