8,150 billion vnd disbursed under the capital plan in January 2017

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Illustrative photo.

As reported by the Ministry of Finance, to 31st January 2017, the State Treasury carried out 4 auctions of Government bonds through the Hanoi Stock Exchange to mobilize 10,032.3 billion vnd.

In addition, in January 2017, the State Treasury signed 2 loan agreements worth $US 179.7 million with Japan for the economic management competitiveness credit program (EMCC) and the Support Program to Respond to Climate Change in Vietnam (SPRCC).

Accordingly, the disbursement of ODA capital and preferential loans was $US 7.9 million, equivalent to approximately 176.4 billion vnd. Specifically, Government foreign loans were $US 3 million, equivalent to 68.4 billion vnd and the loan allocated to localities was $US 4.9 million, equivalent to 108 billion vnd.

Regarding the disbursement of the capital plan for 2016, to 31st January 2017, the Ministry of Finance said that the capital disbursed through the State Treasury system was 304,219.4 billion vnd; equivalent to 89.8% of the capital plan for 2016 assigned by the Government, lower than the rate compared to the same period in 2015.

In particular, the disbursement of funds allocated by the Prime Minister reached 257,586.6 billion vnd, equivalent to 90.2% of the plan; and the disbursement of other sources reached 46,632.8 billion vnd, equivalent to 87.7% of the plan. In the funds disbursed under the allocation of the Prime Minister, the disbursement of capital construction investment was 221,718.9 billion vnd, equivalent to 95.5% of the plan; the disbursement of Government bonds was 30,074.2 billion vnd, equivalent to 67.2% of the plan; and the disbursement of funds in the national program was 5,793.5 billion vnd, equivalent to 67.9% of the plan.

Regarding the capital plan for 2017, to 31st January 2017, the accumulated investment capital disbursed through the State Treasury system was estimated at 8,150 billion vnd, equivalent to 2.6% of the capital plan in 2017 assigned by the Government. Specifically, the capital disbursed by the Government was 5,700 billion vnd, equivalent to 2.2% of the plan; and other funds disbursed reached 2,450 billion vnd, equivalent to 5.1% of the plan of the State Treasury.

Earlier, in 2016, although the work of raising capital achieved good results, the disbursement of capital faced many difficulties.

In order to tackle the above problems, in July 2016, the Prime Minister issued Resolution 60/NQ-CP on key tasks and measures to accelerate the implementation and disbursement of public investment plans in 2016.

Since that time, these solutions accelerating the implementation and disbursement of public investment plans in 2016 such as a publicity of disbursement data of investors; coordination among local authorities to find out the cause of the delay in projects with low disbursement rates, and discussions with investors to tackle obstacles, have been implemented decisively with positive results at the end of 2016.

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Based on experience in 2016, the above solutions have been implemented strictly by the Ministry of Finance from the beginning of 2017 to promote the disbursement rate.