Public investment disbursement a key task till year’s end, says Government

A report drafted by the Ministry of Planning and Investment shows roughly VND461 trillion worth of public investment has been disbursed so far this year, meeting 65.1% of the yearly plan compared to 58.33% recorded in the same period last year. Of the total value, VND123 trillion allocated to ministries, centrally run agencies and localities has been disbursed, meeting just 44.12% of the yearly plan.

The report points out ‘bottlenecks’ that need to be removed, including those related to institutions, land acquisition, and high prices of input materials.

Addressing the conference, Deputy Prime Minister Le Minh Khai stressed that public investment disbursement is one of the most important tasks not only for economic development but also for national security, defense, politics and society in general. According to the Deputy PM, public investment disbursement is of paramount importance in the context that two other growth drivers – consumption and exports - are still encountering difficulties.

“Given the current context, investment in general and public investment in particular is a driving force that needs to be promoted to surmount difficulties,” noted Khai.

For its importance, he said the Government and the Prime Minister personally pay special attention to public investment disbursement, by having issued eight resolutions, a decree, six telegrams and other documents on the issue since early this year. The Government has also established working groups to iron out the snag in localities.

“Although we have done relatively well compared to last year, many ministries, centrally-run agencies and localities have disbursement rates lower than the national average,” said the Deputy PM, adding that in the same legal environment, some agencies and localities have disbursed well, while others have recorded poor performances.

In his speech, Prime Minister Pham Minh Chinh requested the poor performers clarify causes and responsibilities of those involved, and drastically introduce solutions to improve the situation aimed at disbursing no less than 95% of the allocated capital for the whole year.

“Accelerating disbursement must go hand in hand with ensuring project quality, preventing negativity, corruption and waste,” he stressed.

He also suggested speeding up digital transformation, applying information technology and streamlining administrative procedures in public investment-related activities, while strictly dealing with any violations.