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Ho Chi Minh City Accelerates The Pace Of Public Investment Project

Ho Chi Minh City accelerates the pace of public investment projects

Ho Chi Minh City wants to be allocated capital in accordance with the ability to balance the budget, to mobilize capital to allocate capital there. Implementing many solutions to mobilize more capital to spend on public investment.

HCMC People’s Committee has sent proposals to the Ministry of Planning and Investment, the Ministry of Finance, the Ministry of Construction … on some solutions to accelerate the implementation of the public investment plan in 2017.

Accordingly, the People’s Committee of Ho Chi Minh City wants the arrangement of capital must comply with the principles and order of priority under the Law on Public Investment. Continuing to implement the principle adopted by the People’s Council of Ho Chi Minh City years ago.

To allocate capital according to the budget balance ability, mobilize capital to allocate capital there. Implementing many solutions to mobilize more capital for public investment. The total investment capital for public investment in 2017 must be higher than in 2016.

Ho Chi Minh City accelerates the pace of public investment projects
Lo Tan Gom is invested with budget to improve the water environment of Ho Chi Minh City

At the same time, there are plans to reduce capital for projects with low disbursement rate, additional funds for projects with high disbursement rate and is likely to finish in 2017.

To manage revenue sources and foster revenue sources, intensify solutions to increase the mobilization of budget capital. To review the entire resettlement fund in Ho Chi Minh City, there are plans to transfer or auction the resettlement fund so far cannot be arranged to recover the budget capital, increase the revenue to ensure sufficient source of funds for development investment.

For projects which have been registered by the departments, the People’s Committees of districts and investors from the budget, the city has approved the investment policy, in the process of implementation if any. Investors are interested, registered investment, the review should report to the People’s Committee of Ho Chi Minh City approved the policy of transformation into the public-private partnership.

In addition, the People’s Committee of Ho Chi Minh City also proposed the Ministry, issued a plan to promote the socialization of investment to mobilize all available resources in the people to build and develop Ho Chi Minh City.

Promote the implementation of the stimulus package. To inspect and supervise the progress of projects, take measures to handle those contractors that fail to meet the requirements, violate the terms of the signed contracts, resolutely dismiss the contractors without Capacity has been violated.

Ho Chi Minh City accelerates the pace of public investment projects
The total investment capital for public investment in 2017 must be higher than that of 2016.

Previously, the People’s Committee of Ho Chi Minh City also reported to the Office of Government and other ministries on the situation of receiving and using ODA and preferential loans in the second quarter of 2015.

Currently, HCMC is monitoring 15 projects with ODA capital with total investment capital of nearly VND110,000 billion. However, in the first 6 months of 2015, ODA disbursement of projects was still slow, reaching only 44% of the planned capital. Specifically, the infrastructure sector reached 43.5%, the sector reached 58.3%.

The reason is that the speed of disbursement is low due to the compensation of land clearance, relocation of utility works are difficult. The construction of some packages is difficult due to the division of traffic, construction in narrow areas and the handling of underground works. In addition, some projects have to adjust the design to suit the situation as well as handle some situations in the bidding.

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Ho Chi Minh City Accelerates The Pace Of Public Investment Project
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