Hanoi accelerates public investment disbursement

Stepping up project inspections

According to the Hanoi Statistics Office, in the first quarter of 2023, the city directed and urged investors and construction units to speed up the progress of major projects and works.

Hanoi has increased resources to speed up progress of major projects

During the period, about VND81.8 trillion of development investment was disbursed, up 8.6 percent year-on-year. Of the total, VND27.4 trillion was provided by the state budget, up 2.9 percent; VND48 trillion by the non-state sector, up 58.6 percent and the rest by foreign investors, up 15.4 percent.

Realized investment capital from the state budget managed by localities in March 2023 was estimated at VND3.066 trillion, up 2.3 percent over the same period last year. This raised the accumulated Q1 investment of this kind to VND8.1 trillion, equal to 15.7 percent of the year’s plan, down 4.5 percent year-on-year.

Construction in the first quarter of 2023 witnessed positive changes after the municipal authority urged contractors and construction units to speed up the progress of major projects, contributing to the acceleration of public investment disbursement.

In 2023, Hanoi has 238 public investment projects under construction, including 219 projects still underway from previous years and 19 newly-started projects, of which 96 projects are in the transport sector with a total investment of VND7.52 trillion, accounting for 53.1 percent of the capital volume that the city is assigned to disburse this year.

In all, the capital city’s major projects in the 2021-2025 have been making good progress in line with their schedules.

Handling emerging problems

In order to handle problems arising in public investment projects, the Hanoi People's Committee has just issued Plan No.123/KH-UBND on inspecting and evaluating the city’s investment projects in 2023.

The plan calls for periodical inspections of 44 public investment projects and non-public investment projects using state budget funds, and of 10 new projects not included in the inspection plans. The plan also calls for inspection of 15 projects that do not use the state budget, and of 11 new projects and a number of slow and suspended projects.

As for investment evaluation, the city People's Committee assigned specialized agencies including its departments of Construction, Transport, Industry and Trade, Agriculture and Rural Development, Natural Resources and Environment, Health, Education, and Culture-Sports to select at least two projects within their fields for evaluation of investment efficiency. This will enable authorities to detect shortcomings and difficulties and adopt timely solutions in order to speed up projects and to propose amendments of related regulations on investment supervision and evaluation.