Reviewing decisions and adjusting investment policies for many projects in Hai Duong

Comrade Le Hong Dien, Provincial Party Committee member, Director of Hai Duong Department of Planning and Investment, read the submissions requesting decisions on investment policies and adjustments to investment policies for many public investment projects.

Specifically, the People's Committee of Hai Duong province proposed the Provincial People's Council to decide on the investment policy of the Project to renovate and upgrade the water intake culvert, irrigation canal, and Chua Khu pumping station head area (Thanh Mien) to renovate and upgrade a number of construction items in the Chua Khu pumping station head area. The total estimated investment is nearly 9 billion VND from the provincial budget in the medium-term public investment plan for the period 2021-2025. The project implementation period is in the period 2022-2023.

The People's Committee of Hai Duong province also proposed to adjust the investment policy of 2 projects. Firstly, the Investment Project to build a 3-storey classroom building at Tue Tinh High School (Cam Giang) was proposed to increase the total investment by more than 3 billion VND. In Resolution No. 59/NQ-HDND dated December 8, 2021, the project was approved to allocate nearly 15 billion VND. Currently, the Hai Duong Provincial Construction Investment Project Management Board is preparing a dossier to submit to the Provincial People's Committee for approval of the project. The reason for adjusting the investment policy is that the current price of raw materials and labor unit prices have increased compared to the time of preparing the project investment proposal report. The investment capital for the additional funding from the provincial budget in the medium-term public investment plan for the period 2021-2025.

The second project proposed by the Hai Duong Provincial People's Committee to adjust the investment policy is the Project to Improve and Upgrade Local Dike Works in the 2021-2025 period. The reason for the adjustment is that the scale and preliminary design of the project items have changed compared to the approved investment policy. The Provincial People's Committee proposed not to implement 4 items and adjust the investment scale of the item to build a retaining wall and reinforce the right dike surface of Kinh Thay in Hiep An ward (Kinh Mon) to connect with the reinforced concrete dike section of An Luu pumping station. The project implementation period was approved for the 2021-2025 period and according to the adjusted capital plan to the 2023-2025 period and according to the capital plan.

The total investment of the project after adjustment is expected to be 150 billion VND, unchanged from before, but the allocation for each item has changed. Site clearance costs increased from 1.5 billion VND to 8.4 billion VND, contingency costs increased from 13.6 billion VND to 16.6 billion VND, construction costs decreased from 120.5 billion VND to 111.9 billion VND...

The People's Committee of Hai Duong province has also submitted to the Provincial People's Council for consideration and decision on the investment policy for the Project to renovate and repair the Hai Duong Newspaper headquarters. The investment objective is to ensure the facilities meet the working needs and ensure fire prevention and fighting safety for the Hai Duong Newspaper agency. The total investment of the project is expected to be more than 14.3 billion VND from the provincial budget in the medium-term public investment plan for the period 2021 - 2025. The project implementation period is in the period 2023-2024 and according to the annual capital allocation plan.

After reviewing the submissions, the Economic - Budget Committee of the Hai Duong Provincial People's Council said that the list of documents of each project submitted by the Provincial People's Committee ensured compliance with regulations, the appraisal document determined the necessity of investing in the projects and received comments from relevant departments and branches. Currently, the price of raw materials and labor unit prices have increased compared to the time of preparing the investment proposal report in 2021 and exceeded the project's reserve value (currently arranged at 5%). Therefore, the Provincial People's Council needs to decide on the investment policy and adjust the investment policy to ensure the basis for completing the project according to the policy decided by the Provincial People's Council.

SNOW WIND