According to its report about public investment in 2022 and its plan for 2023, the Da Nang government proposed more than VND7,947 billion worth of public investment capital will be disbursed in 2023. Of which, over VND7,384 billion will come from the city budget, whilst the remaining VND563 billion will be from the national budget.

The construction of the Hoa Xuan wastewater treatment station at phase 3 is underway. Photo: THANH LAN

The Da Nang government will allocate public investment capital for 7 priority fields and projects.

Specifically, priority will be given to pour capital into projects with capital construction debts; projects that have had a decision on approving the final settlements or are submitting them for approval, and extend their completion deadlines to 2023 and after 2023; and freshly-kick-started ones according to the provisions of the Law on Public Investment.

Besides, the capital will be disbursed to investment preparation projects that have been allocated capital in the medium-term public investment plan for the 2021 - 2025 period, and to planning tasks, applicable only to projects eligible for the allocation of public investment capital under the Law on Planning and the Law on Public Investment.

According to the municipal Department of Planning and Investment, in order to ensure the balance and allocation of capital in the above-mentioned priority order, the city will pay special attention to settlement and transition construction works according to National Assembly Standing Committee-adopted Decision No. 973/NQ-UBTVQHI4 dated July 8, 2020, and Prime Minister-issued Decision No. 26/2020/QD-TTg dated September 14, 2020 of the Prime Minister.

Notably, great efforts will be made to thoroughly grasp relevant units to ensure that there is no outstanding debt for basic construction. Particularly for districts, importance will be attached to allocating capital to create initiative for the district-level authorities to implement civil works, ensuring social welfare within the scope of management.

A waste water treatment project at coastal areas on the eastern side of Son Tra and Ngu Hanh Son districts in Da Nang is nearly completed

Accordingly, the scale of the allocation of investment capital will increase by 10% compared to 2022 plus the savings in budget expenditure in 2021.

Some important, urgent and necessary projects for early implementation will be submitted to the municipal People's Council for approval of the investment policy, and will add medium-term plans according to regulations.

As for the central budget-funded projects, the city's counterpart budget capital shall be allocated to implement projects using this budget capital included in the list of the medium-term plans for the 2021- 2025 period.

In particular, the formulation, appraisal and submission for the approval of investment policies and investment projects must ensure the Law on Public Investment and the capital source plan, and be suitable to the budget capacity during the implementation time.

The list of projects to be prepared for investment must be included in the list of medium-term public investment plans for the 2021-2025 period.

According to Director of the Department of Planning and Investment Tran Thi Thanh Tam, 2023 is the middle year of the 2021 - 2025 period set for the city’s socio-economic development and medium-term public investment plans.

Therefore, she underlined that the implementation of the public investment plan in 2023 must closely adhere to the goals, Party guidelines and National Assembly resolutions, Prime Minister’s directives and guidance documents.

Heed should be on promoting investment attraction, improving business environment, reforming administrative procedures, fostering economic growth, and generating revenue to meet investment spending from the city budget.

In addition, efforts should be made to ensure the early implementation of projects with the support from the central government, inter-regional capital and ODA, foreign loans, she added.

Reporting by THANH LAN - Translating by M.DUNG