Adjusting the 5-year medium-term public investment capital plan 2021-2025 of Hanoi City

Delegates of the Hanoi People's Council voted to pass the Resolution. *Photo: Viet Thanh*

Resolution approving the update and adjustment of the 5-year Public Investment Plan 2021-2025 detailed in Appendices 1, 2, 2.1, 2.2, 3, 5, 6 attached. In which, 1,200,000 million VND is allocated from the medium-term plan reserve to arrange for 2 projects: Upgrading and expanding Linh Nam road according to the plan; building Tam Trinh road.

Resolution approving the adjustment of the 2025 Public Investment Plan detailed in Appendices 1, 2, 2.1, 2.2, 3, 4, 5 attached. In particular, the capital plan for investment preparation is allocated for 8 city-level projects implemented in the 2026-2030 period with a capital plan of VND 14,310 million; 1 security project with a capital plan of VND 7,540 million. The capital is allocated from the flexible payment fund for investment preparation.

The City People's Council Resolution assigns the City People's Committee to allocate the 2023 revenue increase of VND 1,000,000 million to the 2025 public investment plan for compensation, support, and resettlement when the State reclaims land in case the flexible capital plan for compensation, support, and resettlement when the State reclaims land in 2025 is fully used.

Resolution approving the city budget to support 1 defense task/project and 1 security project according to the proposal of the City People's Committee on adjusting the 2025 Public Investment Plan and updating and adjusting the 5-year Public Investment Plan 2021-2025 at the city level.

Head of the Economic - Budget Committee of the Hanoi People's Council Ho Van Nga presented the audit report. *Photo: Viet Thanh*

Presenting the audit report, the Economic - Budget Committee of the City People's Council agreed with the necessity of adjusting the 5-year medium-term public investment plan 2021-2025 and the 2025 public investment plan as well as the adjustment principles submitted by the City People's Committee to promptly meet resources for implementing key and focal projects.

This will contribute to the achievement of the economic growth target of 8% or more and serve the city's political tasks in 2025 and the following years. Given that the city has unused revenue increases in 2024, the Economic - Budget Committee believes that the proposal to use 1,200 billion VND from the medium-term public investment plan reserve is well-founded and acceptable.

The Economic - Budget Committee agreed on 3 groups of principles, criteria and priority order to review and develop plans to increase/decrease capital for the adjusted projects this time.

For projects proposed to reduce capital plans, 2025 is the last year to implement the 5-year Medium-Term Plan 2021-2025. The 2025 public investment capital plan is developed by the City People's Committee and submitted to the City People's Council for resolution at the 20th session on the basis of determining tasks associated with the capital level allocated from the beginning of the year to ensure capital sources for implementation for the whole year.

The City People's Committee has issued many directives to accelerate the implementation and disbursement of projects. However, the implementation progress of many projects and works has not met requirements, the disbursement rate of basic construction investment projects through the State Treasury of Region I by April 20, 2025 only reached 8.7% of the 2025 plan.

Up to now, after only 3 months of implementing the annual plan, the City People's Committee has proposed to adjust and reduce capital for many projects. The Economic - Budget Committee proposed to further evaluate the authenticity and feasibility when developing and submitting for approval the public investment plan, the determination and drasticness in directing and implementing of the city authorities at all levels and the responsibility of investors in performing the tasks assigned by the city.

In particular, further explanation of the progress and implementation capability until the end of 2025 for projects proposed to reduce capital, in which clarifying 11 projects reduced due to procedural problems for projects in the dike sector; reducing capital for key projects, projects that must be completed in 2025.

Director of the Department of Finance Nguyen Xuan Luu presented a report at the meeting. *Photo: Viet Thanh*

In particular, the Economic - Budget Committee of the City People's Council requested the City People's Committee to review the fact that there are projects that are determined to be completed in 2025 but still propose to reduce the capital plan, leading to the accumulated capital allocated for the project by the end of 2025 being lower than the total investment, affecting the ability to complete the project.

For projects proposed to supplement and increase capital plans, many projects have had their implementation time extended and are determined to be completed in 2025, but the allocated capital only reaches about 60-75% of the total approved project investment.

Regarding the criterion "New projects have had project approval decisions, are eligible for capital allocation according to regulations, and need to arrange a capital plan for implementation", the City People's Committee has not yet proposed criteria for determining what a project "needs to arrange a capital plan for implementation" and criteria for determining the order of priority in considering capital plan arrangement for new projects that have completed investment procedures.

The Economic - Budget Committee requested the City People's Committee to review and ensure that projects are allocated capital to implement in full compliance with the provisions of the law on investment and construction. In particular, for the project of the Regular Technology Transaction Center - Vo Chi Cong Inter-agency Area, which has been implemented since 2012, it is now requested to allocate capital to continue implementing the project.

The Economic - Budget Committee requested to report more clearly on the compliance with the provisions of the law on construction when adjusting the project investment decision and continue to propose arranging a capital plan to continue construction when the project has been accepted and put into use from 2020.

Source: https://hanoimoi.vn/dieu-chinh-ke-hoach-von-dau-tu-cong-trung-han-5-nam-2021-2025-cua-tp-ha-noi-700754.html