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Sunday, November 27, 2022

Quang Nam’s public investment disbursements lower than expected

By Nhan Tam

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DANANG – The central province of Quang Nam had disbursed over VND2.9 trillion of public investment capital in the year to September 30, or 46.9% of the annual plan, the local media reported today, October 5.

At a press briefing held in the first quarter of the year, the province said it aimed to realize 60% of the plan by the end of September and 100% at the end of the year. However, the result was not as good as expected.

The province might fail to achieve the full-year target as Covid-19 developments in early 2022 hindered the deployment of the program while building material and fuel prices surged, affecting the progress of infrastructure construction projects.

Delays in paperwork, compensation and site clearance have impeded the progress of projects, said Nguyen Hung, deputy director of the Department of Planning and Investment of Quang Nam Province, during a press briefing held on October 5.

Nguyen Quang Thu, the department’s director, said he would propose transferring the allocated funds from slow-moving projects to 53 projects that started in 2022 but have yet to complete procedures for funding.

The province’s 2022 total public investment plan stood at nearly VND7.3 trillion, including VND413 billion carried over from the public investment plan last year.

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