Promoting the efficiency of public investment capital

Implementing emulation movements to successfully carry out annual socio-economic development tasks and the 5-year Plan (2021-2025), before the merger, Hai Phong city and Hai Duong province had a strong breakthrough in public investment.

Hai Phong City always focuses on increasing the proportion of budget investment in infrastructure, thereby promoting economic growth. Photo: LAN ANH

Focus on key investments

Over the past 5 years, Hai Phong city and Hai Duong province (old) have launched and implemented many emulation movements to carry out socio-economic development tasks. Typical examples include the emulation movement "Successfully implementing the Resolution of the 16th City Party Congress" for the 2020 - 2025 term, emulation to successfully implement the annual theme of the two localities, emulation movement "Increasing local budget revenue for the 2019 - 2025 period", emulation "Promoting administrative reform in the city for the 2021 - 2025 period"...

With the close direction of Party committees, authorities, organizations at all levels, the efforts of businesses and people of all walks of life, emulation movements in the economic field have contributed to the comprehensive development of the two localities' economies, maintaining high growth rates and innovating the growth model. Accordingly, in the period of 2020 - 2025, the total state budget revenue in Hai Phong city has grown continuously for 4 consecutive years, exceeding the 100,000 billion VND mark, in the period of 2021 - 2025 it reached more than 543,600 billion VND, an average increase of 7.06%/year; domestic revenue increased by 9.27%/year. Total state budget revenue in Hai Duong province in the period of 2021 - 2025 reached 125,994 billion VND, an average increase of 13.3%/year; domestic revenue increased by 13.9%/year. Total budget expenditure in the 2021 - 2025 period in Hai Phong is estimated at more than 175,254 billion VND, 1.65 times higher than the 2016 - 2020 period; development investment expenditure is estimated at 91,981 billion VND, 1.83 times higher. In Hai Duong province, total local budget expenditure in the 2021 - 2025 period is 99,249 billion VND, an increase of 31% compared to the plan.

According to the Department of Finance, to achieve the above results, the strengthening of public investment capital management and development investment expenditure is carried out on the principle of concentration, focus, and priority, prioritizing projects with high feasibility and the ability to create spillover momentum. Public investment capital is strictly managed, ensuring balance, the expenditure structure is positively shifting, gradually reducing the proportion of regular expenditure and increasing development investment expenditure.

Specifically, over the past 5 years, Hai Phong has always focused on increasing the proportion of budget investment in infrastructure, thereby promoting economic growth. Budget capital is invested in strategic infrastructure projects, creating inter-regional and international connections such as upgrading inter-regional road traffic infrastructure, seaports, waterways, aviation, especially the development of Lach Huyen Port and Cat Bi International Airport, focusing on developing industrial parks and logistics. Hai Duong province previously planned new strategic road traffic axes, focusing resources on implementing connecting traffic projects. Public investment capital is also focused on expanding urban space, investing in social housing projects...

From public investment capital, the city has achieved important achievements in urban development and transport infrastructure.

Many effective management solutions

To continue promoting the effectiveness of emulation movements, on September 9, 2025, Chairman of the City People's Committee Le Ngoc Chau issued Plan No. 232/KH-UBND launching an emulation campaign to successfully implement the tasks of socio-economic development and national defense and security in 2025 of Hai Phong city (after the merger). To further improve the efficiency of public investment capital management and maintain growth momentum, at the first City Party Congress, term 2025 - 2030, the city identified the key task of the coming period as restructuring budget expenditures, reducing the proportion of regular expenditures and gradually increasing investment expenditures. Resources are allocated with focus, prioritizing key infrastructure projects with strong spillover effects, creating momentum to attract non-budgetary investment sources, while eliminating the situation of scattered and fragmented investment.

Implementing the city's direction, state management agencies and project investors in Hai Phong focus on strategic solutions. According to Mr. Nguyen Ngoc Tu, Director of the Department of Finance, in the coming period, the Department of Finance will continue to proactively coordinate with departments, branches and localities to advise the City Party Committee, People's Council and People's Committee to proactively clear capital flows from many channels, promote the effectiveness of public-private cooperation, and closely link budget revenue and expenditure management with the goal of prioritizing strategic infrastructure development. Along with that, promote administrative procedure reform to shorten time, reduce costs, strengthen trust and increase attractiveness to domestic and foreign investors.

Along with the city's mechanisms and policies, project investors play a key role in promoting the effectiveness of public investment capital. According to Mr. Le Anh Tuan, Deputy Director of the West Hai Phong Construction Investment Project Management Board, the Board synchronously deploys many solutions such as strengthening discipline and order in managing project progress and quality. At the same time, speed up the disbursement of public investment capital; resolutely resolve problems right from the investment preparation and implementation stages. The Board continues to proactively coordinate closely with localities to speed up compensation, dialogue and promptly resolve people's recommendations, ensuring that clean sites are handed over to contractors as soon as possible. In addition, the Board also focuses on improving project management capacity and personal responsibility.

Determination in public investment capital management, from policy consultation to project implementation, is the decisive factor for the city to achieve its goal of becoming the economic center of the Red River Delta and the whole country.

PHAN ANH

Source: https://baohaiphong.vn/phat-huy-hieu-qua-von-dau-tu-cong-523240.html