On the afternoon of July 14, the Hanoi City People's Council held a group discussion on the socio-economic situation and budget estimates.
Speaking at the group discussion session, delegate Nguyen Anh Dung - Secretary of Dong Anh commune said that to achieve the growth target of 11% in the year, when the first 6 months of the year only reached 8.22%, great efforts and drastic solutions from the entire political system are needed.
The delegate raised the difficulties and obstacles of communes in ensuring revenue sources, especially revenue from land use right auctions. This directly affects the disbursement plan of public investment capital in the locality.
In addition, the prices of building materials announced by the city have not kept up with market fluctuations.
In parallel with that, labor shortages also occur due to many large projects of corporations attracting workers with higher salaries, causing public investment projects applying labor unit prices according to city norms to face difficulties.
Mr. Dung said that when implemented according to the Capital Law, the city will issue Capital bonds.
He proposed that the city study diversifying the bond term including milestones of 6 months, 1 year, 3 years, instead of only focusing on long terms such as 5 years or 10 years.
The delegate said that this will attract idle money from the people, instead of letting people hoard gold or silver. If there is only a too long term of 5-10 years, people will not necessarily be interested in investing.
Diversifying terms will help people easily use idle money to buy capital bonds.
If the term is too long, people may use that money to buy gold to hoard, not necessarily buy bonds. Then we can form different bond limits, multi-limits" - Mr. Dung said.
Regarding land funds and local support mechanisms, Mr. Dung cited an example in Dong Anh commune, the revenue target from land allocated is about 13,000 billion VND.
However, most of the land fund (about 247ha for multi-purpose projects and 600ha for counterpart projects BT, bridges, roads, Gia Binh airport) has been allocated to city tasks.
Faced with that reality, the delegate proposed that the city should have a counter-support mechanism for public investment plans of localities that have allocated large land funds for general tasks, helping these units have resources to disburse capital that has been allocated for the plan.
