Quang Ninh adjusts medium-term investment plan 2021-25
Quang Ninh adjusts medium-term investment plan 2021-25
Quang Ninh Provincial People's Committee earlier this month approved an adjustment and supplement to the medium-term public investment plan under the provincial budget for 2021-25, to enhance the efficiency of State capital.
Total capital set aside for the province's five-year plan increased by VND289 billion, partly thanks to a bonus of nearly VND94.9 trillion (US$3.83 billion) for exceeding revenue in 2021, approved by the Prime Minister in July.
The provincial budget after the adjustment is VND63.6 trillion, and the remaining unallocated capital is VND22.7 trillion.
The provincial authority decided to reduce capital assigned for the riverside road project connecting the Ha Long-Hai Phong highway to Dong Trieu township by over VND1.5 trillion while allocating nearly VND1.6 trillion from the unallocated capital for newly-added projects.
The allocation of public investment from the provincial budget is nearly VND2.9 trillion, of which VND2.89 trillion will be given to 25 projects newly added to the medium-term public investment plan, and one existing project will receive an additional VND4.9 billion.
Adjustment in 2022
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 VND1.16 trillion of 35 projects that are no longer needed due to the completion, final settlement or unguaranteed disbursement in 2022, while an additional VND1.7 trillion was allocated to the projects in need of capital.
For expenditure, the provincial People's Committee agreed to reduce the estimate of regular expenditures and the budget reserve to VND469.3 billion (of which, reduction of recurrent expenditure is VND301.4 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 VND289 billion to VND19.6 trillion.
Nguyen Xuan Ky, Secretary of the provincial Party Committee and Chairman of the People's Committee emphasised the responsibility of the heads of the branches and agencies in building programmes, 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.
Quang 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.
