Continuing the journey of creating breakthroughs through public investment.

Continuing to adhere to the Party's leadership direction from previous terms, the 2020-2025 term witnessed the decisive involvement of the political system from the central to local levels, aiming to continue the journey of creating strong breakthroughs from public investment capital. This term also showed the efforts of Hoa Binh province - a region still facing many difficulties - which is gradually transforming thanks to public investment capital. Looking back over the past five years, we see that Hoa Binh has persistently conquered each milestone on its development journey while determined to accumulate more internal strength to create breakthroughs from public investment.

Continuing to adhere to the Party's leadership direction from previous terms, the 2020-2025 term witnessed the decisive involvement of the political system from the central to local levels, aiming to continue the journey of creating strong breakthroughs from public investment capital. This term also showed the efforts of Hoa Binh province - a region still facing many difficulties - which is gradually transforming thanks to public investment capital. Looking back over the past five years, we see that Hoa Binh has persistently conquered each milestone on its development journey while determined to accumulate more internal strength to create breakthroughs from public investment.

As soon as the land was handed over, the contractor accelerated the construction progress of the Hoa Binh - Moc Chau expressway.

The section passing through Cao Son commune (Da Bac district).

During the 2020-2025 term, the Party clearly demonstrated its viewpoint, guidelines, and decisive leadership and direction regarding public investment. In the 13th National Congress documents, the Party affirmed that public investment is an important tool of the State to guide, activate, and regulate the economy . Therefore, public investment capital is restructured to focus on strategic infrastructure to create strong momentum for the economy.

In Hoa Binh province, with the highest ever allocation of medium-term public investment capital for the 2021-2025 period, the province has restructured its capital sources, heavily investing in key projects with high spillover effects to create breakthroughs in infrastructure development and provide crucial impetus for socio-economic development.

Public investment - a key driving force

Entering its second year of implementing the Resolution of the 17th Provincial Party Congress, term 2020-2025, Hoa Binh province embarked on the implementation of the medium-term investment plan for the period 2021-2025. During this period, the province received the largest total capital allocation. According to the initial plan, the total capital allocated by the Prime Minister was 18,058,690 million VND; the Provincial People's Council approved 18,085,786 million VND. After several adjustments and additions, the total approved capital reached 33,316,201 million VND, including 12,390,965 million VND from the provincial budget and 20,925,236 million VND from the central government budget. This capital increased by 170% compared to the 2016-2020 period and is significantly higher than previous periods. This is a record-high level of funding, reflecting the central government's attention and the province's efforts to mobilize local resources.

An analysis of the capital structure of public investment projects during this period reveals that, in addition to the allocated central government budget, the provincial budget of 12,390,965 million VND demonstrates the province's ability to balance its budget and its determination to create a breakthrough in public investment resources for a mountainous province still facing many difficulties. To obtain this record amount of capital injected into public investment projects, the province mobilized funds from land use revenue, local budget deficits, and concentrated capital for basic construction, while also increasing the mobilization of non-budgetary sources and attracting additional social resources to implement infrastructure investment projects.

In particular, a key focus in the province's thinking and actions to effectively utilize public investment capital during the 2021-2025 period is the shift from scattered and dispersed investment to concentrated, targeted investment. This change aligns with the leadership direction set at the 13th National Congress of the Party: restructuring public investment, focusing on key sectors with significant spillover effects, national and local priorities, and prioritizing resources to create momentum for particularly disadvantaged areas.

Rethinking to create breakthroughs

Large resources are a necessary condition, but effective implementation is the sufficient condition for public investment to truly be effective. Understanding this, the entire provincial political system has reformed its thinking and acted decisively to effectively activate public investment resources. Not only has the 2021-2025 period recorded a record amount of total investment capital, but it also marks the province's political determination in implementing public investment projects. With a "focused mindset" and a determination to create breakthroughs, the use of public investment capital is linked to efforts to achieve a strategic breakthrough in the 2020-2025 term: investing in the development of a synchronous and modern infrastructure.

Specifically, the Resolution of the 17th Provincial Party Congress identified infrastructure development as one of the four strategic breakthroughs to be implemented throughout the term. To realize this strategic breakthrough, in Project No. 02-DA/TU on completing socio-economic infrastructure in the 2021-2025 period, the Provincial Party Committee identified the focus as prioritizing the development of road transport infrastructure and technical infrastructure for environmental protection and climate change adaptation. This is also consistent with the "key thinking" in the allocation of medium-term public investment resources: concentrating capital on implementing and maximizing the effectiveness of important and urgent projects of the province, projects with high connectivity, inter-regional impact, and significant socio-economic development.

According to Mr. Nguyen Van Danh, Director of the Department of Finance: The medium-term and annual public investment plans are allocated in detail to projects and works, ensuring compliance with regulations, procedures, and timelines. The planning, submission, and allocation of plans are carried out promptly, adhering to principles and priorities. Furthermore, the Department advises the Provincial People's Committee to prioritize the allocation of capital to large projects, key projects, and regional linkages that have a significant impact on local development, especially important transportation projects and industrial zones/clusters that attract investment… As a result, public investment capital is used for its intended purpose, yielding practical results, creating a ripple effect in society, and overcoming the problem of scattered and fragmented investment.

Over the past years, significant public investment capital has been poured into key projects to create crucial momentum for socio-economic development. Examples include: the Hoa Binh - Moc Chau expressway project (the section passing through the province) with a total investment of 9,997 billion VND, of which 1,754 billion VND comes from the provincial budget; the Hoa Binh - Hanoi regional connecting road project and the Son La (Hoa Binh - Moc Chau) expressway with a total investment of 4,120 billion VND, of which 1,620 billion VND comes from the provincial budget… Many important transportation routes have been started or repaired. To date, over 11,170 km of roads have been built in the province, an increase of approximately 420 km compared to 2020.

Besides transportation, irrigation and dike infrastructure projects have also been upgraded to ensure irrigation, daily life, and the safety of residents. The national power grid covers 100% of communes, wards, and towns. Industrial zones and clusters are gradually synchronizing their infrastructure, increasing the occupancy rate of industrial land to boost investment attraction…

Alongside this, the province prioritizes ensuring social welfare. A series of public works, healthcare, and education projects, funded by public investment, are already underway, serving as vivid evidence of the effectiveness of capital allocated appropriately and at the right time. However, the journey to achieve breakthroughs through public investment still faces many challenges, requiring the combined efforts of various factors to overcome them – from institutions and resources to political determination and practical action. Notably, in the last five years, the involvement of the entire political system has further strengthened and reinforced confidence in a sustainably developing and breakthrough Hoa Binh province.

(To be continued)

Thu Trang

Source: https://baohoabinh.com.vn/12/201998/Noi-tiep-hanh-trinh-tao-dot-pha-tu-dau-tu-cong.htm