Focus on recovering advance payment of public investment capital

(Quang Ngai Newspaper) - Currently, some units and localities have advanced public investment capital but have not recovered it fully and promptly. The Provincial People's Committee requires urgent recovery of advance debt, especially overdue advances paid to the budget according to regulations.

Urging the recovery of contractor's advance payment

Duc Pho town is one of the localities with a large amount of capital advanced to contractors to construct a number of projects but there is no volume to pay and refund according to regulations. The reason is that in 2024, the town encountered difficulties in site clearance (GPMB), and could not promptly hand over the site to contractors for construction, so there was no volume to pay. These problems will not be resolved until early 2025.

At the Urban Area Drainage System project (from Bau Bridge to Ro River, with a total investment of about 170 billion VND), the contractor, Tien Hung Joint Stock Company, is currently mobilizing workers and machinery to speed up progress. According to a representative of the Duc Pho Town Land Fund Development and Investment Project Management Board, this project started construction in 2023 and has now completed more than 90% of the project. However, there are still some locations with land clearance problems, and construction has been suspended for many months, so there is no capital payment of 7 billion VND that was advanced to the contractor. Currently, the town has completed site clearance, handed over to the contractor and construction work is being highly focused, to be fully completed in April 2025.

Contractors focus on constructing the Duc Pho Urban Area Drainage System project. Photo: TN

A representative of Tien Hung Joint Stock Company said that the unit is currently mobilizing machinery and more than 40 workers to pour concrete on the embankment along the Ro River. This work can be accelerated in a short time. The unit is committed to having the volume to repay the entire advance payment as required by the investor.

The Thanh Duc Bridge project in Pho Thanh Ward, with a total investment of about 265 billion VND, invested by the People's Committee of Duc Pho Town, also has 15% of the unfinished volume, concentrated in the area east of the bridge. This is the location where Tien Hung Joint Stock Company undertakes the construction, and is currently behind schedule. According to the Management Board of Investment, Construction and Land Fund Development Projects of Duc Pho Town, the capital that the investor has advanced to this contractor has not yet had the volume to pay, refunding about 7 billion VND. Currently, Tien Hung Joint Stock Company is also focusing on machinery, vehicles and construction workers, committing to have the volume and fully refunding in April 2025.

Resolve overdue advance debt

According to the report of the Department of Finance, the amount of overdue advance debt collection in 2024 has changed compared to 2023, but the amount that has not been collected is still large. This debt is concentrated in investors, including the Management Board of Dung Quat Economic Zone and the provincial industrial parks, the Management Board of the Provincial Traffic Construction Investment Project, the Provincial Land Fund Development Center, the Management Board of Projects and Construction of Grassroots Healthcare Services (under the Department of Health), Quang Ngai Investment, Construction and Service Trading One Member Co., Ltd. and the districts of Son Tinh, Ly Son, Quang Ngai City.

In order to carry out the tasks assigned by the Provincial People's Committee, the Department of Finance has sent a document to units and localities requesting strict implementation of the recovery of overdue advance debts, especially debts that are overdue for many years. According to the Department of Finance, Quang Ngai still has 97 billion VND in overdue advance debts that have not been recovered for many years. In addition, hundreds of billions of VND have been advanced to construction contractors that are about to expire and must be repaid. In order to strictly manage public investment capital, in addition to urging the recovery of advance debts, especially overdue advance debts, the Provincial People's Committee requires investors to coordinate with relevant units to prepare project settlement documents for appraisal and approval; determine the amount of outstanding debt, propose debt repayment solutions, and prevent the occurrence of overdue debts for basic construction.

THANH NHI

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Source: https://baoquangngai.vn/kinh-te/giao-thong-xay-dung/202503/tap-trung-thu-hoi-tam-ung-von-dau-tu-cong-b4c5986/