The total capital of the city’s adjusted public investment plan in 2021 was VND8,159.696 billion, VND1,224.586 billion higher than the amount assigned by the Central Government. Of this figure, VND7,471.896 billion was from domestic sources, whilst the remaining VND687.8 billion was worth of foreign capital.

Standing Vice Chairman of the Da Nang People’s Committee Ho Ky Minh speaking at the event.

As of late January 2022, VND7,167.840 billion in public investment capital had been disbursed, representing 103.4% of the yearly plan assigned by the National Assembly and the Prime Minister and 87.8% of the target set by the Da Nang People's Council.

The remaining public investment capital in 2021 that has yet to be disbursed was VND991,856 billion. Of this, VND628,586 billion was from the city budget, and VND363.269 billion from the national budget.

As a result, the disbursement rate of public investment capital in 2021 in the city was higher than that assigned by the National Government in the spirit of Resolution No. 63/NQ-CP dated June 29, 2021 issued by the Government, and Official Letter No. 1082 /CD-TTg dated August 16, 2021 issued the Prime Minister.

The statistics figures were released by Da Nang People’s Committee Vice Chairman Ho Ky Minh in his report at the 5^th session of the Da Nang People’s Council in its 10^th tenure during the 2021-2026 term on Friday.

“The positive result shows a great effort made by leaders at grass roots level, branches, all-level authorities, investors, project management boards and related units in the context of the complicated developments of the pandemic", emphasised Vice Chairman Minh.

According to a report by the Da Nang branch of the State Treasury of Viet Nam, in 2021, the city focused on speeding up the implementation and disbursement of the 2020 public investment capital plan in the city with an amount of VND812.030 billion out of VND1,341.067 billion, equal to 60.6% of the expanded public investment capital plan.

Notably, the disbursement of central budget investment capital in 2021 faced many difficulties. A combined total of VND1,329.153 billion out of VND1,692.422 billion was disbursed as of January 31, 2022, or 78.54% of the assigned plan.

With regard to the negative effects on the disbursement rate of public investment capital in 2021, unfavorable weather conditions with storms and heavy prolonged rains and the complicated development of the COVID-19 wave drove some major construction works in the city into temporary halt.

At the same time, as triggered by the coronavirus surge, the city's budget revenue suffered from an unexpected decrease, which adversely affected investment spending for 2021, especially the last months of the year.

Vice Chairman Minh revealed that the Da Nang People's Committee has proactively issued Decision No. 348/QD-UBND dated January 26, 2022 on a number of tasks on implementing and disbursing the 2022 public investment capital plan.

Accordingly, investors, operating units, project management boards, departments, committees, branches, and district-level People's Committees, are required to complete investment procedures as soon as possible according to their assigned functions and tasks in a bid to ensure conditions for allocating capital as prescribed, and develop detailed disbursement plans and targets every month.

Also, Chairmen of district-level Site Clearance Councils have been urged to accelerate the progress of compensation and site clearance work to hand over the site to the construction units, as well as have been responsible for the disbursement rate of projects in localities.

Heads of agencies and units are in charge of implementing tasks and disbursing public investment capital in 2022, with priority given to solving difficulties and problems or proposing solutions to competent authorities to handle problems beyond their competence in order to quickly complete investment procedures and soon deploy projects.

Specially, in order to take the initiative in site clearance, the municipal government has issued Decision No. 385/QD-UBND dated January 28, 2022 on the issuance of site clearance and compensation plans for the aforementioned projects in 2022.

Reporting by T.HUY - Translating by M.DUNG