Promoting the effectiveness of medium-term public investment capital

In the period of 2021-2025, Quang Ninh province will allocate over VND 95,700 billion of state budget capital to carry out public investment, build many key and dynamic projects and works with interconnected and comprehensive nature, linking development between regions and areas in the province and neighboring localities.

Quang Ninh CDC is invested from medium-term public investment capital for 2021-2025.

Immediately after the Provincial People's Council issued Resolution No. 76/NQ-HDND (dated December 9, 2021) on the Medium-term Public Investment Plan for the 2021-2025 period, the Provincial People's Committee directed the implementation of the plan to units and localities and specified it by decisions on assigning annual public investment plans. During the implementation process, timely proposals were made to adjust and supplement the list and resources to meet local development requirements. Accordingly, the total public investment capital for the 2021-2025 period was allocated by the Provincial People's Committee at over VND 95,700 billion. Up to now, the ability to meet annual resource needs and implementation for the period has been ensured, reaching 65% of the expected plan after adjusting the capital reduction of some projects that are unable to absorb resources.

Of the total VND 95,700 billion, the provincial budget plays a leading role, accounting for 65% (equivalent to VND 62,376 billion). Up to now, VND 42,719 billion has been implemented, reaching 68.4%, ensuring balanced resources for key projects and target programs, contributing to promoting rapid and sustainable socio-economic development, narrowing regional gaps.

Dawn Bridge, Gate 3 — Binh Minh Bridge invested with medium-term public investment capital 2021-2025.

Mr. Pham Hong Bien, Director of the Department of Planning and Investment, said: The allocation of medium-term public investment capital for 2021-2025 is focused, key, ensuring priority, allocating sufficient resources to implement projects under the national target program, key programs and projects; basically overcoming the situation of scattered, dispersed, fragmented, and prolonged investment at the district and provincial levels in the period of 2016-2020. The early allocation of capital from the beginning of the year, the beginning of the period of support capital according to scoring criteria, support according to the national target program has created initiative for localities in preparing project lists and organizing implementation.

Through the monitoring and evaluation process of the competent departments and branches, from the allocated public investment capital for the period of 2021-2025, up to now, many important transport infrastructure projects have been completed, put into operation and used effectively, such as: Hai Phong - Ha Long Expressway, Van Don - Tien Yen Expressway, Ha Long - Cam Pha coastal road, Binh Minh Bridge, Tinh Yeu Bridge, Provincial Road 342, Ben Rung Bridge approach road... Along with that, a series of projects and works in the health sector from the commune to the province have been invested in synchronously and put into use, contributing to improving the capacity of the health system in the whole province, bringing great efficiency in social security. Typically: Lung Hospital, Geriatric - Rehabilitation Hospital, CDC Quang Ninh.

Tran Phu High School (Mong Cai City) has just been completed and put into use in the 2024-2025 school year. Photo: Manh Truong — Tran Phu High School (Mong Cai City) has just been completed and put into use in the 2024-2025 school year.

In addition, high-quality schools in the spirit of Resolution No. 99/NQ-HDND (dated May 31, 2022) of the Provincial People's Council are also invested from the medium-term public investment capital for 2021-2025, such as: Hon Gai High School, Quang La Secondary and High School (Ha Long City); Binh Lieu High School (Binh Lieu District); Tran Phu High School (Mong Cai City); Ha Long 1 Primary School, Quan Lan Kindergarten (Van Don District)...

Currently, many other key and dynamic projects using medium-term public investment capital for the 2021-2025 period are being urgently implemented, expected to be completed in 2025, to celebrate important events of the province and the country.

After 4 years of implementing the medium-term public investment plan for 2021-2025, Quang Ninh province has effectively used public investment capital, created seed capital to attract non-budgetary investment capital, contributed to the growth of total social investment capital, created new momentum and development space, created jobs, contributed greatly to economic growth (GRDP), increased the size of the economy in 2024 to 320,000 billion VND, 1.6 times higher than in 2020.

However, the annual disbursement rate of public investment capital is still modest. The average disbursement rate for the 2021-2023 period reached 91%, lower than the target set in Resolution 76/NQ-HDND of the Provincial People's Council, which is over 95% of the plan assigned at the beginning of the year; the delay in preparing and submitting for approval projects and programs according to the Resolution of the Provincial People's Council affects the stability of the medium-term plan. These are issues that need to be learned from, from which there will be a plan to use medium-term public investment capital for the 2026-2030 period with higher efficiency, contributing to the construction of a synchronous and modern technical infrastructure of the province, promptly meeting the development requirements of the country.

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