Adequate Budgetary Allocation and Infrastructural Projects Implementation in Shenzhen City Projects, China
DOI:
https://doi.org/10.53819/81018102t5194Abstract
Adequate budgetary allocation plays a crucial role in facilitating the successful implementation of infrastructural projects. It ensures that sufficient funds are allocated to meet the various needs of the projects, including construction, materials, and labor costs. With adequate budgetary allocation, projects can be completed on time and within the planned scope, minimizing delays and cost overruns. It also allows for the incorporation of high-quality materials and technologies, ensuring the longevity and functionality of the infrastructure. Furthermore, adequate budgetary allocation enables governments and organizations to prioritize and invest in critical sectors such as transportation, water supply, energy, and communication, thereby fostering economic growth and improving the quality of life for communities. The study utilized the descriptive research design. The target population was 25 projects in Shenzhen City, China. The study did sampling of 20 respondents that were selected from the target population of 25 projects in Shenzhen City, China. Questionnaires were used to collect the data. The study concluded that adequate budgetary allocation has allowed Shenzhen to undertake numerous large-scale projects, including the development of a modern transportation network. The infrastructural projects have significantly improved the quality of life for Shenzhen's residents. Adequate budgetary allocation has allowed for the construction of residential areas with modern amenities, parks, and recreational facilities. The implementation of infrastructural projects has attracted investment and stimulated economic growth in Shenzhen. The study recommended that to ensure efficient implementation and management of infrastructural projects, Shenzhen should actively foster public-private partnerships (PPPs). While investing in infrastructure, Shenzhen should prioritize inclusivity and equity. This involves considering the needs of all citizens, including vulnerable groups and marginalized communities, in the planning and implementation of infrastructural projects.
Keywords: Budgetary Allocation, Infrastructural Projects Implementation, China
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