In the first seven months of 2022, Hai Phong's investment capital surged by more than 25%

DNHN - Total realized investment capital in Hai Phong increased by 25.7 per cent (approximately VND 1,294 billion) in the first seven months of 2022, reaching over VND 6,328 billion.

The city-level state budget capital in Hai Phong is estimated to be VND 4,383 billion, a 25.11 per cent increase; the district-level state budget capital is 1,507 billion dongs, a 26.71 per cent increase; and the commune-level state budget capital is 438.9 billion dongs, a 28.1 per cent increase over the same period last year.

However, the outcomes of executing public investment capital in the previous seven months were still below the yearly plan. The fundamental reason is that the building progress of transitional projects and the completion of investment processes for newly initiated projects are still delayed, hurting capital allocation and payout of public investment funds in 2022.

Four of the 18 transitional projects have been authorized to alter investment policies but not to adjust investment projects. Furthermore, several new projects are beginning in 2022 that have been accepted for investment policies but have not yet been approved for investment projects, slowing down the disbursement process.

The majority of them are huge projects that need attention and marketing, such as the Political-Administrative Center project, the Conference-Performance Center, and the Tan Vu - Hung Dao - Bui Vien Street stretch of Ring Road 2, and the bridge. Nguyen Trai, Lai Xuan bridge, provincial road 352, Hoa river bridge, enlarged Do Muoi street, Cat Hai resettlement area... According to the strategy, these projects must complete associated processes for a payout as soon as possible.

The execution of green park program initiatives and the creation of a model new rural commune have not yet satisfied the standards. Notably, the completion of many projects' site clearance is long and arduous, with various hurdles... impacting the pace with which public investment funds are disbursed.

According to the 2022-2023 plan, Hai Phong will construct 33 green parks under the green park program. Project materials have been accepted for execution in several areas. However, no park has been built yet.

The new model rural building program in 2022 is being implemented in 35 communes and is planned to begin concurrently in the latter months of 2022, thus disbursement results in the first half of the year were low (147.9/2.626,2 billion dongs, or 5.63 per cent of the goal)...

According to Mr Nguyen Hoang Long, Director of the Hai Phong Department of Planning and Investment, the city hopes to speed the approval of investment policies and plans, as well as the clearing, to meet the objective of disbursing the public investment capital plan by 2022.

Simultaneously, continue to understand the obstacles and concerns of each project and each bidding package to quickly address emergent issues and provide favourable circumstances for the projects to be deployed to meet the deadline. Furthermore, significant projects that are slated to begin construction this year hasten the development of processes and groundwork for execution.

In addition to focusing on old arrears, the Department of Planning and Investment has advised the Hai Phong City People's Committee to direct investors to only deploy investment according to the annual capital plan assigned, without requiring contractors to construct and failing to take over the completed volume exceeding the assigned capital plan, resulting in capital construction arrears. Cases involving capital construction arrears will be addressed rigorously following existing legislation.

The city is still reviewing the decrease and transfer of money from departments, branches, localities, units, and projects with a poor disbursement rate to areas that can perform better. The heads of agencies, municipalities, and units are accountable for the progress of disbursements as agreed with the City People's Committee.

The Hai Phong City People's Committee shall examine, assess, and take responsibility for units that disburse less than 80% of the allotted money before the end of the third quarter of 2022.

PV