Promoting State budget capital investment disbursement

In particular, it is necessary to allocate and assign the State budget investment capital plan from the beginning of the year to projects that have met all investment procedures, are eligible to disburse and direct investors to complete design approval procedures, cost estimates and bidding procedures.

Proactively formulating a disbursement plan on a monthly and quarterly basis, in which the first quarter would complete the recovery of the advance capital from the 2021 State budget investment plan, the second quarter would complete the disbursement of projects. The project is allowed to extend the State budget capital investment plan from 2020 to 2021.

The third quarter would disburse 80% of the State budget investment plan 2021 of the transition projects expected to be completed in 2021 and would complete investment procedures for new start-up projects expected to arrange investment plans 2021 and accumulated to the fourth quarter, it would strive to disburse 90% of the plan for 2021.

Based on the proposed medium-term plan for public investment in 2021-2025 announced by the Prime Minister, ministries, central agencies and localities should direct affiliated units to focus on selecting a list of projects that planned to deploy in 2021-2025, complete the procedures for thr formulation, appraisal and approval of investment policy and incorporate it into the medium-term public investment plan for the period of 2021-2025 and send it to the Ministry of Planning and Investment for reporting to the Government and submit to the National Assembly in the first session of the 15th National Assembly to consider.

It is necessary to allocate and assign the plan of investment capital to the state budget from the beginning of the plan year for projects that have met all investment procedures and are eligible for disbursement. Source: Internet.

At the same time, it will continue to review the legal framework and corridors on investment, budget, especially ODA funds in a synchronous and transparent manner, in which the management, disbursement and use of ODA funding would be reformed. It is necessary to determine the priority order for investment in ODA projects in association with ensuring reciprocal capital sources for these projects, the process of synthesising and allocating ODA capital associated with the reciprocal capital. Promoting investment projects as public-private partnerships to facilitate investment capital from the private sector, especially foreign investors for transport infrastructure projects.

Besides that, it will continue to promote innovation and implementation of digital transformation at all levels from national to local and corporations. In the immediate future, it is necessary to focus on implementing the programme of supporting digital transformation of firms in 2021-2025 for more than 800,000 Vietnamese enterprises, especially small and medium enterprises.

To speed up the construction of the National Innovation Center (NIC) in Hoa Lac Hi-Tech Park, then in HCM City and Da Nang, to "complete the connection circle"; gathering large domestic and foreign enterprises and technology groups, providing the best research facilities, workspaces, product testing and infrastructure conditions for research and development. Focusing on completing and implementing major projects on sharing economy, night economy, international financial centre in HCM City and Da Nang.