Disbursement rate is still low, many units have not completed
On December 3, 2024, at the headquarters of the Ministry of Finance, a conference between the Ministry of Finance and ministries and branches on the disbursement of foreign capital public investment capital took place.
According to data from the TABMIS system and reports from central ministries and branches, by the end of November 2024, the disbursement rate of foreign-funded public investment capital only reached 39.06% of the adjusted plan. Of which, two ministries with a disbursement rate of over 50% are the Ministry of Transport and the Ministry of Natural Resources and Environment. However, four ministries and branches including the Ministry of Education and Training, the Ministry of Construction, the Ministry of Labor, War Invalids and Social Affairs, and the Ministry of Health have not yet disbursed the assigned capital plan.
This poses a major challenge in achieving the target of disbursing at least 95% of the capital plan as set by the Government.
Main reasons for slow disbursement
At the Conference, delegates discussed and pointed out the causes leading to slow disbursement, including:
Delayed site clearance: Many projects face difficulties in compensation and land acquisition.
Prolonged bidding and engineering design: The bidding process is not synchronized, causing delays.
Adjusting investment policies many times: Many projects have to change the content of loan agreements, prolonging the approval time.
Slow response from sponsors: Processing of bidding documents and amendments to loan agreements is slow from foreign partners.
The conference agreed on key solutions including:
Strengthen progress monitoring: Accelerate the implementation of projects that have completed investment preparation work.
Urgently handle problems: Focus on removing difficulties in site clearance, bidding and project adjustment.
Timely reporting to superiors: For issues beyond their authority, ministries and branches need to promptly synthesize and report to the Government.
Determined to complete the 2024 goal
2024 is the fourth year of the 2021-2025 Socio-Economic Development Plan, an important period to create a strong shift in implementing development goals. Disbursement of public investment not only promotes domestic production but also contributes to infrastructure development, removing bottlenecks and promoting sustainable economic growth.
The Ministry of Finance and other ministries and branches are committed to implementing the proposed solutions, striving to achieve a disbursement rate of at least 95% of the 2024 capital plan as set out in Resolution 01/NQ-CP.
