Hanoi adopts five-year public investment plan

Illustrative image (Source: VNA)

The People’s Council of Hanoi has approved a resolution on middle-term public investment plan for the 2021-2025 period.

According to the municipal People’s Committee, the disbursement of public capital of a number of projects has lagged behind schedule, with some stagnant projects in the 2016-2020 period cancelled. Meanwhile, the demand for middle-term public investment remains huge.

In March, the committee asked local departments, districts and investors to make updates and adjustments to the city's plan.

Along with requesting local authorities to apply measures to speed up the progress of projects from all stages, municipal authorities have asked for the allocation of enough capital for underway projects, the adjustments of stagnant projects and the careful consideration of new projects to match the city’s capacity in resource balancing.

In order to effectively implement the plan, the city asked local sectors, departments and localities to work closely together to deal with difficulties in the disbursement of public investment capital, while speeding up the progress of new projects.

The Department of Construction was asked to improve the quality of its project proposals and estimated investment for each project.

Particularly, the city People’s Committee has asked for drastic measures to remove obstacles in ground clearance for public investment projects.

The committee also requested relevant agencies to fully and accurately report the outstanding debts for capital construction and capital needed for projects to be completed in the 2021-2025 period./.