Business Business

16/09/2021 - 17:00

Hue City: Investment sustaining growth

The aggregate social investment capital in the first 8 months of the year rose by more than 8.1% year on year, which is a noteworthy token during the current pandemic.

The province strengthens investment promotion in the key economic and industrial zones such as Chan May - Lang Co. Photo: Nguyen Phong

Enterprise investment capital rising

The pandemic is one of the reasons why the disbursement rate according to the public investment plan in the first 7 months of the year remained low, reaching only 33% of the plan. Notably, the capital managed by the provincial budget was disbursed at 27% (the local capital 35%, central capital 22%, ODA 11%); the capital provided by the district and commune level was disbursed at 50%.

The state budget investment capital focuses mainly on the transitional projects, the state budget capital of which continues to invest in the key national projects such as Hue Central Hospital’s Center for Obstetrics and Gynecology, A So and A Luoi Defense Economic Zones, Hue Division 41’s Rehabilitation Center…The national key construction projects in BT and BOT forms such as La Son - Tuy Loan; Hai Van tunnel phase II… are also accelerated.

For all the difficulties, in the first 7 months of the year, the total investment capital of the whole society reached 14,628 billion, an increase of more than 8% year on year. Notably, the investment capital of enterprises tended to increase with 2,240 billion dong, up over 33%. The investment capital of the people reached 1,920 billion dong, up over 26%. The credit capital reached 5,559 billion dong, up nearly 4%. The foreign investment capital totaled 1,370 billion dong, up 2.6 times.

Public investment provides impetus for growth

The enterprise capital invested mainly in the projects urgently finalized to be put into operation such as the construction projects for Premium Silica, Sand Processing Plant (Hue Premium Silica), Thuong Nhat Hydroelectric Power Plant.... Besides, a number of projects in the field of textile and garment, mineral exploitation, and the investment projects in industrial parks were also  implemented on schedule.

Key projects accelerated

According to the Department of Planning and Investment (MPI), accelerating the disbursement of public investment capital for projects with capital allocated for 2021 is one of the key tasks in the last months of the year.

For the transitional projects, it is necessary to strive for 100% of the plan disbursed by December 15, 2021. For new construction projects, there is a need to strive for over 60% of the plan disbursed by September 30, 2021, and 100% of the 2021 capital plan disbursed by December 31, 2021.

In order to achieve the above objective, the transfer of public investment capital for other works or projects if investors do not carry out site clearance well or do not ensure the disbursement progress is seen as a fundamental solution.

Priority will be given to investment in infrastructure projects

In addition, the province also focuses resources on continuing to implement the key programs and projects: the project for conservation, restoration and embellishment of Hue Imperial City system; the project for water environment improvement in Hue City, Cho Mai - Tan My road, Phu My - Thuan An road... The focus is on starting the new projects: the road west of Tam Giang - Cau Hai Lagoon (Phu My - Phu Da section); the road connecting the non-tariff area with Chan May Port... The investment preparation work to start the coastal route through Thua Thien Hue Province and the bridge over Thuan An estuary needs completion.

The procedures for investment preparation are developed for Nguyen Hoang Bridge crossing the Huong River and Belt Road 3, To Huu Street extending to Phu Bai Airport, Chan May Port breakwater in phase 2. The technical infrastructure of Hue University resettlement area... is also developed to implement the public investment projects for the period 2021-2025.

For the off-budget projects, the Department of Planning and Investment’s representative affirmed that the province will continue to support, supervise and accelerate the implementation of projects whose investment policies are approved, continue to support the investors with projects starting in 2021. Simultaneously, the progress of projects will be stepped up to officially come into operation within the year in order to provide new impetus for growth amid the current pandemic.

The Department of Planning and Investment also supports and accelerates the process of making the decisions on investment policies and selecting investors for a number of projects such as High-Class Housing, Commerce and Service Quarter at Vo Nguyen Giap-To Huu roundabout; Trade and Service Center at Zone A - An Van Duong New Urban Area; Hue International Education City at Zone E - An Van Duong New Urban Area; Complex of housing, business combined with center for commerce, tourism, service and entertainment in Thua Thien Hue Province (Tourist Market)…

Simultaneously, the investment promotion is strengthened according to the list of projects in the economic zones and industrial zones, especially the investment projects in construction and business of infrastructure at industrial zones and industrial zones, providing impetus for investment attraction.

Story and photos: Hoang Loan