Public investment disbursement to reach nearly 34.5% of the plan by end of July

	Radical and long-term measures needed to boost public investment disbursement
	Gov’t determined to speed up public investment disbursement
	State Treasury: Administrative reform promotes public investment disbursement

There are many problems in the public investment disbursement. Photo: Internet.

36 ministries and 15 localities have disbursement rate below 30%

According to a report from the Ministry of Finance, it is expected that the disbursement rate of investment capital nationwide in the first seven months of the year will reach 34.47% of the plan assigned by the Prime Minister (over VND 542,105 billion), a slight year-on-year decrease (36.71%). Of this, disbursed domestic capital will reach over 36% and disbursed foreign capital 11.9%.

According to the Ministry of Finance, three ministries and 14 cities and provinces have recorded disbursement rates of over 40%. Some ministries and cities and provinces have with high disbursement rate, such as Central Committee of Vietnam Fatherland Front (71.55%), Development Bank (49.42%), Bank for Social Policies (48.3%); Tien Giang province (58.7%), Phu Tho province (56.4%) and Thai Binh province (55.1%).

In contrast, there are 36 ministries and 15 cities and provinces with disbursement rate below 30%, of which 26 ministries and two cities and provinces have disbursement rate below 15%.

The Ministry of Finance also reported on the implementation of a number of key projects. Specifically, the Project on land acquisition, compensation, support and resettlement at Long Thanh International Airport, according to Decision 1487/QD-TTg dated November 6, 2018 of the Prime Minister, has a total investment of VND22,856 billion and the capital allocated by 2021 is VND 22,855,035 billion. According to the State Treasury's report as of July 15, 2022, the project has been disbursed VND15,776,589 billion, reaching 69.03% of the assigned plan.

As for the East North-South Expressway Project in the 2017-2020 period, the State Treasury disbursed VND7,200 billion by the end of July 31, 2022, reaching 35% of the plan 2022 (VND20,526.645 billion). Currently, this project has completed the payment of compensation and support for affected households and organizations (reaching 100%), handed over 652,555km (99.95%). Along with that, all 11/11 component projects have started construction, of which 01 project has been completed (Cao Bo - Mai Son section).

The East North-South Expressway Project in the 2021-2025 period has been approved VND257 billion by the Prime Minister in the medium-term public investment plan for the 2021-2025 period to carry out the investment preparation work. Estimated disbursement by the end of July 31, 2022 is VND185 billion, equal to 72% of the plan.

Transfer capital from projects with slow disbursement to projects with good disbursement progress

Under the direction of the Government, ministries and sectors, the limitations in the public investment disbursement in the previous time have been overcome, including; scattered investment, lack of policies, disbursement not associated with strategic objectives, planning and plans; not associated with capital sources, not associated with the capital balance capital capacity; scattered, prolonged, inefficient investment, generating outstanding debts for capital construction; advance capital plan; and a lack of capital source for payment.

However, there are still many shortcomings and limitations which must be solved, such as: the quality and progress in investment preparation, project investment is not urgent, there is no medium and long-term vision; the progress of approving projects is still slow, disbursement has not met the requirements; capital for projects has been adjusted many times, affecting the implementation progress, quality of projects especially transportation projects.

To speed up the disbursement of public investment capital from the state budget, the Ministry of Finance proposes ministries, central and local agencies to immediately solve shortcomings and limitations.

Furthermore, the Ministry of Finance requested ministries, central and local to propose a plan to reduce central budget expenditures in the estimate until June 30, 2022 but have not yet been allocated (except special cases decided by the Prime Minister) to allocate to implementation of the Economic Recovery and Development Program.

Deputy PM urges acceleration of public investment disbursement Deputy Prime Minister Pham Binh Minh has asked ministries, sectors and localities to strictly follow the direction ...