Quảng Ninh adjusts medium-term investment plan 2021-25

Quảng Ninh adjusts medium-term investment plan 2021-25

QUẢNG NINH — Quảng Ninh Provincial People's Co妹妹ittee earlier this month approved an adjustment and supplement to the medium-term public investment plan under the provincial budget for  二0 二 一- 二 五, to enhance the efficiency of State capital.

Total capital set aside for the province's five-year plan increased by VNĐ 二 八 九 billion, partly thanks to a bonus of nearly VNĐ 九 四. 九 trillion (US$ 三. 八 三 billion) for exceeding revenue in  二0 二 一, approved by the Prime Minister in July. 

The provincial budget after the adjustment is VNĐ 六 三. 六 trillion, and the remaining unallocated capital is VNĐ 二 二. 七 trillion.

The provincial authority decided to reduce capital assigned for the riverside road project connecting the Hạ Long-Hải Phòng highway to Đông Triều township by over VNĐ 一. 五 trillion while allocating nearly VNĐ 一. 六 trillion from the unallocated capital for newly-added projects.

The allocation of public investment from the provincial budget is nearly VNĐ 二. 九 trillion, of which VNĐ 二. 八 九 trillion will be given to  二 五 projects newly added to the medium-term public investment plan, and one existing project will receive an additional VNĐ 四. 九 billion.

Adjustment in  二0 二 二

After reviewing and evaluating the results of implementing the projects under this year's plan, the provincial authority approved the resolution to adjust, supplement and allocate the province's budget expenditure estimates.

The public investment plan was adjusted down by VNĐ 一. 一 六 trillion of  三 五 projects that are no longer needed due to the completion, final settlement or unguaranteed disbursement in  二0 二 二, while an additional VNĐ 一. 七 trillion was allocated to the projects in need of capital.

For expenditure, the provincial People's Co妹妹ittee agreed to reduce the estimate of regular expenditures and the budget reserve to VNĐ 四 六 九. 三 billion (of which, reduction of recurrent expenditure is VNĐ 三0 一. 四 billion), at the same time providing additional funding for some tasks from the reduced adjustment source. As a result, the adjusted budget expenditure estimate increased from VNĐ 二 八 九 billion to VNĐ 一 九. 六 trillion.

Nguyễn Xuân Ký, Secretary of the provincial Party Co妹妹ittee and Chairman of the People's Co妹妹ittee emphasised the responsibility of the heads of the branches and agencies in building progra妹妹es, appraising projects to effectively implement the goals set by the provincial authority, ensuring balance and harmony between the industries and regions, while developing a specific monitoring mechanism to enhance efficiency and avoid the state capital loss.

Quảng Ninh is assigned a large scale of public investment capital, which plays a particularly important role in both creating resources and driving force for rapid and sustainable socio-economic development of the province, being one of the key pillars to ensure the two-digit gross regional domestic product (GRDP) growth. — VNS