Public investment surges 30 percent in Jan-July period
VGP - Drastic measures performed by municipal and local authorities have pushed the project's progress in the first seven months.
Illustration photo
The local authorities allocated nearly VND31 trillion (US$1.2 billion) on public investment projects from January to July, according to the municipal People's Committee.
The figure increased by 30 percent on-year and was equal to 37 percent of the 2024 annual plan. Of the number, the Government allocated some VND12 trillion (US$478 million) for municipal authorities, up 18 percent on-year.
Among the key public investment projects in Ha Noi is the Ring Road No.4 – Capital Region project.
So far, Ha Noi has spent some VND12.6 trillion (more than $500 million) on the project, and nearly 10 percent of the construction progress has been accomplished.
Another important project is phase one of Ring Road No. 1's Hoang Cau - Voi Phuc section, which spans 2.3km. Phase 1 of the project has an investment of more than VND7.2 trillion (US$287 million), including VND627 billion (US$25 million) for construction and VND5.8 trillion (US$231 million) for land clearance. To date, one-third of the project capital has been disbursed.
The renovation and upgrade project of the National Route No.6 running through the Ba La - Xuan Mai area requires a total investment of VND8 trillion (US$323 million), including VND5 trillion (nearly US$200 million).
Other high-priority projects include the Thang Long Boulevard Expressway project, connecting National Route No.21 to the Hanoi - Hoa Binh Expressway, spanning 6.7km. The project's cost estimate is VND5.2 trillion (US$207 million).
The Ha Noi People's Committee is focusing on resolving difficulties and obstacles in investment procedures, providing maximum support to investors and construction units to reduce additional costs and waiting times.
In 2024, Ha Noi has 226 public investment projects on basic construction, consisting of 155 projects launched in previous years and invested with VND 205.5 trillion in total (including VND 24.4 trillion planned to be disbursed this year), and 71 new projects worth VND 7.2 trillion (including VND 1.1 trillion to be disbursed this year).
Among them, there are 58 transport projects, accounting for 19.5 percent of the capital plan./.
