By the end of the first quarter this year, the disbursement rate of public investment capital in almost localities in the province is low, only 3 to 10 percent of the annual plan. The public investment capital plan managed by the province in 2023 totaled some 9.925 trillion VND (423.3 million USD) including 6.738 trillion (287.4 million USD) of the local budget and the rest allocated from the central budget.

The traffic intersection of Voi town and Bac Giang-Lang Son expressway is among the construction works lacking of land for ground leveling.

Based on the practical demand, the province will allocate public investment to run new projects and continue construction of hundreds of projects in the fields of transportation, health, irrigation, education and environment.

According to Director of the provincial Department of Planning and Investment Bui Thi Thu Thuy, the implementation value of the construction projects reached over 1 trillion VND (42,650 USD) in the first 3 months while the disbursement value was about 800 billion VND (34,120 USD), only 8.4 percent of the annual plan and lower than the same period last year.

As acknowledging the importance of on-schedule disbursement of public investment capital to boost the province’s economic growth, Chairman of the provincial People’s Committee issued the Directive No 02/CT-UBND on accelerating disbursement progress of public investment and fulfilling the 3 national target programmes.

The province is planned to disburse at least 40 percent of the allocated public investment capital by the end of June, 70 percent of the capital plan as of September 30, 100 percent of the lengthened capital resources by the end this year and 100 percent of the whole-year capital plan as of January 31, 2024.

At the regular meeting in March, Chairman of the provincial People’s Committee Le Anh Duong ordered the related agencies and units to pay high attention to speeding up disbursement of public investment with a priority for accelerating disbursement of the existing capital resources.

The province established an inter-agency task force to inspect, accelerate and support the investors to remove obstacles in disbursement of capital. The task force will concentrate on supervising the projects of this year to prevent making unfeasible capital plans, which overreach the actual ability; thereby seeking solutions for adjustment and prioritizing financial resources for urgent and adequate projects.

The districts of Luc Nam, Yen Dung, Viet Yen, Hiep Hoa and Tan Yen need to assign related units to closely supervise every contract to propose timely solutions against obstacles facing each project. Besides, it is necessary to consider transferring investment capital from the projects with low disbursement rate to those with high disbursement rate.

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