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| Party Central Committee Member, Deputy Secretary of the City Party Committee, and Chairman of the City People’s Committee Nguyen Khac Toan giving closing remarks |
The meeting was attended by Standing Committee Member of the City Party Committee and Permanent Vice Chairman of the City People’s Committee Hoang Hai Minh, along with leaders from relevant departments and agencies.
Creating momentum for growth
According to a report presented at the meeting by the Department of Finance, the 2026 - 2030 medium-term public investment plan was developed in close alignment with the city’s socio-economic development goals, key strategic programs, and the need to create breakthrough growth in the new development phase.
Under the plan, the city aims to achieve an average annual GRDP growth rate of 10% or higher and an average annual budget revenue growth rate of 14–15%. To achieve these goals, public investment resources will be prioritized for key sectors including: transportation infrastructure, urban development, economic and industrial zones, culture and tourism, healthcare, education, science and technology, agriculture, and environmental protection. At the same time, the city will ensure reasonable allocation of resources across local areas.
Particular priority will be given to projects with strong catalytic effects and broad economic impact, such as those capable of expanding development space, strengthening competitiveness, and accelerating economic growth.
Speaking at the meeting, Chairman Nguyen Khac Toan acknowledged and highly appreciated the responsibility shown by the Department of Finance and related agencies in preparing and refining the medium-term public investment plan.
Emphasizing the importance of public investment in the new development phase, Mr Nguyen Khac Toan stated that the plan should not merely be a list of projects or a mechanism for allocating capital, but should become a strategic tool to guide development, stimulate growth, and open up new opportunities for the city.
Review all projects and ensure priority principles in project selection
Chairman Nguyen Khac Toan assigned the Department of Finance to continue coordinating with departments, agencies, and local authorities to refine the report according to agreed directions, improve the quality of analysis and evaluation, ensuring predictive accuracy and feasibility rather than simply compiling data.
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Standing Committee Member of the City Party Committee and Permanent Vice Chairman of the City People’s Committee Hoang Hai Minh delivered remarks at the meeting |
Departments, project management boards, local authorities, and investors were instructed to comprehensively review all projects under their management and evaluate the necessity of investment, socio-economic effectiveness, ability to mobilize resources, readiness of procedures, and annual capital requirements.
Regarding investment scale, the Chairman approved the proposed total medium-term public investment budget for 2026 - 2030 but requested further clarification of the relationship between total public investment, overall social investment, and the goal of achieving GRDP growth above 10%, including a thorough analysis of the foundations, a full explanation of assumptions, and calculation methods.
Regarding the sector structure, and project selection, Chairman Nguyen Khac Toan emphasized that the city must clearly determine funding adequacy for each sector and identify capital needs tied to growth targets. The selection of projects must prioritize ongoing projects that need completion during the period; strategic growth-generating projects that expand development opportunities and competitiveness; social welfare, healthcare, education, environmental, defense, and security projects; and projects that have completed all required procedures
For new projects and those without completed investment procedures, Chairman Nguyen Khac Toan required all documentation and procedures to be finalized before July 15, 2026. Projects unable to demonstrate necessity, funding sources, investment effectiveness, or implementation readiness would not be included in the official capital allocation plan.
Regarding land-related revenue, he noted that this remains a major funding source within the city’s public investment structure and therefore requires careful assessment. Relevant agencies were instructed to develop funding balance scenarios, proactively identify risks related to land-use rights auctions, site clearance, and administrative procedures, and prepare contingency plans if revenue targets are not met.