Ninh Binh works to accelerate disbursement of investment capital

In an attempt to fulfill the "dual target" this year, the province's administrations at all levels, sectors, and businesses have been striving to accelerate the disbursement of investment capital in the year-end months.

Reports showed that, in the first ten months of 2021, the province's total sum of development investment was estimated to reach almost 22 trillion  VND (around 971.3 million USD), representing a rise of 4.7 percent from the same preriod of 2020.

Of which, the state's capital was 3.87 trillion VND, up 15.9 percent; non-state capital was 16.65 trillion VND, up 3 percent; and FDI reached 1.48 trillion VND, down 0.8 percent.

The province has used these capital sources to invest into key transport infrastructure projects connecting its regions and economic centers as well as irrigation works and dykes meeting needs for agricultural production and response to climate change and natural disasters. Infrastructure in the fields of healthcare, culture and IT have been invested in line with the development demand of the sectors.

One of the province's key projects is the building of infrastructure at the expanded 50-hectare Gian Khau Industrial Park. The project's site clearance has been completed, creating favourabe conditions for the contractor to speed up the construction progress. The contractor is building a drainage from the expanded Gian Khau Industrial Park to Gia Tan pumping station.

At the same time, the site clearance for a project to build inner roads leading to the dormitory and service facility for workers and a road connecting the dormitory to the expanded Gian Khau Industrial Park has been completed. The contractor is in the process of receiving the cleared site for the project.

The completion of these projects would make great contributions to the province's socio-economic development this year as well as in the period of 2021-2025, and create favourable conditions for Ninh Binh to attract strategic investors, thus increasing state budget revenues.

Apart from the key projects, in the first ten months of 2021, public capital has been poured into projects of localities, especially for those that are building new-style rural areas. These projects are to build technical infrastructure of residential areas in Gia Vien district (143.3 billion VND); build roads to the centers of mountainous communes of Yen Mo district (62 billion VND); and construct technical infrastructure of Gia Vien district's administration center (37.8 billion VND).

As for non-state capital, the investment has been disbursed for projects to build Kim Dai sluice (90 billion VND); construct a sluice gate to control salt water intrusion and upgrade Duong Diem dyke in Yen Khanh and Kim Son districts (24 billion VND); and upgrade and expand dykes along Hoang Long river (22 billion VND).

The site clearance for projects using government bonds have been also completed. Contractors are speeding up their construction to ensure their scheduled progress.

The disbursed capital for Cao Bo - Mai Son section of the North - South expressway reached 286.6 billion VND, while the disbursement for a project to build infrastructure for resettlement areas serving for the site clearance for Cau Gie expressway -National Highway 1A section running through Tam Diep city was 398 billion VND.

Foreign direct investment (FDI) has made great contributions to the province's socio-economic development in the past few years. In an attempt to call for foreign investors, Ninh Binh has step up investment promotions and renovated methods of investment in line with the new situation.

Local administrations at all levels and sectors have actively worked to remove difficulties in site clearance, simplify administrative procedures, and improve investment climate.

Thanks to these measures, the flow of FDI into Ninh Binh since the beginning of the year was estimated to hit 1.48 trillion VND.

In order to promote the effectiveness of capital investment in infrastructure, provincial authorities are reviewing plans to adjust public capital allocations for sluggish projects with low effectiveness to others with higher disbursement.

The province has made efforts to speed up these projects in line with the capital allocation plans, enhance the inspection and supervision, and  promptly handle organisations and individuals who cause outstanding debts in basic construction projects.

Translated by Nguyen Thuy