The Vietnamese government set a public investment disbursement target of 15.278 trillion dong for Binh Duong Province this year. — VNA/VNS
HANOI: Binh Duong Province is accelerating public investment disbursement for key projects to promote local socio-economic development.
The Vietnamese government set a public investment disbursement target of 15.278 trillion dong for Binh Duong Province this year, while the province People’s Council has approved a disbursement budget of 22 trillion dong.
However, as of Nov 7 the disbursed capital was only 7.293 trillion dong, equivalent to 47.7% of the target and 34.7% of the budget.
Currently, major projects in the province face disbursement challenges due to changes in public investment laws and delays in key projects, which have caused them to fall short of initial plans and investor commitments.
Binh Duong authorities set directives for public investment disbursement at the start of the year, but despite these efforts, the disbursement rate remains low and well below expectations.
To address this, the province is accelerating public investment disbursement in the remaining weeks of 2024.
The provincial authority has reviewed and reallocated funds from delayed to prioritised projects for immediate disbursement.
The provincial People’s Committee issued a decree to adjust this year’s public investment plan for 16 projects.
Of these, 11 had a budget reduction of 562 billion dong, with the largest cut of 500 billion dong made for the land clearance project for Ring Road 4 from Ho Chi Minh City’s Thu Bien Bridge to the Saigon River.
Five projects have been allocated an extra 562 billion dong, including upgrades to provincial road 746 and 748 and the dredging of the Cai Stream from the Tho Ut Bridge to the Dong Nai River.
Investors have been instructed to develop detailed monthly disbursement plans for each project and propose internal fund adjustments as needed.
The province has also arranged overtime support, strengthened monitoring and enforced accountability with respect to public investment disbursement.
Targets have been set for each department, with rewards planned for individuals and organisations that effectively complete public disbursement tasks.
Binh Duong Province is also improving administrative procedures by enhancing coordination between departments. — Viet Nam News/ANN
