Ninh Binh views public investment disbursement as way to revive economy

Ninh Binh has defined public capital disbursement as one of its key political tasks in 2022 to spur economic growth and fulfill the socio-economic development goals.

Administrations at all levels and local sectors have actively assisted investors and contractors to resolve difficulties, striving to complete the largest workload to speed up the progress of projects as well as disbursement of public capital, thus helping to revive and develop the local economy.

In an attempt to speed up the disbursement of public capital, since the beginning of 2022, the Ninh Binh Provincial People's Committee has steered sectors and administrations at all levels to soon finalise investment procedures, especially for projects which are kicked off in 2022.

At the same time, it also requested  investors to work closely with localities and contractors to accelerate the compensation work, site clearance, and promptly remove difficulties and hindrances related to land and natural resources; asked contractors to speed up the construction progress; and promptly check and accept, and pay for completed works.

In addition, investors were urged to review and check the progress of disbursement, as well as difficulties in the process of disbursement.

In particular, the provincial People's Committee established a working group to speed up the progress and disbursement of capital for projects in the province in 2022.

It also suggested imposing strict punishments on units and investors who showed slow disbursement or failed to fully disbursed the located capital and did not report and proposing the shift of capital to other projects.

These drastic measures have resulted in the positive outcomes. In the first half of 2022, the total disbursed development capital hit 19.9 trillion VND, an increase of 13.5% from the same period last year, equivalent to 55.1% of the yearly plan.

Of which, state budget capital reached 2.53 trillion VND, up 18%; non-state capital reached 9.74 trillion VND, down 4%; foreign direct investment capital reached nearly 2.6 trillion VND, a 3.5-folder rise. 

The disbursed public investment capital in the reviewed period was 3.15 trillion VND, equivalent to 50.2% of the yearly plan. Ninh Binh ranked 4^th in the top cities and provinces having the high rates of disbursement.

Resolution of the 22^nd Provincial Party Congress for the 2022-2025 tenure has set the goal of "Step by step finalising synchronous infrastructure and building a modern urban system".

To realise the resolution, since the beginning of the 2020-2025 tenure, many important investment projects in numerous fields have received approval from the Party Committee, People's Council, and People's Committee of Ninh Binh in order to gradually synchronize the province's infrastructure in connection with other regions, opening up new space for investment attraction in the short and long terms.

Accordingly, in 2022, the total public investment capital plan of Ninh Binh province is over 6.28 trillion VND, including capital sourced from the provincial budget.

Ninh Binh has focused on investing in strategic projects such as East - West road (phase 1), T21 road (phase 1), and DT.482 road connecting national highway 1A with national highway 10 and connects national highway 10 with national highway 12B in Ninh Binh province.

The province will also strengthen the investment management of projects such as provincial museum - library complex; conservation, upgrade, archaeological excavation and promotion of national relic site of Hoa Lu ancient capital; infrastructure construction of Trang An eco-tourism area and its component projects.

At the same time, Ninh Binh has also finalised investment procedures for approved projects such as Cha La bridge; and upgrade of connection point between a road leading to Khanh Phu industrial zone to national highway 10. 

In addition, it will pay more attention to handling difficulties and obstacles in an attempt to speed up the progress and disbursement of capital for current projects.

The province will also review and map out solutions to resolve sluggish projects.

Translated by Nguyen Thuy