US$2.2 billion for public investment in 2023
VGP - Ha Noi is set to allocate VND52.6 trillion (US$2.23 billion) for public investment projects in 2023, up 1.97% from the amount for 2022, said Director of the Ha Noi’s Department of Planning and Investment Do Anh Tuan.
Director of the Hanoi’s Department of Planning and Investment Do Anh Tuan
The Director revealed the figure at the 9th session of the Ha Noi People's Council held on September 12.
According to Tuan, the priority in 2023 would be for the city's key projects, including the Ha Noi Children Hospital-Phase 1, the Children Palace, the Yen Xa Wastewater treatment plant; and the Soc Son waste treatment complex Phase II.
The city will also ensure sufficient funds for Ring road No.4; projects under the national target programs; inter-provincial projects of upgrading national road No.6, section Ba La – Xuan Mai; highway running from the national road No.21 to the Ha Noi – Hoa Binh highway.
Regarding the progress of public projects this year, Mr. Tuan noted as of August 22, the city has disbursed VND13.84 trillion (US$588 million), or 27.1 percent of the year's target of VND51.5 trillion (US$2.2 billion).
"The slow progress was due to delay in investment procedures. Meanwhile, the reason for ODA projects lagging behind is sluggish site clearance," he said.
Ha Noi is set to need VND321.14 trillion (US$13.6 billion) for the five-year public investment plan in the tenure 2021-2025, of which VND62.3 trillion (US$2.64 billion) was allocated for the 2021-2022 period, or 26.5 percent of the total.
In 2022, Ha Noi expects around VND10.2 trillion ($443.2 million) would be assigned to rural and urban districts for developing their respective infrastructure projects, including the construction of new schools, upgrading healthcare facilities, and preservation historical sites, which reflects the city's attention to supporting the growth at grass-roots levels.
Ha Noi's priority order for investment would be aligned with the vision for the development of the transport sector and socio-economic infrastructure, namely ring road No.2.5, ring road 3, ring road 3.5, ring road 4; major bridges crossing the river (Vinh Tuy bridge Phase 2, Thuong Cat bridge); inter-provincial roads (national road 6, upgrading national road 32, national road 1A, 21B); and urban railway projects./.
