Unlocking the flow of public investment capital.

In 2024, the total public investment plan for Ninh Binh province, as assigned by the Prime Minister, was VND 6,459.9 billion, including VND 611.38 billion from the central government budget and VND 5,848.52 billion from the local government budget. However, according to assessments by relevant agencies, while economic growth in the first months of 2024 showed signs of recovery, many risks remained, both domestic and international markets narrowed, and some key industries in the province operated at a reduced capacity... leading to budget revenue not meeting expectations.

Furthermore, although the real estate market has shown signs of improvement, with districts and cities conducting land use right auctions and achieving positive results since the beginning of the year, the total revenue from land use fees in the first six months only reached 39.5%, failing to meet the target set by the Provincial People's Council. Specifically, land allocated to various budget levels exceeded the target at 75.9%; while revenue from land use fees allocated to the provincial budget only reached 8.5%.

These difficulties not only affect state budget revenue but also impact the resources allocated for public investment plans in 2024, especially the provincial-level public investment plan in 2024 funded by land use fees.

Faced with difficulties in allocating public investment capital, the Provincial People's Committee has focused on effectively and synchronously implementing state financial and budgetary solutions; managing budget revenue and expenditure proactively, flexibly, and promptly to stabilize social life. State budget expenditure tasks have been strictly managed and economized. In particular, the province has clearly identified that it will concentrate public investment resources on socio-economic development goals, key projects with a ripple effect on the socio-economic development of the locality and the region, including: the investment project to build the DT.482 road connecting National Highway 1A with National Highway 10 and connecting National Highway 10 with National Highway 12B; the project to build the coastal road section through Ninh Binh province, phase I and phase II; The Ninh Binh province's East-West road construction project, phase 1... Actively accelerating the completion of investment procedures to commence two projects: the Ninh Binh-Hai Phong expressway construction project through Ninh Binh province and the expansion project of the North-South expressway (Eastern section) from Cao Bo to Mai Son.

With that goal in mind, from the early months of the year, the Provincial Party Committee, the Provincial People's Council, and the Provincial People's Committee have focused on directing the acceleration of the implementation and disbursement of public investment projects; regularly inspecting the sites and organizing conferences to discuss solutions to speed up implementation. Identifying this as a key political task of significant importance in creating momentum for the recovery and socio-economic growth of the province, while ensuring quality and combating corruption and waste, the Provincial People's Committee established a Task Force to accelerate the implementation and disbursement of the 2024 public investment plan for projects and works in the province. Along with this, the leaders of the Provincial People's Committee directed the strengthening of supervision to expedite the implementation of procedures, regularly inspecting the actual situation of project implementation, and promptly considering and directing the resolution of obstacles and arising issues, especially in land clearance, creating conditions to accelerate project progress.

Therefore, in the first six months of 2024, the projects were implemented on schedule; some works and project components were completed or basically completed, and were put into operation and use early, contributing positively to the socio-economic development of the locality. As of June 21, 2024, the total disbursed capital reached VND 2,086.34 billion, equivalent to 32.3% of the plan assigned by the Prime Minister. Of which, central government budget capital was VND 107.04 billion, equivalent to 17.5% of the plan assigned by the Prime Minister; local budget capital reached VND 1,979.3 billion, equivalent to 33.8% of the plan assigned by the Prime Minister. According to statistics from the Ministry of Finance, Ninh Binh ranked 25th out of 63 provinces and cities in terms of public investment capital disbursement progress.

To strive to achieve the target of disbursing over 95% of the state budget investment plan for 2024 as assigned by the Prime Minister; At the same time, based on the actual situation of implementing the medium-term public investment plan for the period 2021-2025 and the 2024 public investment plan for capital sources managed by the province, the Provincial People's Committee has requested departments, agencies, district and city People's Committees, and investors to consider public investment disbursement as one of the top priority political tasks, and to seriously and decisively implement solutions to promote disbursement, including all capital sources: Central budget, provincial budget, district budget, commune budget, and supplementary capital sources outside the plan... as required by the Government and the Prime Minister in the Resolution on tasks and solutions for implementing the socio-economic development plan and state budget estimate for 2024, Resolutions of regular meetings, Decision No. 1603/QD-TTg dated December 3, 2022, and the Telegram on accelerating the allocation and disbursement of public investment capital for the year. 2024… and related documents.

At the same time, investors are coordinating with relevant sectors to review and accelerate the progress of projects, control and disburse public investment capital, and expedite the disbursement of public investment capital for projects that have not yet been disbursed or have a disbursement rate lower than the province's average, especially the following projects: Upgrading and renovating the road connecting National Highway 12B with National Highway 10, the Yen Mo-Kim Son section, Ninh Binh province (formerly DT.480E); and constructing the Bai Dinh (Ninh Binh province) - Ba Sao (Ha Nam) road section through Ninh Binh province (Phase II).

The Provincial People's Committee also directed relevant departments and localities to manage budget expenditures proactively, flexibly, effectively, and with a focus on key areas, ensuring resources for implementing socio-economic development, security, national defense, and social welfare tasks; prioritizing the allocation of capital to invest in key projects of the province; and reviewing and cutting back on projects that are not truly necessary or urgent. Disbursement should only be made for projects and tasks according to the budget revenue collection schedule.

Furthermore, investors in the province shall make advances, recover advances, conduct acceptance testing, and make payments of investment capital in accordance with regulations and immediately upon completion of work. Advances, the amount of advances, and the recovery of advances shall comply with the regulations stipulated in Article 10 of Government Decree No. 99/2021/ND-CP dated November 11, 2021, on the management, payment, and settlement of projects using public investment capital; ensuring efficient use and preventing loss and waste of allocated state budget funds.

Nguyen Thom

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