Da Nang strives to complete public investment disbursement hinh anh 1Illustrative image (Photo: https://thoibaonganhang.vn/)

Da Nang (VNA) Public investment disbursement of the central city of Da Nang was estimated to reach 3.4 trillion VND (over 149 million USD) as of August, according to the municipal Department of Planning and Investment.

This is a great effort as the city is facing difficulties due to the complicated developments of the COVID-19 pandemic.

In the remaining months of the year, the local authorities will implement many solutions in order to complete the set disbursement plan at the highest level.

According to Chairman of the municipal People's Committee Le Trung Chinh, the city will focus on accelerating land clearance and compensation, and simplifying administrative procedures in order to speed up public investment projects, especially major projects.  

During the second session of the municipal People's Council on August 12, participants approved a resolution on adjusting the city's public investment capital plan in 2021.

Accordingly, the total public investment capital in 2021 is nearly 9.7 trillion VND (over 425.4 million USD), down 140 billion VND compared to the previous plan set for the year.

In order to adjust the allocation of public investment capital in 2021, the municipal authorities will review works that have been suspended or have yet to carry out due to matters related to compensation and land clearance, and those that are unable to fully disburse the arranged capital.

Since the beginning of this year, the central city of Da Nang has adopted synchronous, flexible and effective measures to realise the Government’s double goals of fighting the COVID-19 pandemic and restoring socio-economic development.

Thanks to drastic anti-pandemic measures, the city has basically put the pandemic under control while maintaining production and trade.

According to the management board of the Da Nang Hi-tech Parks and Industrial Zones Authority, in the first seven months of this year, the local hi-tech parks and industrial zones drawn 499 projects with a total registered capital of nearly 26.7 trillion VND and over 1.74 billion USD, and 65,000 workers.

The board has assisted firms in conducting administrative procedures, while monitoring the observance of pandemic prevention and control measures, and coming up with plans to develop production while effectively combating the pandemic.

The local economy is gradually recovering and escaping the 2020 negative growth, evidenced by the gross regional domestic product growth of nearly 5 percent in the first half of this year, up 1.05 percentage points from the same period in 2019. The services sector expanded by 5.34 percent, and the industrial and construction sector picked up 2.85 percent. Such results proved that the management of the local political system and efforts by departments, agencies, people and businesses have been effective.

One of the factors helping Da Nang to regain the growth trend is the control of the COVID-19 pandemic. The key to the city's success in curbing the spread of the coronavirus is fast tracing and isolation and large-scale testing.

Drastic measures will  be implemented to restore economic growth, speed up public investment capital disbursement, and remove difficulties for key projects, especially delayed ones.

The locality will also pay attention to solutions to boost economic growth, speed up the disbursement of public investment, and remove difficulties for key projects, especially delayed ones.

During the fourth conference of the 22nd municipal Party Committee, delegates proposed key solutions for the last half of this year, including promptly providing assistance for residents and firms hit by the pandemic; dealing with “bottlenecks” in investment procedures, basic construction, site clearance, compensation; calling for investment in industrial clusters; and stepping up awareness campaigns to popularise Da Nang as a safe and attractive destination./.