(HBO) – In contrast to the low level of public investment capital disbursement in the past, in the first nine months of this year, Hoa Binh disbursed 62 percent of the total capital assigned by the Prime Minister this year, making the province one of the localities with highest disbursement ratio in the country. The result was attributable to the outstanding efforts of the provincial Party Committee and People’s Committee in leading and directing the work, which is considered one of the most important political tasks of the province in 2021.
Receiving timely investment, the project to connect the National Highway No.6 with Chi Lang Road of Hoa Binh city has been put into operation as scheduled.
This year, Hoa Binh is allocated 3.78 trillion VND (166.61 million USD) in public investment capital. The figure approved by the provincial People’s Council for the year is 4.08 trillion VND. As of September 30, Hoa Binh had assigned 4.03 trillion VND to projects, equivalent to 107 percent of the plan.
In the first months of 2021, the disbursement of public investment capital faced many difficulties and obstacles. In that context, the provincial People’s Committee rolled out drastic solutions to speed up the disbursement. The committee held regular meetings with investors of projects to explore difficulties facing them for timely solutions.
For projects that could not disburse the capital immediately or those that have completed without spending all the allocated capital, the provincial People’s Committee has made adjustments or cut down the capital for them and transfer the capital to other projects. From August 25 to September 30, the committee made five times of adjustments with total capital of 320.6 billion VND.
For projects using official development assistance (ODA) that cannot be implemented, the committee has submitted proposals to the Ministry of Planning and Investment and the Ministry of Finance on adjustments with total capital of 397.9 billion USD.
Commenting on the disbursement of public investment capital, Chairman of the provincial People’s Committee Bui Van Tinh underlined that as of September 30, Hoa Binh had been one of the top 11 localities nationwide in the ratio of disbursement. This reflects the effective directions and efforts to keep a close watch on the situation to give suitable solutions, as well as the high determination of the investors. However, the task in the rest of the year is tough, requiring more efforts to complete.
Local authorised agencies and localities should work harder, keep close watch of each project, strengthen supervision and inspection and settle difficulties and problems hindering the disbursement of the
Prime Minister Pham Minh Chinh attended a groundbreaking ceremony for an electronic printed circuit board (PCB) factory at Da River Left Bank Industrial Park in Hoa Binh province on April 13. The electronic PCB factory is invested by Japan's Meiko Group at a total cost of 200 million USD.
In the first quarter of 2024, the credit institutions in the province have actively deployed the legal documents of the State and the State Bank relating to currency, credit and interest rates. At the same time, they have promoted the capital mobilization, focusing on the solutions to expand the credit investment along with strengthening the credit quality management, lending to priority programs to promptly meet the capital needs for export - business and consumer demand during Tet in 2024.
Outside the key economic region of Hoa Binh, yet Lac Son district has utilised its potential and strengths regarding labour, land, and transportation connectivity to attract investment to the locality, contributing to promoting socio-economic development.
In a move to expedite the execution and disbursement of the 2024 capital plan for ODA projects, aiming for a disbursement rate of over 90% of the allocated funding, the Hoa Binh People's Committee issued Document No. 483/UBND-KTN on April 3, 2024, regarding such efforts.
Nguyen Van Thap from Kim Duc hamlet, Vinh Tien commune, Kim Boi district, has built the brand of Hoa Qua Son for local fruits. His efforts have brought about income for his family and generated job opportunities for locals, helping hundreds of households escape from poverty.
The Hoa Binh administration was entrusted by the Prime Minister with a budget of 3.43 trillion VND (142.91 million USD) for investment in 2024. The provincial People's Council approved nearly 3.76 trillion VND, which has been meticulously allocated to projects, achieving 100% of the assigned capital plan.
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