Hanoi focuses resources on key projects

Illustrative image (Photo: VNA)

Hanoi has focused on pushing investors and contractors to increase resources and speed up the progress of major projects and works in the city in the first months of this year.

According to the capital’s People’s Committee, in the first three months of this year, about 81.8 trillion VND (3.48 billion USD) of development investment was disbursed, up 8.6 per cent year on year.

Of the total, 27.4 trillion VND was from the State budget, 48 trillion VND from non-State sector and the rest from foreign investors.

In terms of sectors, capital construction posted the highest amount of disbursed investment at 50.2 trillion VND, accounting for 61.4% of the total, representing a rise of 10 per cent year on year.

Meanwhile, 22.9 trillion VND, or 28 per cent, was spent on purchasing fixed assets for production, up 7.8% year on year.

In 2023, Hanoi has 238 public investment projects under construction, including 219 projects still underway from previous years and 19 newly-started projects, of which 96 projects are in the transport sector with a total investment of 7.52 trillion VND, accounting for 53.1% of the capital volume that the city is assigned to disburse during the year.

Major projects of the city in the 2021-2025 in the city have been making good progress in line with schedule, including the Hanoi Children’s Palace, which was launched in March 2021 with total investment of over 1.37 trillion VND.

The Ba La-Xuan Mai section of the National Highway No.6, launched in 2022 at a cost of 8.11 trillion VND, is expected to complete in 2027.

Meanwhile, the Vinh Tuy Bridge project, which was started in January 2022, has 43% of the work load completed, including 90% of the piles and an approach road.

Other important transport projects have also been implemented as scheduled. The city is focusing on speeding up ground clearance for the projects.

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