Vehicles moving on Vĩnh Tuy Bridge. Hà Nội will carry out inspections and evaluations of 49 investment projects in 2024. — VNA/VNS Photo

HÀ NỘI — The capital city is gearing up to scrutinise and assess 49 investment projects in 2024 to boost the efficiency of investment in various programmes to secure Hà Nội's socio-economic development goals and strategies.

This includes a mix of 30 public investment projects and 19 others funded outside of the state budget.

Through this comprehensive review process, entrenched issues and roadblocks will be unearthed, paving the way for swift solutions and recommendations to propel implementation forward.

Vice Chairman of the Hà Nội People's Committee Hà Minh Hải underscored the need for these assessments to focus on critical areas, aligning with the practical situation and strictly adhering to the legal regulations.

Leading the charge in organising these evaluations for the 49 new projects is the Hà Nội Department of Planning and Investment.

Among these, there are 15 transportation projects, nine agricultural and rural development initiatives, five cultural and social projects and one resettlement project.

In addition, there are 19 projects financed independently, including five commercial service and hotel projects, seven technical infrastructure developments, three education and training initiatives and four urban and housing projects.

The city's plan to improve public schools, upgrade healthcare facilities and preserve historical sites in 18 districts and towns over the 2022-25 period involves budget-funded projects.

To ensure their success, the city suggests inspecting one to two projects per supported area in each sector under consideration.

In 2023, the city's disbursement results showed significant positive signs, with the highest disbursement value ever recorded, the Hà Nội vice chairman said.

As of January 15, 2024, the total disbursement for the city soared to VNĐ50.69 trillion, surpassing expectations by achieving 88.5 per cent of the city's plan and outpacing the Prime Minister's early-year allocation by an impressive 108 per cent.

Despite strides made, the city People's Committee acknowledges persistent hurdles in various projects, notably in land clearance.

Some ODA-funded projects grapple with prolonged procedures due to loan extensions and contractor limitations.

Challenges in heritage projects persist, with a sluggish completion rate for transferred procedures.

Furthermore, low land revenue in certain areas strains district-level budget balancing.

In 2024, Prime Minister Phạm Minh Chính has assigned a substantial public investment plan for Hà Nội, totalling VNĐ81.033 trillion, a significant increase from the previous year.

In which, VNĐ36.1 trillion is expected to be sourced from land use revenue, signalling a 2.24-fold surge compared to the 2023 allocation.

It is forecast that 2024 will still pose many challenges and difficulties, particularly in disbursement rates, capital mobilisation, and project transfer issues.

The Hà Nội People's Committee urges proactive measures from relevant departments, localities, and units to ensure the efficient utilisation of allocated funds from the beginning of the year. — VNS