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Prioritize allocation of public investment capital in 2021 for important national projects. Photo: Internet.

Capital arrangement must be consistent with disbursement schedule and capacity

MPI requires ministries, central and local agencies to clearly define goals and priorities in the 2021 public investment plan in accordance with the guidance specified in Directive No. 20 / CT-TTg dated July 29, 2019, on medium-term public investment planning for the 2021-2025 period and the ability to balance investment capital sources in 2021.

The arrangement of capital for the investment plan from the state budget must comply with the order of priority as prescribed.

Prioritize allocation of capital to key national projects, key infrastructure development programs and projects that have pervasive power, creating a driving force for socio-economic development, creating a breakthrough in attracting private sector capital, domestic and foreign people and ensure the harmonious development among localities and territories.

The amount of capital allocated for each project must be in line with the implementation progress and disbursement capacity in 2021.

For foreign capital, the arrangement of the plan must be consistent with the contents of the agreement and commitment to the donor; allocate sufficient funds for projects that conclude foreign loan agreements in 2021 and cannot afford to be extended.

The official dispatch states that the allocation of state budget capital in 2021 must ensure enough state budget capital in 2021 for transitional projects, completed in 2021 to promote investment efficiency.

The Ministry of Planning and Investment clearly stated that projects with over-time capital allocation in the 2016-2020 period transitioning to the 2021-2025 period must focus on allocating completed capital in 2021, minimizing reporting to the Prime Minister. The Prime Minister and the People's Council extend the capital allocation time for these projects.

Prioritize the allocation of capital to pay for the completed volume of projects already in the medium-term public investment plan for the 2016-2020 period, to transition to the 2021-2025 period.

Allocate capital for projects to be completed after 2021 according to the schedule but ensure that the project's capital allocation period is in accordance with the provisions of Clause 2, Article 52 of the Law on Public Investment (Group A projects must not exceed six years, group B does not exceed four years and group C does not exceed three years).

After allocating sufficient capital for the above-mentioned tasks, they will only allocate capital for new construction projects of inter-regional nature, urgent traffic, national defense, security, natural disaster prevention, and landslide handling; riverbank, coast, water security, climate change, projects under the national target program approved by the National Assembly for investment policy.

Many difficulties in balancing public investment capital in 2021

Regarding the public investment plan 2021, recently, at avideoconference on the preliminary review of the first six months of the year by the Ministry of Planning and Investment, the Director of the Department of Local and Territorial Economy Tran Duy Dong said, because 2021 is the year with many impacts of the Covid-19 pandemic, it is forecasted that the balancing of public investment capital in 2021 will be difficult, so it is suggested that localities choose suitable and effective projects, ensuring implementation progress according to regulations.

It is expected that in August 2020, the Ministry of Planning and Investment will implement mid-term planning conferences for 2021-2025 (integrated with the plan of 2021) with localities in three regions, if necessary; it will organize work with some large localities.

In order to accelerate the disbursement of the public investment in 2020, the Ministry of Planning and Investment proposed localities in the last months of the year to actively complete investment procedures, speed up the assignment of additional plans for 2016-2020 and plans for 2020, at the same time effectively implementing solutions and policies to increase disbursement of public investment capital in the last six months of the year.

Proactively review difficulties and problems of projects that have not yet disbursed or have a low disbursement rate, especially ODA projects, to actively make internal adjustments in the locality or propose capital transfer to other localities so that the Ministry of Planning and Investment can synthesize and submit to the competent authorities in August 2020.

Regarding the public proposal of slow disbursement units, Deputy Minister of Planning and Investment Tran Quoc Phuong said that this is also a solution to create pressure on low disbursement units.

However, in the future and in August 2020, under the request of the Prime Minister, the Ministry of Planning and Investment will report the first round of review as well as transferring the capital plan for low-disbursement units to the better disbursement units.

PM urges resolution to bottlenecks in public investment disbursement Prime Minister Nguyen Xuan Phuc on July 16 chaired an online meeting with leaders of all cities ...

This depends on the criteria, principles, especially the principle of reduction as well as the principle of addition to ensure efficient use of capital.