Hanoi to disburse over 95 percent of public investment in 2023

Surmounting pending problems

The Hanoi People’s Committee has provided guidance for relevant units to surmount limitations and shortcomings related to public investment disbursement in 2022.

The Prime Minister has assigned Hanoi to implementing public investment projects with the total capital of nearly VND47 trillion in 2023 - photo: Trong Hieu

According to the Hanoi People’s Committee, units achieving good results of public investment disbursement in 2022 include the Hanoi Transport Construction Investment Project Management Board, Hanoi Capital Command, Hanoi Construction Department, Tay Ho, Ha Dong, Long Bien and My Duc Districts. Notably, the Hanoi Transport Construction Investment Project Management Board fulfilled more than 61 percent of the disbursement plan, with implemented projects including Vinh Tuy Bridge (second stage), Kim Dong - Giai Phong Tunnel, and Hanoi’s Belt Road 4.

Thus far of 2023, Hanoi has disbursed VND5.61 trillion for 13 major projects, fulfilling 45.7 percent of the annual plan (VND12.275 trillion). The construction of Belt Road 4 and other major transport works is underway and on schedule. The capital has proposed increased investment for the Thang Long Avenue’s section connecting National Highway 21 to the Hanoi - Hoa Binh Expressway.

By September 11, 2023, VND3.122 trillion had been disbursed for Belt Road 4 project, equivalent to 52.3 percent of the annual plan (VND5.968 trillion).

According to the Hanoi People’s Committee, by September 11, 2023, the city had fulfilled merely 42.4 percent of the adjusted annual plan, below the set target. This situation is attributed to some problems facing public investment projects, including site clearance, changes in prices of materials and fuels, investment procedures, and construction permit granting procedures. Due to these problems, many public investment projects are predicted not to fulfill the disbursement plan assigned for 2023.

Striving to achieve target

Despite numerous difficulties, the Hanoi People’s Committee said the city will accelerate the implementation of public investment projects to fulfill the capital disbursement plans for each project in the third and fourth quarters of 2023 and until the end of January 2024.

The city will also speed up the completion of investment procedures for transitional and new projects to facilitate the preparation of capital allocation plans. Specialized departments will authorize the people’s committees of districts to deal with administrative procedures under their management.

Recently, the Hanoi People’s Council has considered adjustments to the city’s public investment plan for 2023. Deputy Secretary of the Hanoi Communist Party Committee Nguyen Thi Tuyen has signed and issued Conclusion 138-KL/TU of the city’s Party Committee regarding these adjustments.

Tran Sy Thanh, Chairman of the Hanoi People’s Committee, has requested each unit and each leader to highlight the sense of responsibility and be determined to achieve successful results of public investment disbursement. Decentralization and authorization will be increased along with efforts to resolve problems facing public investment projects.