Contractors of the North-South Expressway Project urgently accelerates progress to achieve disbursement output. (Photo: Viet Hung/Vietnam+) Hanoi (VNA) - The Transport Ministry is making efforts to speed up the disbursement of public investment capital in the last months of the year to achieve the plan assigned by the Government.
The plan is to disburse 95 trillion VND for those projects with completed procedures. This includes 4.96 trillion VND in foreign capital and 89.18 trillion VND of domestic capital.
The Ministry of Transport is endeavoring to complete key projects, including seven component projects of the North-South Expressway in the first phase, the My Thuan - Can Tho Expressway, and the Hau River traffic route in the second phase. Poor-performing contractors, collectives, and individuals need to adhere to the project objectives or be dealt with accordingly.
An item of the North-South Expressway Project is under construction. (Photo: Viet Hung/Vietnam+) The ministry will push for better progress with certain core transport infrastructure and large-scale inter-regional and urban infrastructure projects. Those projects included under the national socioeconomic development and recovery program, particularly the Eastern North-South Expressway in the 2017-2020 and 2021-2025 periods, the Bien Hoa - Vung Tau Expressway in the first phase, and the Khanh Hoa - Buon Ma Thuot Expressway.
It will also work closely with localities to speed up progress of projects such as Ring Road No. 3 in Ho Chi Minh City, and the Ring Road No. 4 in the Hanoi Capital Region. Other expressways included in the projects are the Chau Doc - Can Tho - Soc Trang in the first phase, Dau Giay - Lien Khuong, Dak Nong - Binh Phuoc, Nam Dinh - Ninh Binh - Thai Binh - Hai Phong, Lang Son - Cao Bang, Hoa Binh - Moc Chau, and Ha Giang - Tuyen Quang, and urban railway projects.
The ministry said that capital disbursement is the most important task, so investors must develop detailed disbursement plans for each project from the beginning of the year, with priority given to key, urgent projects and those that must be completed this year.
Concurrently, it also called for improved mobilization and use of investment resources, and the continued mobilization of official development assistance (ODA) and preferential loans from donors.
By the end of October 2023, the Ministry of Transport's report showed that the ministry's disbursement of public investment capital reached about 63,500 billion VND, making up 68% of the year's plan.
In particular, the North-South Expressway Project for the period 2017-2021 has been disbursed nearly 11.3 trillion VND (reaching 69%) and the period 2021-2025 has been disbursed more than 33.2 trillion VND (reaching 72%).
The Ministry of Transport asks investors to develop a disbursement plan in advance as a basis for building construction progress. (Photo: Viet Hung/Vietnam+) Meanwhile, the disbursement rate of the Bai Vot-Ham Nghi Expressway Project is 74 percent, Bung-Van Ninh (70 percent), Van Ninh-Cam Lo (75 percent), Van Phong-Nha Trang (73 percent), Hau Giang-Ca Mau (77 percent), Ham Nghi-Vung Ang (66 percent), Quang Ngai-Hoai Nhon (69 percent), Hoai Nhon-Quy Nhon (66 percent), Quy Nhon-Chi Thanh (60 percent), and the Chi Thanh-Van Phong (64 percent).
The two component projects with the highest disbursement rate are the Can Tho-Hau Giang section (91 percent) and Vung Ang-Bung (86 percent).
The Ministry proposed solutions to roadblocks, requiring investors to speed up disbursement progress, promptly transfer capital from projects with slow disbursement to projects with good disbursement ability, and immediately handle weak contractors./.
