Promote the disbursement of public investment capital
According to information from the Ministry of Finance, by September 30, 2024, the estimated disbursement of public investment capital had only reached VND 320,566 billion, equal to 47.29% of the plan assigned by the Prime Minister, lower than the same period in 2023.
The Ministry of Planning and Investment assessed that this disbursement rate did not meet expectations. Of which, Ho Chi Minh City was assigned more than VND79,263 billion, but the disbursement rate only reached 21.29% of the plan. Meanwhile, Hanoi was assigned more than VND81,033 billion, but the disbursement rate only reached 38.88% of the plan.
It is worth mentioning that there are still 31 ministries, agencies and 23 localities with disbursement rates lower than the national average. Some localities are assigned large plans, but the low disbursement rate leads to a decrease in the overall disbursement rate of the whole country. The main reason for this situation is that policies are still entangled, slow to amend, the allocation of public investment capital plans in the years is delayed, and the allocation is many times. Many projects are stuck due to site clearance and lack of construction materials. Meanwhile, in localities, the mentality of cadres being hesitant and not daring to do it also hinders the disbursement progress.
Speaking to reporters of Lao Dong Newspaper, Associate Professor Dr. Nguyen Thuong Lang said that public investment disbursement plays an important role in the goal of promoting the country's economic growth. However, up to now, the disbursement rate has only reached over 47%, which is a relatively slow rate. According to schedule, by the end of the third quarter of 2024, public investment disbursement must reach between 60-80%.
“To get as close to the target as possible, in the fourth quarter of 2024, it is necessary to resolutely and quickly deploy and resolve issues related to institutions, policies and regulations related to land procedures, administrative procedures, and site clearance. In particular, localities also need to have a mechanism for general coordination and removal; removing bottlenecks in combined capital sources, ODA…” Associate Professor, Dr. Nguyen Thuong Lang commented.
Promote decentralization and reduce procedures
In order to remove obstacles, recently the Ministry of Planning and Investment has proactively drafted the Law on Public Investment (amended), including 29 new policies, and sent it to ministries, central and local agencies for comments.
At the 38th session, assessing the content of the amendment to the Law on Public Investment, Minister of Planning and Investment Nguyen Chi Dung said - The Law on Public Investment (amended) has fully and comprehensively specified 5 major policy groups, deeply demonstrating the spirit of breakthrough, reform, decentralization and delegation of power. Strengthening institutional improvement and inspection and supervision; ensuring clear people, clear work, clear responsibilities, clear results. Especially cutting down and simplifying administrative procedures, not allowing responsibility to be passed on, avoiding creating a "request-grant" mechanism...
The Law Project has received high appreciation from ministries, branches, localities, international organizations, and foreign donors, especially for fundamentally removing existing problems, limitations, obstacles, and bottlenecks arising in the implementation of the 2019 Law on Public Investment; regulations on decentralization, delegation of authority, ensuring clear identification of people, work, and responsibilities for easy inspection, supervision, etc.
The disbursement rate of public investment capital in the first 9 months did not meet expectations, causing great pressure on disbursement in the last months of the year for ministries, branches and localities. In response to this urgent need, Prime Minister Pham Minh Chinh has just issued Official Dispatch No. 104/CD-TTg dated October 8, 2024, urging to promote disbursement of public investment capital in the last months of 2024. The head of the Government requested that all levels and branches resolutely direct and remove difficulties and obstacles to strive to disburse public investment capital in 2024 to reach over 95% of the assigned plan.
