Chairman Nguyen Van Duoc of the municipal People's Committee convened a working session with the Ho Chi Minh City Department of Finance. The session addressed a comprehensive agenda, encompassing the current status of delayed and suspended construction projects, the underutilization of public infrastructure, and strategies for enhancing the investment climate. Deliberations also focused on the mobilization of investment capital to achieve the city's targeted double-digit growth and the implementation of measures to ensure a public investment disbursement rate exceeding 95 percent.
During the meeting, Director Le Thi Huynh Mai of the Ho Chi Minh City Department of Finance presented a report on the implementation of Plan 7307 to address backlogged, stalled, and under-performing projects and ineffectively utilized public assets, including headquarters and offices. The plan encompasses a total of 571 works and projects.
The Department of Finance, in collaboration with relevant departments and agencies, has conducted a preliminary assessment, categorizing the projects into five distinct groups for review such as 265 slow-moving projects, 18 public assets, 31 state-owned enterprise projects, 108 projects/works that are stopped or temporarily halted due to inspection, investigation, prosecution, or trial and 149 land plots that are not being used or are slow to be utilized.
Of the 571 projects, 541 are under the city's authority; if the group of public investment projects alone is resolved, it will help disburse at least VND20,000 billion, contributing to the city's economic growth.
The resolution of 12 projects under the central government's authority could unlock over 47,000 square meters of land in Ho Chi Minh City, generating an estimated funds of more than VND90,000 billion for the local economy.
In relation to strategies for mobilizing social investment capital to achieve the city's ambitious double-digit growth target, the Director of the Ho Chi Minh City Department of Finance highlighted the importance of proactively establishing investment attraction procedures for 11 designated areas anticipated to adopt the Transit-Oriented Development (TOD) model, encompassing a total area of 1,107 hectares.
Along with that, relevant agencies will promote major projects such as the Vietnam International Financial Center, the infrastructure development project, the coastal road project research and the urban railway project.
Concerning the allocation of public investment funds, Ms. Le Thi Huynh Mai reported that the southern largest city has received over VND84,000 billion this year. However, as of March 14, only 3 percent of this amount, which is more than VND2,500 billion, has been disbursed. To accelerate the disbursement process, the Department of Finance has recommended that the municipal People's Committee instruct various departments and agencies to prioritize the management of project procedures, including four BOT (build-operate-transfer) projects in accordance with Resolution 98 of the National Assembly.
At the meeting, Chairman Nguyen Van Duoc of the Ho Chi Minh City People's Committee acknowledged the need to directly address the shortcomings in projects and works, as well as the fear and apprehension among officials.
The Chairman of the Ho Chi Minh City People's Committee stated that the city must shift its focus from public administration to service administration, with people and businesses as the driving force for development.
Chairman Nguyen Van Duoc prioritized the resolution of the identified 571 backlogged projects and works, emphasizing the necessity of addressing these impediments to facilitate the release of resources for societal benefit. He further assumed direct leadership of the team tasked with the resolution process, providing strategic orientation and direction for the implementation of remedial measures.
Acknowledging the significant challenge of achieving double-digit growth within the existing administrative framework, Chairman Nguyen Van Duoc directed the Ho Chi Minh City Department of Finance to prioritize the enhancement of the investment environment. This directive emphasized the critical importance of reforming administrative procedures, fostering positive attitudes, and improving public service ethics as key drivers for attracting investment and stimulating economic growth.
Following General Secretary To Lam's directive, Chairman Nguyen Van Duoc stressed the need to streamline investment acceptance procedures this March by reducing dossier components, costs, and processing time by 30 percent. He believes this would significantly improve investor satisfaction and encourage reinvestment in the city.
The Chairman underscored the strategic importance of investment attraction as a key priority for the city's leadership. He highlighted the recent influx of significant investors seeking opportunities within Ho Chi Minh City, necessitating a proactive and efficient approach to investment facilitation. Consequently, he directed relevant departments, particularly the Ho Chi Minh City Department of Finance, to expedite and streamline administrative procedures for important investors.
While adhering to regulatory frameworks, such as the 15-day application processing guideline, the Chairman advocated for a flexible approach, emphasizing that even marginal reductions in processing time could significantly enhance the city's attractiveness to potential investors.
