Vĩnh Tuy Bridge is one of the projects using Hà Nội's public investment. VNA/VNS Photo

HÀ NỘI – Hà Nội is expected to increase its public investment capital by more than VNĐ350 billion (US$13.8 million) in 2025.

In the 17th session of the 16th People's Council of Hà Nội earlier this week, Lê Anh Quân, director of the Hà Nội Department of Planning and Investment, proposed adjusting the city's 2024 public investment plan and the 2025 public investment orientation, along with updates and adjustments to the city's medium-term public investment plan for 2021-2025.

The city is expected to increase its public investment capital by VNĐ358.903 billion in 2025, compared to 2024.

Under this proposal, the Hà Nội People's Committee requested the City People's Council approve the adjustment of the 2024 public investment plan.

Specifically, regarding Official Development Assistance capital, VNĐ6.03 billion ($248,845) in ODA grants and VNĐ2.97 billion ($116,875) in ODA loans for the pilot urban railway project Nhổn - Hà Nội Station (Line 3.1) will be reallocated to supplement the sustainable urban transport enhancement project for line 3 of the Hà Nội Urban Railway.

Regarding the central government's domestic budget, the plan includes reallocating funds among units responsible for land clearance for component 1.1 of the Ring Road 4 construction project.

Specifically, VNĐ100 billion ($3.9 million) will be reduced from Thanh Oai District's allocation, VNĐ10 billion ($394,000) from Sóc Sơn District, and VNĐ110 ($4.33 billion) will be added to Hà Đông District.

For investment from the city's budget, the plan proposes reducing it by VNĐ2.51 trillion ($99.1 million) from various tasks and sources.

Meanwhile, the city's will increase allocation by VNĐ2,5 trillion for 202 tasks and projects which are considered feasible and with a good disbursement potential.

Following these adjustments, VNĐ6.18 trillion will be available for flexible payment mechanisms (land clearance, investment preparation, planning, project settlement, construction drawing design) and repayment to the city's development investment fund.

The 2025 public investment capital is projected to be VNĐ81,392.083 billion, an increase of VNĐ358.903 billion from 2024.

The goal of the 2025 public investment plan is to effectively use investment resources to contribute to achieving the socio-economic development goals set by the 17th Hà Nội Party Congress and the city's programmes and resolutions.

Investment will focus on key areas, ensuring balanced, rational and efficient investment across regions and sectors to drive growth and ensure social security and national defence.

Regarding updates and adjustments to the 2021-2025 medium-term public investment plan, the city's detailed allocation for tasks and projects totals VNĐ248 trillion, with VNĐ6.2 trillion yet to be allocated in detail.

Based on the feasibility assessment of medium-term public investment resources, the Hà Nội People's Committee has directed units to review the feasibility and disbursement potential of projects and propose adjustments to ensure alignment with medium-term public investment resources and the practical implementation capabilities of the projects. VNS