Be proactive in medium-term public investment capital

From the achieved results, on the basis of clearly identifying the current situation and context, due to the influence of the Covid-19 pandemic, there are still complicated and unpredictable developments and to ensure the development goals of the province in the coming period, the Provincial People's Committee has reviewed the investment needs of investors and local People's Committees. Accordingly, in the period of 2021-2025, it is expected that more than 500 new projects will be started, with the need for investment capital from the provincial budget of about 126,000 billion VND.

Cua Luc Bridge 1 strives to be completed by the end of 2021.

In the period 2016-2020, the province's total medium-term public investment capital plan is over VND 50,000 billion (excluding district and commune budgets), of which the central budget is over VND 5,500 billion, The rest is capital from the provincial budget. From the fact that this capital has basically met the investment needs of projects, especially for dynamic and key projects, creating a synchronous technical infrastructure system, modernizing, promoting the development of regional linkages and capital sources to stimulate and maximize the capital resources of other economic sectors.

Through the review of investment needs in the 2021-2025 period, the province is expected to have more than 500 new projects commenced, with the need for investment capital from the provincial budget of about 126,000 billion VND. In which, there are 400 new construction projects in the period 2022-2025, with a capital demand of more than VND 100,000 billion.

However, based on the results of working with the Ministry of Finance on the expected amount of state budget revenue and expenditure, local budget expenditures, the rate of adjustment of revenues divided between the central budget and the local budget of Quang Ninh province in the period of 2022-2025 is expected to be 48/52 (ie 48% of central, 52% of local budget), a decrease of 13% compared to the 2016-2021 period.

Accordingly, the total capital for public investment in the period 2021-2025 of Quang Ninh province is only over 37,400 billion VND. This includes: Investment capital in the provincial budget balance is over VND 20,300 billion (concentrated sources of taxes and fees; recovery of capital advance to the provincial budget, which has been advanced to the Central Government, recovery of land development fund capital); land use levy is over 15,300 billion VND; the rest is a source of lottery and wage reform. Thus, compared with the need for public investment capital in the 2021-2025 period, after being reviewed by the Provincial People's Committee, there will be a huge shortfall. This is a difficult problem in the current context when Quang Ninh province is accelerating the technical infrastructure, ensuring sustainable development.

With limited capital, the Provincial People's Committee set requirements, the allocation principle to comply with the provisions of the Law on Public Investment, the Law on State Budget, Resolution No. 303/NQ-HDND dated December 9, 2020 of the Provincial People's Council on decentralization of development investment spending tasks; principles, criteria and norms for allocation of public investment capital from the local budget in the period of 2021-2025 in Quang Ninh province.

Van Tien Bridge on Van Don - Mong Cai Expressway is being actively implemented.

In particular, capital will be concentrated to pay off outstanding capital construction loans, invest in developing and perfecting a synchronous and modern infrastructure system, with a focus on strategic transport infrastructure; information technology, telecommunications; EZs, technology zones; seaport infrastructure and seaport services, ensuring water security, the safety of dams, responding to climate change, etc., in order to promote rapid and sustainable socio-economic development.