Due to declining revenue, Tam Ky cuts and selects public investment projects.

The list of Ba Lau Hill monument projects will be added in 2025. In the photo: Ceremony to receive the Ba Lau Hill monument ranking certificate. Photo: TV

According to the resolution of the People's Council of Tam Ky City, the total public investment capital for the period 2021 - 2025 of the city is 3,192 billion VND. Of which, land use revenue accounts for 2,198 billion VND; central and provincial support sources are nearly 474 billion VND; concentrated budget is 83 billion VND; other capital sources (over-revenue, public asset arrangement...) are 200 billion VND; the source transferred from the period 2015 - 2020 is 236 billion VND.

By the end of 2024, reviewing the implementation results in the past 4 years and planning for implementation in 2025, Tam Ky City People's Committee said that the source transferred from the previous period is still guaranteed at 236 billion VND, the centralized budget source has increased slightly (increased by 5 billion VND). The remaining sources of revenue with a large proportion have decreased significantly, in which the largest decrease is the source of land use fees.

According to the analysis of the city's financial planning sector, the 5-year land use fee collection plan is 2,198 billion VND, but after 4 years, only more than half of the target with 1,295 billion VND has been collected. It is expected that in 2025, an additional 359 billion VND will be collected, so the entire period of 2021 - 2025, this revenue source will only reach 1,654 billion VND, 540 billion VND less than the plan.

The reason is seen as the land market has been gloomy recently, and for consecutive years the city's revenue has not met its target, forcing it to adjust its revenue plan.

In addition, the support from the Central and the province also tends to decrease with more than 141 billion VND. During this period, the budget revenue faces many pressures, the possibility of exceeding revenue is low, the sale of surplus public assets has not been implemented, so the capital plan of 200 billion VND but only collected a mere 8 billion VND. Therefore, the total investment capital mobilized for the entire period of 2021 - 2025 is expected to reach 2,287 billion VND, a decrease of more than 872 billion VND compared to the medium-term investment plan.

Faced with a large shortage of mobilized capital, to ensure the public investment plan is consistent with the actual situation, Tam Ky City has decided to adjust and supplement by cutting down many project lists that have not yet approved investment policies or investment projects; delaying progress and reducing capital plans for projects that have not yet implemented compensation and site clearance, have not yet started construction, and projects that have not fully utilized the allocated capital.

Accordingly, the capital source will be reduced by VND 1,146 billion, including cutting and removing 37 projects (VND 253 billion) from the 2021-2025 medium-term public investment portfolio; extending progress and reducing investment plans to match capital balance capacity (VND 858 billion); reducing reserve resources (VND 34 billion).

In addition, the city will also create opportunities for a number of projects to be supplemented and have their capital increased to speed up progress and meet local development requirements. Specifically, the city has decided to add 6 new project lists with urgent needs, 8 completed project lists for final settlement; at the same time, increase capital for groups of transitional projects, newly started projects, projects with good progress... with a total capital of 274 billion VND.

Source: https://baoquangnam.vn/sut-giam-nguon-thu-tam-ky-cat-giam-chon-loc-du-an-dau-tu-cong-3147164.html