Unlocking Public Investment: Thanh Hoa’s $14.2 Trillion Infrastructure Vision

Full Disbursement of Capital in 2025

In 2025, Thanh Hoa province allocated and planned to disburse VND 14,218.247 billion in public investment capital, VND 909.442 billion higher than the total amount of capital assigned by the Prime Minister. Building on its consistent track record of being among the top-performing provinces in the country, the province has set a target to disburse 100% of this capital.

Mr. Le Ngoc Nam, Director of the Management Board of Thanh Hoa City Construction Investment Projects, shared that the People’s Committee of the city is implementing several key projects in transportation and civil engineering. Notable examples include: the project to expand Le Loi Boulevard; the project to construct a Children’s Culture Palace and a City Sports Center; the Hoi An Park project; and the project to build a bridge over the North-South railway.

” Currently, the focus is on site clearance to ensure the progress and disbursement volume of the projects “, emphasized Mr. Nam.

Similarly, Mr. Le Ba Hung, Director of the Management Board of Thanh Hoa Province Traffic Works Construction Investment Projects, shared that the investment capital assigned to his management board for 2025 is VND 171 billion, including VND 141 billion for the Cam Van Bridge project and VND 30 billion for completed volume payments for other projects.

” While site clearance has encountered many obstacles, with the direction of the Provincial Party Committee and the People’s Committee, along with the coordination of departments, branches, localities, and people with projects passing through, this work is being expedited to ensure the progress of the project “, affirmed Mr. Hung.

The province of Thanh Hoa is implementing the medium-term public investment capital disbursement plan for the period of 2021-2025 in a context where the world and the region are experiencing rapid, complex, and unpredictable changes due to new factors beyond forecasts. These include the COVID-19 pandemic that emerged in late 2020 and intensified in 2021-2022; soaring prices of raw materials, fuel, and construction materials; abnormal weather events; and climate change.

In this context, the Provincial Party Committee, the Provincial People’s Council, and the Provincial People’s Committee have issued more than 122 directives and conducted numerous conferences and thematic meetings on public investment capital disbursement. Task forces led by provincial leaders have also been established to directly address difficulties and obstacles.

With the engagement of the entire political system, the high determination, and the great efforts of investors and related units, the implementation of the medium-term public investment plan for the period of 2021-2025 in Thanh Hoa province has consistently ranked among the highest disbursement rates in the country.

5 Key Tasks

To achieve the target of 100% disbursement of public investment capital for 2025 before December 31, Thanh Hoa province requires all levels, sectors, and investors to enhance their sense of responsibility and focus on more forceful, timely, and effective leadership in performing the assigned tasks and implementing solutions.

Firstly, it is essential to recognize that accelerating public investment capital disbursement is one of the key political tasks, with accountability resting on the leaders of investors and localities.

Consequently, more forceful, suitable, and flexible solutions are required, along with clear identification of responsibilities and timelines, and a focus on key tasks and efficiency. It is imperative to promptly address difficulties, obstacles, and bottlenecks to accelerate the progress and fully disburse the capital plan for 2025 as prescribed, especially for the province’s key public investment projects.

The task forces must increase the frequency of on-site inspections and supervision of all projects.

The province also directs relevant units to proactively and flexibly adjust the capital plans of projects. Particularly, the plans of projects with slow progress should be resolutely shifted to projects with faster implementation.

Another task is to promote administrative procedure reform and streamline processes to facilitate the smooth implementation of projects.

Lastly, it is crucial to strengthen discipline in public investment capital disbursement and strictly handle investors, project management boards, related units, organizations, and individuals who intentionally cause difficulties or hinder the progress. Notably, accelerating the disbursement of public investment capital must go hand in hand with ensuring the quality of works and projects.