Bình Dương Province aims to achieve 100 per cent public investment disbursement by the end of 2024, with over 80 per cent allocated to key projects. Photo baoxaydung.com.vn

BÌNH DƯƠNG — Bình Dương Province is accelerating public investment disbursement for key projects to promote local socio-economic development.

The Government has set a public investment disbursement target of VNĐ15.278 trillion (nearly US$601 million) for Bình Dương Province this year, while the province People's Council has approved a disbursement budget of VNĐ22 trillion (nearly $866 million).

However, as of November 7 the total disbursed capital was only VNĐ7.293 trillion, equivalent to 47.7 per cent of the target and 34.7 per cent of the budget.

Currently, major projects in the province face disbursement challenges due to changes in public investment laws and delays in key projects, which have caused them to fall short of initial plans and investor commitments.

Bình Dương authorities set directives for public investment disbursement at the start of the year, but despite these efforts, the disbursement rate remains low and well below expectations.

To address this, the province is accelerating public investment disbursement in the remaining weeks of 2024.

The provincial authority has reviewed and reallocated funds from delayed to prioritised projects for immediate disbursement.

The provincial People's Committee has issued a decision to adjust this year’s public investment plan for 16 projects.

Of these, 11 projects had a total budget reduction of VNĐ562 billion, with the largest cut of VNĐ500 billion made for the land clearance project for Ring Road 4 from HCM City, stretching from the Thủ Biên Bridge to the Sài Gòn River.

Besides, five projects have been allocated an extra VNĐ562 billion, including upgrades to provincial road 746 and 748 and the dredging of the Cái Stream from the Thợ Ụt Bridge to the Đồng Nai River.

Dredging and reinforcing Cái Stream, a key Bình Dương socio-economic project, is part of the adjusted public investment plan. Photo nongnghiep.vn

Investors have been instructed to develop detailed monthly disbursement plans for each project and propose internal fund adjustments as needed.

The province has also arranged overtime support, strengthened monitoring and enforced accountability with respect to public investment disbursement. Furthermore, targets have been set for each department, with rewards planned for individuals and organisations that effectively complete public investment disbursement tasks.

In addition to these efforts, Bình Dương Province is also improving administrative procedures by enhancing coordination between departments, aiming to reduce the time required to process legal and administrative procedures related to public investment disbursement.

Bình Dương, often referred to as the industrial park capital of southern Việt Nam, ranks among the top 10 localities in economic growth, FDI attraction and urbanisation.

Its per capita income was VNĐ172.5 million in 2023.

In the first half of 2024, Bình Dương attracted $825 million in FDI from 4,300 projects across 65 countries and territories, totaling $40.6 billion, ranking third nationwide in foreign investment attraction.

The province is home to 29 industrial parks that span a combined area of more than 12,600ha.

These parks leased over 285,700sq.m of industrial land and 64,200sq.m of factories, and have an overall occupancy rate of 93.67 per cent in the same period.

The province has set a medium-term public investment plan for the 2026–30 period with a projected total budget of VNĐ105 trillion, including VNĐ32 trillion from the Government and VNĐ73 trillion from its own budget.

This plan focuses on transportation, healthcare, education, and public services infrastructure to address urgent needs, enhance the quality of people’s life and attract investment.

In 2025 Bình Dương plans to allocate VNĐ21.057 trillion to 195 key projects, focusing on transportation and public services. — VNS