Will disburse over 95% of capital in 2024

Responding to VTC News, Mr. Luong Minh Phuc, Director of the Ho Chi Minh City Traffic Construction Investment Project Management Board (Ho Chi Minh City Traffic Board) said that in 2024, the Board will focus on completing 5 goals and tasks assigned by the Ho Chi Minh City People's Committee.

“ The Traffic Department will mobilize resources, unite, be creative, overcome difficulties, and complete assigned political tasks. Continue to accelerate the progress of digital transformation and site clearance compensation, ensure progress, quality, safety, efficiency, and put into service the city's people works and projects to develop the urban traffic infrastructure system.

"Effectively use investment capital, disbursement rate reaches over 95% of the capital plan assigned in 2024. At the same time, the Board focuses on developing new transport projects according to approved planning and plans," said Mr. Phuc.

An Phu traffic intersection project, considered a "black spot" of traffic congestion in Ho Chi Minh City.

According to the Director of the Ho Chi Minh City Traffic Department, in 2024, the Department will submit for approval and adjust 24 projects, of which 9 projects will be approved and 15 projects will be approved for adjustment. In addition, 29 bidding packages will be started with key projects such as: Construction of Nguyen Khoi Bridge and Road (District 1, District 4, District 7); Construction of Ring Road 2, Section 1 and Section 2.

To complete the 2024 target, according to the Director of the Ho Chi Minh City Traffic Department, the unit will complete 38 projects and packages with key projects such as: Construction of the road connecting Tran Quoc Hoan Street - Cong Hoa Street (Tan Binh District); Underpass at Nguyen Van Linh - Nguyen Huu Tho intersection; Construction of Nam Ly Bridge; Construction of Rach Dia Bridge (District 7 - Nha Be District); Expansion and upgrading of Duong Quang Ham Street (section from Binh Thanh District to Cultural Park); Expansion of Tan Ky - Tan Quy Street (Binh Tan District); Expansion of Dong Van Cong Street (section from Giong Ong To 2 Bridge to My Thuy intersection).

“In addition, the Traffic Department will finalize 22 projects. Coordinate with the Ho Chi Minh City Department of Transport to establish and approve investment policies for 30 projects. At the same time, complete compensation and site clearance for 40 projects. In particular, in 2024, the Traffic Department is determined to achieve a disbursement rate of over 95%, equivalent to VND 12,838 billion,” said Mr. Phuc.

The Ring Road 3 project, a section through Ho Chi Minh City that is over 47km long, passing through Thu Duc City and the districts of Cu Chi, Hoc Mon, and Binh Chanh, is being accelerated by contractors.

According to Mr. Luong Minh Phuc, in 2023, the City Transport Department was assigned a total capital of 31,287 billion VND. This capital can be divided into 2 groups: The capital group that can be disbursed with a total value of 20,587 billion VND and the capital group that cannot be disbursed due to objective reasons and force majeure with a total value of 10,700 billion VND.

“If we only calculate the amount of capital that can be disbursed of VND 20,587 billion, the disbursement rate in 2023 is 98% (about VND 20,219 billion), 4 times higher than the amount of capital disbursed in 2022. This is the result of great efforts of the Traffic Committee and the drastic direction and strong support of the leaders of Ho Chi Minh City at all levels, along with special working groups and departments, districts and towns,” said Mr. Phuc.

According to Chairman of the Ho Chi Minh City People's Committee Phan Van Mai, in 2024, the total capital assigned to the City Transport Board will decrease compared to 2023, however, the project management workload will not decrease but increase because new documents must be prepared in accordance with the spirit of Resolution 98. Therefore, each project needs to be reviewed, organized, and arranged closely by the Board from the number to the specific number of people and boldly apply technology, apply advanced project management methods to reduce personnel while still ensuring the workload.
“The Traffic Department needs to focus on key tasks, project documents that need to be submitted for appraisal must coordinate closely with departments, branches, and localities to complete and submit to the City People's Committee soon, promptly implementing according to the set plan. On the other hand, projects that have started and completed need to be planned in detail to monitor and ensure progress,” Mr. Mai assessed.

Luong Y

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