Ha Noi spends VND67 trillion for development investment in Q1 2021

01/04/2021

VGP – Ha Noi’s investment capital for development in the first quarter of 2021 was estimated at VND67 trillion (US$2.9 billion), up 8.2% over the same period last year, according to a recent report by the city.

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Of the figure, the State capital stood at VND24 trillion, representing 35.6% of the total and up 17.2% year-on-year. 

The investment capital from non-State sources hit VND36 trillion, accounting for 53.6% and up 3.4%, while foreign direct investment (FDI) capital reached VND7 trillion, making up 10.8% and up 5.5%.

Regarding investment categories, the capital for basic construction was estimated at VND41 trillion in Q1, representing 60.4% of the total and up 7.8% compared to Q1 2020; the capital for procurement of fixed assets used for production at VND18 trillion, or 26.6% and up 6.3%; the capital for asset repairs and upgrades at VND3 trillion, or 5.4% and up 24.5%; additional working capital at VND4 trillion, or 6% and up 8.4%; and the capital for other categories at VND1 trillion, or 1.6% and up 5.7%.

Concerning the implementation of a number of works and projects in the city, construction of the second phase of Vinh Tuy Bridge (3.4 kilometers) began in January 2021 with a total investment of more than VND2.5 trillion.

According to the Ha Noi People’s Committee, contractors have so far completed the drilling of some concrete piles and are continuing to implement the category of abutments. 

Following the completion of the project, the city will go ahead with the remaining components of Ring Road No. 2, aiming to increase travel capacity between the two sides of the Red River.

Work started on the Le Van Luong-Ring Road No. 3 tunnel project in October 2020 with a total investment of more than VND700 billion and a total length of 475 meters. 

Contractors   are now installing the underground electricity and water systems, expecting to complete the first phase of the project and move on to the second-phase trenching process by the end of June 2021. 

To ensure the progress, contractors have divided workers into five groups working round the clock. Due for completion in April 2022, the project will contribute to easing congestion at the Ring Road No. 3-Le Van Luong intersection./.

By Vien Nhu