Barriers to public investment disbursement must be removed: Minister
Relevant agencies need to take drastic and concerted actions and quickly remove barriers and difficulties to speed up the disbursement of public investment, Minister of Planning and Investment Nguyen Chi Dung has said.
Speaking at an online conference held by the Government on August 21 in Hanoi, the minister said that recovering and promoting economic growth amid the COVID-19 pandemic is a crucial political task for 2020, in which accelerating the disbursement of public investment is key.
He called on ministries, agencies, and authorities in localities to focus on clearly identifying any shortcomings in directing, conducting, and managing public investment projects in order to promptly address any problems, especially those relating to investment procedures and site clearance.
The ministry has proposed the Ministry of Finance accelerate the application of information technology in managing expenditure and processing capital withdrawal applications at its offices and at the State Treasury, in ODA disbursement, and in concessional loans from foreign donors.
Reports from the Ministry of Finance show that cumulative disbursement of public investment reached over VND193 trillion in the first seven months of this year, equivalent to 40.98% of the plan, excluding capital left over from previous years.
The total is estimated to hit VND221.7 trillion (US$9.5 billion) by August 31, or 47% of the plan.
Five ministries and central agencies and 19 localities have reported disbursement rates of more than 60%.
But 29 ministries and central agencies and six localities have posted rates of less than 35%.
The minister attributed the slow disbursement of ODA capital partly to the impact of COVID-19, saying that most activities linked to foreign factors, from importing machinery and equipment to engaging foreign experts, workers, contractors, consultants, and supervisors, and project funding have been delayed.