Today: 21/03/2023 07:27:38 (GMT+7)

Bac Giang speeds up disbursement of public investment

(BGO)- Progress of disbursement of public investment plays a significant role in socio-economic recovery and development of Bac Giang province in 2022. However, the disbursement of this financial resource still faces numerous difficulties.

Low disbursement rates

According to the provincial Department of Planning and Investment, the total public investment capital in the entire province this year is more than 9.7 trillion VND (422 million USD) including 8 trillion VND (348 million USD) of local budget, over 1.5 trillion VND (65.2 million USD) from Central budget and the rest transited from the previous year. 

Bac Giang province, speeds up disbursement, public investment, significant role, socio-economic recovery and development, Low disbursement rates

The project improving and upgrading the provincial road 292, section from Bo Ha bridge to Phon Xuong township (Yen The district) is being sped up construction progress.

This capital resource is used to build hundreds of traffic, medical, irrigation, school and environmental construction works. In the first 4 months this year, the disbursement value of this financial resource is only 1.83 trillion VND (79.6 million USD), equivalent to 19.1 percent against the annual plan.

According to a survey, most of the districts and city appointed as investors have low disbursement result of public investment. The total public investment capital this year of Luc Nam district is about 786 billion VND (34 million USD) while the disbursement rate in the district is only 15 percent.

Tan Yen district was allocated more than 738 billion VND (32 million USD) of public investment capital this year but its disbursement rate is just 20 percent. Similarly, the disbursement rate of this financial capital is only 16 percent in Lang Giang district. Many other localities in the province also reach low disbursement rates (below 20 percent of the total allocated capital).

The first reason for low disbursement rates is that some investors and localities have not provided drastic direction in finalizing the procedures for starting the projects such as making economic technical report, construction drawing design, project estimate and contractor selection.

Besides, several new and transition construction works face obstacles in land clearance. Some districts have low disbursement results because revenues from auction of residential land use rights have not been collected in the first months this year to invest in project construction.

In addition, the low disbursement result of many projects is caused by “half-heartedly” construction early this year to wait for fall of construction material prices to reduce cost.

Focusing on removing obstacles

Defining speeding up disbursement of public investment as one of the important solutions to boost post-pandemic economic recovery, Chairman of the provincial People’s Committee Le Anh Duong at the monthly meeting in April ordered the investors to actively implement the projects, especially the districts and city to speed up disbursement of public investment, striving to reach 50 percent of disbursement rate in the first 6 months and fulfilling 100 percent of the set targets.

Bac Giang province, speeds up disbursement, public investment, significant role, socio-economic recovery and development, Low disbursement rates

Kham Lang pumping station in Luc Nam district is being sped up construction progress.

According to the representative of the Department of Planning and Investment, in order to reach the target to disburse 100 percent of public investment capital, the Department has requested the investors to register and undertake the implementation progress of public investment plan of the projects in 2022 with specific schedules.

Thereby, the Department will send officers to supervise and boost the implementation to report Chairman of the provincial People’s Committee. Besides, this Department requested the people’s committee of the districts and city and investors to direct the contractors to speed up construction progress to make up for the discontinuity due to Covid-19 pandemic. In addition, they were urged to immediately implement the acceptance and payment procedures for the amount of work completed while strictly punishing contractors violating the contracted progress.

The districts and city will strive to finish disbursement of 100 percent of the investment capital extended from 2021 to 2022 by September 30. Besides, they should closely supervise the disbursement results to timely recommend the competent authority for adjustment to the investment plan from the projects with low disbursement to those with payment volume in need of supplementing investment capital.

The districts and city need to better auction of residential land use rights to increase revenues from land use and allocate fund for the projects according to the plan. Besides, it is necessary to pay more attention to propaganda and mobilizing for people’s consensus on implementation of the policies relating land clearance compensation. For the other key projects under management of the province, the related departments and units will prepare conditions to start construction by the second quarter this year.


Minh Linh
Bac Giang IPs attract five new investment projects in first four months
(BGO) - The Northern province of Bac Giang has gained positive result in investment attraction in the first four months in 2022.
Vietnam to create new filter for foreign investment
It is imperative for Vietnam to create a new filter to select foreign investors with advanced technology and strong resilience to ensure the country’s sustainable development and national security.
Bringing Bac Giang - Singapore investment cooperation to new height
(BGO) – A delegation from the Singapore Embassy in Vietnam led by Ambassador Raya Ratnam paid a working visit to Bac Giang province on April 13.
RoK enterprises lead in number of investment projects in Bac Giang
(BGO) - In the past 5 years, Bac Giang has always been in the top 10 provinces and cities in the country in terms of foreign direct investment (FDI) attraction, showing that it is an attractive destination for many large businesses and corporations. Continuing to identify industry as the main driving force for development, Bac Giang promotes FDI attraction, including capital from the Republic of Korea (RoK).
Bac Giang welcomes investment wave from Singapore
(BGO) - With 16 FDI projects with a total registered capital of about 903 million USD, Singapore currently ranks 5th in terms of total registered capital and sixth in the number of projects among 25 countries and territories investing in the province. Identifying this as a potential and effective partner, in the coming time, Bac Giang province will continue to implement many solutions to welcome the investment wave from this country.
Bac Giang attracts 11 investment projects in first three months
(BGO) – Since early this year, Bac Giang province has attracted 310.52 million USD (accounting for 44.45 percent year on year) including six new domestic projects with registered capital of 324.9 billion VND or 14.3 million USD (42.28 percent), five foreign direct investment (FDI) projects with registered capital of 102.7 million USD (18 percent) and 11 adjusted FDI projects with added capital up to 193.7 million USD (3.2 folds increase).
Bac Giang province, speeds up disbursement, public investment, significant role, socio-economic recovery and development, Low disbursement rates
New comment has just been added. Click here
Sort:NewBest News