Promoting Public Investment Capital Disbursement

2:53:56 PM | 11/29/2022

Since the beginning of 2022, Vinh Phuc Provincial People's Committee has aggressively urged the construction progress of key works and projects, aiming to disburse over 95% of the public investment capital plan for 2022 by January 31, 2023.

Aggressively disbursing public investment capital

In 2022, the planned capital allocated to key works and projects in the area has been disbursed for 17 transitional works and projects, two new construction projects, and 13 extended projects from 2021 to 2022.

To ensure the disbursement progress, for projects with a large amount of capital assigned to the plan, Vinh Phuc province requires regular inspections, urges and proactively removes difficulties and obstacles in the implementation process; resolutely sanctions violated contractors of the projects; focuses on the acceptance of the volume according to the schedule and expeditiously completes the payment documents and procedures.

For projects that have been completed, handed over and put into use, they must expeditiously complete the procedures for approving the final settlement and disbursing capital to contractors on time. The province promptly corrects and remedies violations and will not sign contracts with incompetent consulting and construction contractors.

In particular, the provincial Department of Planning and Investment is responsible for inspecting and reviewing the units that have not completed the detailed allocation of the public investment plan in 2022. The Department proposes the Provincial People's Committee take measures to handle in accordance with the provisions of the Law on Public Investment; strengthen discipline and strictly observe regulations in public investment management, bidding, construction and capital payment; organize detailed planning for each project from the stage of investment preparation to construction implementation, acceptance and payment to ensure compliance with the overall progress of the project and regulations, including the capital portion allowed to transfer sources and extend the time for implementation and disbursement.

For disbursement units that fail to meet the above-mentioned targets, the head of that unit will be held accountable.

Many key projects completed

Since the beginning of 2022, the Provincial People's Committee has assigned targets, asked the local governments to sign a commitment on the progress of site clearance with the investors and shorten the investment processes and procedures to implement projects soon. A special working group to promote the disbursement of public investment capital at the provincial level has also been established by the Provincial People's Committee; assigned leaders of the Provincial People's Committee to closely follow the implementation progress and disbursement of public investment capital of key projects. The Provincial People's Committee sanctions investors, organizations and individuals that intentionally cause difficulties and hinder the progress of implementing and disbursing public investment capital plans.

This fierceness has helped many projects to be completed on schedule as committed, such as the project of the connecting road from Hop Chau-Dong Tinh to Tay Thien scenic area, one of the key projects of the province. By the end of August 2022, the road connecting Hop Chau-Dong Tinh to Tay Thien scenic area with a total length of 4.2km and the total investment of over VND130 billion was officially inaugurated.

This is a route connecting National Highway 2B and National Highway 2C, linking with provincial road 310, Noi Bai-Lao Cai expressway and industrial parks in districts: Tam Duong, Binh Xuyen, Tam Dao, creating favorable conditions to promote tourism development of Tay Thien scenic area in particular, and to promote socio-economic, trade and service activities of the region and the province in general.

Many works and projects invested from the state budget have been completed, handed over and put into use, such as renovating and upgrading provincial road 307 from the center of Lap Thach district to Tuyen Quang, the section from Km 16+600 to Km 25+140; Dam Vac bridge; Ring road 4 section Yen Lac-Binh Duong; ring road 2 of Vinh Yen city, the section from national highway 2B to national highway 2C; Nguyen Van Cu street, section from provincial road 301 to Thanh Xuan valley eco-tourism area, Phuc Yen city; Culture Square and Center of Culture, Sports and Physical Training of Yen Lac district; Vinh Tuong Secondary School; Provincial General Hospital, Provincial Obstetrics and Pediatrics Hospital and Tam Dao Medical Center phase 3.

These key works and projects not only create a driving force for general socio-economic development but also make an important contribution to speeding up the disbursement of public investment capital in Vinh Phuc province.

By Manh Dung, Vietnam Business Forum