Restructuring and enhancing the efficiency of public investment has been a major policy of the Party and the State, as well as a strong political commitment of Hoa Binh province during the five years of implementing the Resolution of the 17th Provincial Party Congress for the 2020 - 2025 term.
With the concerted efforts of the entire political system, public investment in Hoa Binh is not merely reflected in financial figures but also represents the province’s political resolve and strategic vision for sustainable and breakthrough development.
Determination to promote public investment
For a province with abundant development potential like Hoa Binh, effective public investment is essential for economic restructuring and shifting the growth model. The 2020–2025 period has witnessed a more synchronised and resolute mobilisation of the entire political system to unlock the potential of public investment.
With the allocated budget, the province has implemented 257 projects, including carry-over projects from 2016 - 2020, while launching 121 new ones during the current term. Under the three national target programmes alone, total allocated capital has reached 2.6 quadrillion VND (approximately 99 billion USD). Notably, the province has prioritised resources for two key projects: the Hoa Binh–Moc Chau Expressway and the inter-regional road linking Hoa Binh with Hanoi and the Son La Expressway. These are considered strategic initiatives, reflecting Hoa Binh’s readiness to undertake large-scale, nationally significant projects that enhance regional connectivity and expand development space for the province and its neighbours.
According to Quach Tat Liem, Vice Chairman of the provincial People’s Committee, the 2021–2025 medium-term public investment plan holds crucial significance not only for socio-economic development during the term but also in laying the stepping stone for years to come. With unified awareness and coordinated action, the entire political system has mobilised resources across all sectors and levels.
The provincial People’s Committee has taken strong action, setting up working groups to oversee disbursement progress and monitor each project's timeline. It has prioritised removing obstacles hindering delayed projects, treating accelerated public investment disbursement as an urgent and top-tier task.
From political will to practical action
Since 2021, the Provincial Party Committee, People’s Council, and People’s Committee have remained actively engaged in removing bottlenecks affecting public investment projects. Disbursement progress has been identified as a key annual political task and a performance metric for Party committees and local administrations.
Alongside strengthening Party leadership, inspection and supervision mechanisms have been intensified. Supervision teams from the Provincial Party Committee and People’s Council have conducted regular reviews on capital use at district and departmental levels.
The province has consistently implemented comprehensive solutions to make effective use of medium-term public investment capital, contributing to the realisation of strategic development goals set for the 2020–2025 term.
Challenges in the final year
Despite strong political determination, the province’s public investment outcomes have not met expectations, as various implementation challenges have caused delays and reduced disbursement rates.
According to assessments of fund disbursement from 2021 to 2024, several funding sources failed to reach the 70% disbursement threshold by the end of 2024. For example, central government budget disbursement by sector and field stood at only 46%, while Official Development Assistance (ODA) reached just 58%. The provincial budget fared better at approximately 80%, with disbursement of capital construction funding at 73% and land-use revenue-backed investment at 71%. Disbursement of 2025 allocations, as of the end of May, remained significantly below the set target.
Speaking at a recent thematic supervision session of the provincial People’s Council on the implementation of the public investment plan for 2021–2025, Nguyen Thi Cam Phuong, Permanent Vice Chairwoman of the Council, acknowledged that despite structured and well-targeted actions driven by strong political will, numerous bottlenecks continue to constrain the effectiveness of public investment.
She stressed the urgency of avoiding capital stagnation, which could stall the province’s development momentum. In the remaining months of 2025, Hoa Binh faces a substantial workload as it has to raise disbursement rates while also laying the legal and institutional groundwork for the next phase of development.
