Expediting the Progress of Public Investment Projects

Identifying infrastructure development as a critical task, the province is focusing on decisive leadership to remove bottlenecks, shorten investment preparation time, and ensure the implementation progress of public investment projects in 2026, creating momentum for socio-economic growth.

Perspective of the Viet Tri - Hoa Binh route, connecting the Noi Bai - Lao Cai expressway with the Hoa Binh - Son La expressway.

According to a report from the Department of Finance, in 2026, the province has allocated a total capital source of nearly 5,000 billion VND to implement 36 public investment projects. Of this amount, the central budget provides over 1,470 billion VND in support for 2 projects; the provincial budget allocates nearly 1,600 billion VND for 21 projects; and 300 billion VND is designated as counterpart funding for 2 key projects, including: the Capital Region’s Ring Road 5 (the section from Vinh Thinh Bridge to the IC5 intersection of the Noi Bai - Lao Cai Expressway) and the Viet Tri - Hoa Binh Expressway (connecting the Noi Bai - Lao Cai Expressway with the Hoa Binh - Son La Expressway). Additionally, 1,500 billion VND from the provincial budget revenue surplus will be used to execute 16 other projects.

Despite the significant resources allocated, the progress of investment preparation and project implementation remains slower than required. Specifically, only 6 projects have received investment policy approval (of which 4 have yet to finalize project approval); 17 projects are under review, and 13 projects have not yet submitted dossiers to the Appraisal Council.

The Viet Tri - Hoa Binh route project, stretching approximately 56 km with an estimated total investment of 15,300 billion VND for the 2026-2030 period, has received initial investment policy approval. Mr. Nguyen Xuan Quang, Director of the Department of Construction, stated: "We are currently finalizing procedures for the appraisal and approval of investment preparation tasks and estimates. We are also coordinating with the Department of Finance to propose capital allocation and organize bidding for consultants to prepare the Feasibility Study (FS) report. We strive to complete investment preparations within 2026. However, as a large-scale project, it requires a careful review of capital balancing to ensure feasibility and efficiency."

To guarantee progress, the Provincial People’s Committee (PPC) has requested investors to urgently coordinate with departments to finalize dossiers for projects with policy approval but pending project approval, submitting them to the Department of Finance for detailed capital allocation. For projects nearing construction, units must complete the approval of construction drawings and cost estimates, and conduct contractor selection to ensure they are ready for commencement within the year.

For projects currently under investment policy review, particularly in the fields of national defense and security, the PPC assigned functional agencies to proactively coordinate and complete procedures promptly. For projects without submission dossiers, relevant units must urgently prepare Investment Policy Proposal Reports for the PPC’s consideration.

To ensure overall progress, the PPC demanded heightened accountability for heads of agencies and strengthened discipline in public investment management. Departments, sectors, and localities must develop detailed schedules for each project and item; expedite the appraisal and approval of designs and estimates; and organize contractor selection and contract signing in accordance with regulations to save time while ensuring quality.

Upon contract signing, investors must work closely with contractors to immediately initiate related procedures and prepare adequate resources, materials, and equipment. They are also tasked with proactively resolving material supply issues to avoid disruptions. Concurrently, departments and localities must enhance coordination, exchange information frequently, and propose solutions to the PPC for obstacles that exceed their jurisdiction.

With high determination and the synchronized involvement of the entire political system, expediting public investment projects will not only complete the infrastructure system but also serve as a vital engine for sustainable socio-economic growth in 2026 and beyond.

Khanh Duy