Public investment capital in 2024 will be settled and disbursed until January 31, 2025 because many projects and works have not completed settlement procedures and documents are still pending at the State Treasury. Therefore, in January 2025, investors and contractors will focus on completing procedures according to regulations to disburse before the Lunar New Year holiday of At Ty 2025.

According to the report of the Department of Planning and Investment, as of December 31, 2024, the disbursement rate of public investment capital in the province reached 75.1% after 3 adjustments, equivalent to VND 9,063 billion, lower than the same period in 2023 (81.7%). This is the year with the lowest disbursement rate of public investment capital in the medium-term public investment plan for the period 2021-2025. Of the 3 capital sources, the provincial budget capital has the lowest disbursement rate, reaching 74% of the plan; the central budget capital disbursed reached 80.6% of the plan; the district budget disbursed reached 92% of the plan.

However, based on the report of the State Treasury, investors on the progress of project implementation and the documents in the process of payment procedures, it is expected that by January 31, 2025, the whole province will disburse about 90% of the adjusted plan, equivalent to VND 10,800 billion. Thus, during the period of January 2025, investors will have to make final payments and disburse over VND 1,700 billion for projects and works that have been implemented by December 31, 2024.

Of the VND 1,700 billion that needs to be disbursed in January 2025, it is expected that the central budget will have to disburse about VND 100 billion, mainly for the Riverside Road project connecting Ha Long - Hai Phong Expressway to Dong Trieu City, from Provincial Road 338 to Dong Trieu City (phase 1); the provincial budget (including local support) is expected to disburse about VND 950 billion; the district budget will self-balance and disburse about VND 657 billion, mainly in the localities: Ha Long, Cam Pha, Uong Bi, Dong Trieu, Quang Yen.

With the capital needing to be disbursed, the Provincial People's Committee directed investors to urgently complete the acceptance work and carry out procedures for payment of investment capital for projects according to regulations. As for the content of land clearance for projects, it will still be advanced in January 2025 if there is an approved plan. Therefore, the People's Committees of localities (Quang Yen, Uong Bi, Dong Trieu) will speed up the progress of making compensation plans for site clearance for projects, including: Renovation and upgrading of Provincial Road 345; Investment project to build Provincial Road 327, section from the intersection and renovation and upgrading of Provincial Road 338, section from the intersection of Ben Rung Bridge approach road to National Highway 18, as a basis for disbursing the entire capital plan in 2024.

The Provincial People's Committee also directed the Department of Finance and the Department of Finance - Planning of localities to speed up the settlement of completed projects; the Department of Finance shall supervise the settlement of investment capital of completed projects of localities; publicize the list of contractors and investors violating the settlement time as prescribed; propose competent authorities to handle violations against investors, state management agencies and related contractors; urge investors to speed up the recovery of advances, strive to recover all outstanding advances before 2022 and transfer to 2024.

Due to the Lunar New Year holiday on January 25, 2025, while the implementation and disbursement time for public investment capital in 2024 is only until January 31, 2025, the Provincial People's Committee has directed the Provincial State Treasury to urge investors to complete payment documents and send them to the treasury before January 20, 2025, as a basis for payment and disbursement of the 2024 capital plan; preside over and urge the progress of finalizing accounts of settled projects.

Currently, in addition to focusing on implementing the settlement of capital sources in 2024, investors and contractors are resolutely completing procedures to start new projects using capital sources in 2025 and medium-term capital sources in 2021-2025, especially for projects with identified driving forces and key points, such as: Project to renovate and upgrade provincial road 330, section from Ba Che town to provincial road 342; Project to renovate and upgrade provincial road 327 section from Dong Trieu city's main road to Nam Mau intersection (Uong Bi city); Project to invest in the construction of Quang Ninh Provincial General Hospital - facility 2 in Hong Ha ward, Ha Tu ward (Ha Long city); Project to expand Bai Chay hospital.

In addition, contractors are also taking advantage of favorable weather, focusing on equipment, machinery, techniques, and human resources to organize competitions and construction at construction sites, achieving the highest achievements to celebrate the Founding Day of the Communist Party of Vietnam on February 3 and the Party Congresses at all levels, term 2025-2030, contributing to accelerating the disbursement of public investment capital in 2025 right from the first months of the year.