Ho Chi Minh City adds nearly 5,000 billion VND to invest and improve infrastructure for 5 suburban districts

Accordingly, the HCM City People's Council allocated VND29.6 billion for projects with increased capital according to the decision approving the final settlement or expected final settlement projects. The City People's Council also allocated VND1,030 billion for ongoing projects that need additional capital (without increasing the total investment) to complete the project.

In addition, 4,945 billion VND from the budget will be added to 5 suburban districts to implement projects under the new rural program for the 2021-2025 period. The goal of the capital allocation is to bring Hoc Mon and Cu Chi districts to the standards of advanced new rural districts. At the same time, all 5 suburban districts must ensure that 50% of communes meet the standards of advanced new rural districts.

The capital allocation plan will be implemented as follows: Cu Chi district will be allocated 1,643 billion VND; Hoc Mon will receive 891 billion VND; Nha Be will receive more than 564 billion VND; Binh Chanh will receive more than 1,295 billion VND and Can Gio will receive 550 billion VND.

Ho Chi Minh City adds nearly 5,000 billion dong to invest in infrastructure improvement for 5 suburban districts — Many suburban districts will soon be "upgraded" to improve people's lives.

The Ho Chi Minh City People's Committee will be responsible for determining the specific project list, notifying the capital level for each locality and only assigning the medium-term public investment plan for each project after the districts complete the investment procedures.

According to the 2021-2025 medium-term public investment plan, the local budget capital approved and adjusted by the Ho Chi Minh City People's Council has a total capital of VND 242,390 billion, of which more than VND 230,800 billion has been allocated in detail. The remaining unallocated capital is VND 11,584 billion.

After allocating funds to the above programs and projects, the remaining reserve capital of VND 5,579 billion can be supplemented for the medium-term public investment plan for the 2021-2025 period.

The Ho Chi Minh City People's Committee is assigned to continue reviewing and making a list of specific projects to submit to the Ho Chi Minh City People's Council for decision on investment policies, decision on adjusting investment policies and allocating capital for these projects at the next meetings.

Previously, according to calculations by the Ho Chi Minh City People's Committee, the total investment capital requirement for 5 suburban districts in the 2021-2030 period is about 242,000 billion VND. According to the analysis results of the Department of Planning and Architecture, in the next 10 years, the opportunity to recover added value from land if exploited well is estimated to reach about 528,000 billion VND.

Source