Tien Giang (VNA) – As of early October, the southern province of Tien Giang had disbursed almost 3.8 trillion VND (over 153 million USD) in public investment, accounting for 76.3% of this year's target – about 4.97 trillion VND, reported the provincial Department of Planning and Investment.

To improve the efficiency of public investment capital and boost local socioeconomic development, the province has mobilised the entire political system to ensure the progress of site clearance work and public investment projects associated with rapid disbursement.

Chairman of the Tien Giang provincial People's Committee Nguyen Van Vinh has directed departments, agencies and localities to focus on ensuring the compliance with regulations and standards when making, considering, and approving investment proposals and investment projects.Right at its regular meeting in mid-2023, the provincial People's Committee submitted for the provincial People's Council's approval the 2024 public investment plan and schedule as a basis to prepare for investment and site clearance this year.

Tien Giang has focused on key projects, avoided scattered investment, regularly inspected and monitored the progress and quality of projects, he said.

Besides, the provincial Department of Planning and Investment appraised the selection of contractors, shortened the project implementation time in accordance with the characteristics of bidding packages, and regularly inspected to transfer funding from projects with low progress to those that require additional capital for completion on schedule.

In addition, the province has paid attention to removing difficulties and obstacles facing investors during their project implementation.

Local authorities have regularly examined and urged contractors to speed up progress, ensuring that by the end of the year, all of planned public investment capital will be disbursed.For example, Sub-project No. 2 of the Cao Lanh - An Huu Expressway project has its first phase allocated 872 billion VND in 2024, and all of the funding was disbursed in the first nine months of this year.

It is a key national project in Tien Giang province that saw fast disbursement, compensation and site clearance, and received public consensus and support.

Tran Minh Trung, Director of the Tien Giang provincial management board for transport construction and investment projects, said that in 2024, Tien Giang plans to invest over 736 billion VND in four key transport projects.

The board had disbursed nearly 662 billion VND by the start of October, reaching nearly 90% of the total planned investment capital, he noted, voicing his belief that all of the finance for the key projects will be disbursed by the end of this year.

Thanks to that, the road serving industrial development in eastern areas and Phase 1 of the road running along the Tien River will be completed and put into use by the year's end.

Tien Giang’s public investment is expected to generate positive results in 2024, helping it remain among the best performers in public investment disbursement nationwide.

𝓡 This will also help it effectively remove difficulties, speed up projects to benefit the community, and create a driving force for socioeconomic development./.