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As of October 15, the progress in disbursing public investment capital in the province reached 44.3% of the plan assigned by the Prime Minister and 32.2% of the plan set by provincial People's Council. Binh Duong is intensifying efforts and mobilizing maximum resources for this critical political task, significantly contributing to economic stimulation, job creation, achieving the local socio-economic development goals for 2024.

On the afternoon of October 17, Vo Van Minh, Vice Secretary of provincial Party Committee and Chairman of provincial People's Committee, chaired a meeting to review public investment work in the first nine months of 2024 and outline key tasks for the rest of the year. He also launched a peak emulation plan to boost public investment capital disbursement for 2024.

To ensure public investment capital disbursement under the set plan, since early this year, provincial leaders have implemented various groups of solutions. In picture: Provincial working delegation inspects and surveys the progress of the Ho Chi Minh City belt road project in the section passing through Binh Duong province

According to provincial Department of Planning and Investment, despite having lots of improvement, the disbursement rate of public investment capital since early this year has still not met expectations. As of October 15, 2024, the value of public investment capital disbursed in the province was more than VND 6.766 trillion and VND 544 million, reaching 44.3% of the capital plan assigned by the Prime Minister and 32.2% of the capital plan assigned by provincial People's Council. Among the localities that signed disbursement progress commitments with provincial People's Committee earlier this year, the ones expected to meet the progress by the end of the third quarter include North Tan Uyen district (committed to 60%, currently achieving 70.4%), Bau Bang district (committed to 60%, currently achieving 69.5%) and Dau Tieng district (committed to 60%, currently achieving 62.3%).

At the conference, leaders of various departments and localities cited several reasons for slow disbursement, including prolonged investment procedures involving multiple levels and sectors, challenges in land clearance and delay in capital mobilization for public investment. Furthermore, the implementation of laws and regulations such as the Bidding Law and the Land Law, has been slow and inconsistent, affecting bidding procedures.

Key provincial projects, including the belt road 3 project in Ho Chi Minh city, the project on expansion of National Highway 13 and the project dredging Cai stream at the section from Ut bridge to Dong Nai river are being accelerated to ensure timely completion. Recently, Binh Duong has inaugurated the North Tan Uyen - Phu Giao - Bau Bang arterial road and the Bach Dang 2 bridge (connecting Binh Duong and Dong Nai). The province also broke ground on major projects such as the A1 roundabout complex and the Cay Truong Industrial Park, boosting the disbursement of public investment capital. Additionally, two major transportation projects, including belt road 4 in Ho Chi Minh City and the Ho Chi Minh city - Thu Dau Mot - Chon Thanh expressway with a total length of 52km are expected to begin construction by the end of 2024.

Striving for the highest disbursement rate

In 2024, Binh Duong was allocated more than VND 15.27 trillion in public investment capital, including more than VND 3.18 trillion from the central State budget and more than VND 12.09 trillion from the local State budget. Provincial People's Council passed the Resolution No.21/NQHDND dated December 8, 2023 and the Resolution No.21/NQHDND dated August 23, 2024 to raise the province’s public investment plan to VND 22 trillion, up more than VND 6.72 trillion from the plan assigned by the Prime Minister.

Vo Van Minh, Vice Secretary of provincial Party Committee and Chairman of provincial People's Committee speaks at the conference

Binh Duong is focusing on accelerating major inter-regional traffic projects with significant investment and high land clearance site- compensation costs, including belt roads 3 and 4 in Ho Chi Minh city and the Ho Chi Minh city - Thu Dau Mot - Chon Thanh expressway. Provincial People's Committee has also issued a plan in response to the peak emulation campaign "500 days and nights of completing 3,000km of expressways".

Concluding the conference, Vo Van Minh, Chairman of provincial People's Committee, called for the drastic and synchronized implementation of various groups of solutions and measures to execute the intensive public investment disbursement plan for 2024, with the highest possible disbursement of public investment capital ensured under the spirit of "urgency and proactivity", considering the promotion of public investment disbursement as an important political task. Provincial People's Committee assigned specific public investment disbursement targets to each agency and unit. Along with this, provincial People's Committee Chairman demanded relevant units to absolutely deal with all obstacles in public investment disbursement; reducing the time for investment procedure resolution for public investment projects by at least 30% compared to current regulations while intensifying administrative reforms, applying information technology to the task of handling public investment procedures, arranging additional work outside normal working hours, increasing working shifts and teams, and organizing reasonable construction to expedite progress and meet requirements for project quality and labor safety, promoting decentralization and individualization of individual responsibility in disbursement of public investment capital…

Provincial People's Committee Chairman has directed all-level authorities and sectors of the province to intensify efforts to further accelerate the disbursement of public investment capital, especially for key projects identified for completion during the 2020-2025 term of provincial Party Committee. He emphasized the need to strengthen on-site inspection and supervision tasks, urging contractors to speed up the progress of projects while closely monitoring and promptly resolving issues, taking responsibility for the disbursement results of each project. Specifically, for projects facing obstacles in land clearance, he required investors of the projects to continue closely coordinating with localities where the projects are located to focus on removing difficulties and proactively proposing solutions in the spirit of working for common benefits. The goal is to achieve the highest possible public investment disbursement rate by December 31, 2024.

Reported by Ngoc Thanh-Translated by Kim Tin