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Optimizing Investment Opportunities in Kien Giang: A Vision for 2025

18 December, 2024

A corner of Vinh Thanh Van ward, Rach Gia city (Kien Giang). (Photo: Le Huy Hai/VNA)

Kien Giang province plans to invest more than VND 11 trillion in public investment in 2025, including over VND 8,738 billion from the local budget and over VND 2,324 billion from the central government.

The provincial leaders shared that based on successfully realizing the goals of the 5-year Resolution (2020-2025), the locality’s development investment needs, and the ability to mobilize and balance capital sources, Kien Giang expects to invest VND 3,100 billion more in 2025 than in 2024.

The province will invest in a focused and prioritized manner, allocating detailed plans for tasks and projects, and ensuring progress and disbursement in line with legal regulations. It aims to disburse 100% of the public investment capital for 2025.

Project owners are expected to expedite the completion of projects and put them into use promptly to maximize the efficiency of investments.

The province has requested that departments, branches, localities, and project owners seriously inspect and clarify the responsibilities of organizations and individuals who fail to complete the 2024 public investment disbursement. They should also identify solutions to overcome existing shortcomings and obstacles and review pending issues to accelerate the disbursement of the 2025 public investment plan.

Heads of agencies, units, localities, and project owners are tasked with formulating concrete plans and solutions for public investment in 2025, strengthening discipline, and strictly complying with regulations on public investment management, bidding, construction, and settlement of capital.

The 3/2 Road extension, passing through Rach Gia city and Chau Thanh district, is officially opened to traffic. (Photo: Le Sen/VNA)

People’s Committees of districts and cities are requested to proactively approve the list of projects and allocate capital accordingly as soon as they receive the provincial capital allocation. They should also actively coordinate with relevant agencies in compensation, site clearance, and resettlement to effectively implement projects, especially key projects.

Project owners must have detailed plans for each project, with specific assignments for leaders and officers to ensure progress and compliance with regulations. They should also focus on improving the quality of procedures in investment preparation, ending the practice of appointing consulting units with weak capacity, and enhancing phase-by-phase acceptance to avoid concentrating payment volume at the end of the year.

According to the Kien Giang Department of Planning and Investment, after adjustment, the province was assigned to implement public investment capital of over VND 7,959 billion in 2024, with an estimated disbursement rate of over 95% as of January 31, 2025.

As of January 31, 2025, the province disbursed an estimated 96.1% of the capital for national target programs. The disbursement rate of capital with extended implementation time reached 69.33% as of December 31, 2024, while the disbursement rate of capital for projects under the Government’s program for socio-economic recovery and development was estimated at 88.79%, with a cumulative rate of 95.72% of the total capital of the program.

Farmers use a flying seeder to sow rice in the Thu Dong 2024 crop in Tan Hiep district, Kien Giang. (Photo: Le Huy Hai/VNA)

However, in 2024, Kien Giang province faced numerous difficulties, shortcomings, and limitations in implementing public investment, which affected capital disbursement and the operation of projects.

Many large and key projects, mainly in transportation, have been delayed due to unresolved site clearance and compensation issues, prolonged procedures, and complaints and disputes, leading to time extensions and capital allocation beyond the regulated period.

Several key projects that were newly started this year have not completed the selection of construction contractors, affecting the overall disbursement progress. Key projects using central government capital have also been slow, with low disbursement rates.

In the first months of the year, many project owners delayed approving plans for selecting contractors for projects due to the need to wait for decrees and circulars guiding the new Law on Bidding, which took effect in 2023.

Additionally, the construction of several large and express roads in the Mekong Delta region has increased the demand for sand, leading to a shortage and higher prices, which has impacted the progress of construction projects.

Furthermore, the revenue from land use fees, which was included in the 2024 public investment plan approved by the Provincial People’s Council, was much higher than expected. As a result, some newly added projects in the medium-term public investment plan have not completed the investment procedures, and there has been no completed volume for acceptance and payment.

Some units lacked capacity and worked slowly, but the project owners did not terminate the contracts…

By Le Huy Hai