“Final Push” for public investment disbursement

With less than a month remaining until the end of 2024, relevant departments, project investors, and local People’s Committees are making maximum efforts, focusing on leadership and direction to accelerate the progress of project implementation, settlement, and finalization in compliance with legal regulations. This is contributing to the final push in the disbursement of public investment (PI) funds for the province.

Currently, under the determined direction of the Provincial People’s Committee and the responsible involvement of various levels, sectors, and localities, the joint venture of contractors is taking advantage of favorable weather conditions, focusing all available machinery, vehicles, and resources to carry out construction across the entire route with a “do not retreat” approach. The construction is organized in “3 shifts, 4 teams,” with the goal of completing site clearance and resettlement in Quarter 4 2024, finishing the construction of the route and basic technical infrastructure in Quarter 1 2025, and completing the entire project by Quarter 2 2025.

One of the key projects being urgently implemented is the renovation and upgrading of the road from Dong Xuan to Thanh Ba Town, spanning 1.7 kilometers. Launched at the beginning of 2024, the contractor has now completed the majority of the K98 roadbed construction in Dong Xuan Commune and Thanh Ba Town, covering a total length of 1,583.52 meters. The remaining 121.72 meters of the K98 roadbed are still under construction, with work ongoing to pour concrete for the drainage channel base and stabilize the upper slope.

Mr. Dinh Tien Dung, the site manager from the joint venture of An Huy Investment and Construction JSC and Tatraco Construction and Trade JSC, overseeing the project, stated: "We are fully concentrating our manpower and equipment to ensure the project progresses on schedule. The work continues uninterrupted from Monday to Sunday, with additional night shifts assigned depending on the phase. Currently, taking advantage of the dry weather, we have over 50 workers and numerous machines deployed daily to carry out the project. The completed work volume has reached about 92%, and we expect to complete the first-grade base layer for the entire route by December 15, 2024. We are aiming to finish the entire project by January 31, 2025."

Along with the above projects, many other projects in the province are currently entering the peak construction phase, taking advantage of favorable weather conditions, and overcoming numerous difficulties and obstacles that have been addressed. These include projects such as the Provincial Culture and Arts Center, the road connecting 313G Tan Son to Yen Lap, the 325B Road (Lam Thao - Phu Tho town), the road linking National Highway 32C to National Highway 70B going to Hoa Binh province, the Thanh Son - Thanh Thuy road for the 2021-2025 period, and the road connecting Km30 of the Tuyen Quang - Phu Tho expressway to the center of Thanh Ba town ...

The year 2024 is of significant importance, representing a year of acceleration and breakthrough to successfully achieve the goals and tasks set by the 13th Congress of the Communist Party of Vietnam and the 5-year socio-economic development plan for 2021-2025. In this, public investment has been identified as a key task with important roles in political, socio-economic, national defense, and security matters. Therefore, from the beginning of the year, the provincial People’s Committee has been very determined, issuing many directives to mobilize funds and accelerate the disbursement of public investment capital. As of October 31, 2024, Phu Tho’s public investment capital mobilization for 2024 reached 5,242.567 billion VND, 156.1% of the target. The allocation of public investment funds for 2024 (under the management of local authorities) has reached 5,205.567 billion VND, 99.3% of the assigned capital. According to Article 67 of the Public Investment Law, the provincial People’s Committee has approved the adjustment and recovery of 106.069 billion VND from 45 projects to allocate to 34 projects under the public investment plan and the National Target Program.

As of October 30, 2024, the disbursement of public investment funds for the province reached 2,952 billion VND, 56.3% of the target, 75.7% of the target set by the Prime Minister. Phu Tho has consistently maintained its position among the provinces with a high disbursement rate (the national average is 52.3%). It is estimated that by the end of January 31, 2025, the disbursement volume in Phu Tho will reach 4,566.276 billion VND, 118.3% of the target set by the Prime Minister and 87.1% of the adjusted target.

Dinh Vu