Unblocking public investment capital flow

In 2024, the total public investment plan of Ninh Binh province assigned by the Prime Minister is 6,459.9 billion VND, including: Central budget capital is 611.38 billion VND; local budget capital is 5,848.52 billion VND. However, according to the assessment of the authorities, economic growth in the first months of 2024 has shown signs of recovery but still contains many potential risks, domestic and foreign markets are both shrinking, some key industries of the province are producing at a moderate level... leading to budget revenue not reaching expectations.

In addition, although the real estate market has shown signs of improvement, since the beginning of the year, districts and cities have auctioned land use rights and achieved positive results, but in the first 6 months of the year, the total land use fee collection only reached 39.5%, not meeting the estimated progress assigned by the Provincial People's Council. In particular, the land areas allocated to different budget levels exceeded the estimated progress by 75.9%; the land use fee collection allocated to the provincial budget only reached 8.5%.

The above difficulties not only affect the state budget revenue but also affect the resources allocated for the 2024 public investment plan, especially the 2024 provincial budget public investment plan from land use fee revenue.

Faced with difficulties in allocating public investment capital, the Provincial People's Committee has focused on effectively and synchronously implementing financial and state budget solutions; proactively, flexibly and promptly managing budget revenue and expenditure, stabilizing social life. State budget expenditure tasks are strictly and economically managed. In particular, the province has clearly identified that it will focus public investment resources on socio-economic development goals, key projects that have a spillover effect on local and regional socio-economic development, including: Investment project to build DT.482 route connecting National Highway 1A with National Highway 10 and connecting National Highway 10 with National Highway 12B; Project to build coastal road, section through Ninh Binh province, phase I and phase II; Project to build the East-West route, Ninh Binh province, phase 1... Actively speed up the progress of completing investment procedures to start 2 projects: Investment project to build the Ninh Binh-Hai Phong expressway through Ninh Binh province and Project to expand the North-South expressway in the East, Cao Bo-Mai Son section.

With that goal, right from the first months of the year, the Provincial Party Committee, People's Council, and People's Committee have focused on directing the acceleration of the implementation and disbursement of public investment projects; regularly inspecting the site and organizing conferences to discuss solutions to accelerate the implementation progress. Identifying this as a key political task of great significance to create momentum to accelerate the recovery and socio-economic growth of the province associated with ensuring quality, fighting negativity, corruption, and waste, the Provincial People's Committee has established a Working Group to accelerate the implementation and disbursement of the 2024 public investment capital plan for works and projects in the province. Along with that, the leaders of the Provincial People's Committee directed to strengthen the urging to accelerate the implementation progress of procedures, regularly inspect the actual implementation status of projects and promptly review and direct the resolution of arising problems and issues, especially in site clearance, creating conditions to accelerate the progress of projects.

Therefore, in the first 6 months of 2024, the projects were implemented to ensure the required progress; a number of works and project items were completed, basically completed, put into operation, used, promoted effectively, and contributed positively to the socio-economic development of the locality. As of June 21, 2024, the total disbursed capital reached VND 2,086.34 billion, equal to 32.3% of the plan assigned by the Prime Minister. Of which, the central budget capital was VND 107.04 billion, equal to 17.5% of the plan assigned by the Prime Minister; the local budget balance capital reached VND 1,979.3 billion, equal to 33.8% of the plan assigned by the Prime Minister. According to statistics from the Ministry of Finance, Ninh Binh is ranked 25th out of 63 provinces and cities in terms of public investment disbursement progress.

To strive to complete the disbursement target of over 95% of the state budget investment plan for 2024 assigned by the Prime Minister; At the same time, based on the actual situation of implementing the Medium-term Public Investment Plan for the period 2021-2025 and the Public Investment Plan for 2024 for capital sources managed by the province, the Provincial People's Committee has requested departments, branches, People's Committees of districts and cities, and investors to identify public investment disbursement as one of the top important political tasks, seriously and drastically deploy solutions to promote disbursement, including all capital sources: Central budget, provincial budget, district budget, commune-level budget and additional capital sources outside the plan... according to the requirements of the Government and the Prime Minister in the Resolution on tasks and solutions to implement the socio-economic development plan, state budget estimates for 2024, Resolutions of regular meetings, Decision No. 1603/QDTTg dated December 3, 2022, Official Dispatch on accelerating the progress of allocation and disbursement of public investment capital in 2024. 2024… and related documents.

At the same time, investors coordinate with relevant sectors to review and accelerate the progress of project implementation, control and payment of public investment capital, accelerate procedures for disbursement of public investment capital for projects that have not been disbursed and have a disbursement rate lower than the average disbursement rate of the province, especially the projects: Upgrading and renovating the route connecting National Highway 12B with National Highway 10, Yen Mo-Kim Son section, Ninh Binh province (old DT.480E route); construction of Bai Dinh (Ninh Binh province)- Ba Sao (Ha Nam) route through Ninh Binh province (phase II).

The Provincial People's Committee also directed relevant sectors and localities to proactively, flexibly, effectively, and focusedly manage budget expenditures, ensuring resources to carry out socio-economic development, security, defense, and social security tasks; prioritize capital sources to invest in key projects and works of the province; review and cut down on projects and works that are not really necessary or urgent. Only disburse projects, works, and tasks according to budget collection progress.

In addition, investors in the province shall make advances, recover advances, accept and pay investment capital in accordance with regulations and as soon as the volume is available. Advances, advance capital levels and recovery of advance capital shall comply with the provisions of Article 10, Decree No. 99/2021/ND-CP dated November 11, 2021 of the Government regulating the management, payment and settlement of projects using public investment capital; ensuring effective use, avoiding loss and waste of allocated State budget capital.

Nguyen Thom

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