Strong push for public investment starting in January, avoiding the “easy beginning, tough ending” situation

According to Deputy Minister of Ministry of Planning and Investment Do Thanh Trung, public investment is not just a law but rather a series of interconnected processes involving many legal regulations, from land to environment, construction, forest management, and budget... These key points, obstacles, and difficulties are the Government's focus in resolving and achieving encouraging results right from the beginning of the year.

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Regarding public investment capital, the Prime Minister has directed the implementation of allocation and disbursement of public investment capital in the early days and months of 2024, avoiding the situation of “relaxed at the beginning of the year, difficult at the end of the year.” At the Government’s regular press conference in January 2024, Deputy Minister of Planning and Investment Do Thanh Trung shared the situation of allocation and disbursement of capital as well as breakthrough solutions to promote faster disbursement, complete the set plans and objectives.

Deputy Minister of Planning and Investment Do Thanh Trung: We have complete confidence and foundation that in 2024, we will be able to effectively disburse public investment capital – Photo: VGP/Nhat Bac

Mr. Trung said that public investment is one of the contents that the Government and the Prime Minister have always had resolute and careful directions in recent times. From the beginning of the term, the Government has identified that public investment is one of the areas that both support and promote economic development as well as help to overcome difficulties and obstacles in development.

In the past years, for public investment capital, right before December 31 of the previous year, the Government always allocated 100% of the capital after the National Assembly’s decision. This year, with a capital of 657 trillion VND, up to this minute, the Prime Minister has allocated to ministries, central agencies and localities a total capital of about 97% (622 trillion VND). Compared to last year 2023, at the beginning of the year, we only achieved over 78%. The high amount of capital allocated since the beginning of the year has been reflected in the disbursement results of January 2024. In January 2024, the disbursement rate including taxes, according to the Ministry of Finance’s data reached 2.58%, higher than the same period in relative and absolute values. In the same period, we only achieved 1.8%, with a disbursement amount of 12,800 billion VND. Only in January 2024, it reached about 16,900 billion VND.

This result was achieved thanks to the process of the Government and the Prime Minister carefully defining the problems, difficulties in each sector, each field, in each stage of the public investment projects. Public investment is not related to one law, but is a chain of activities related to many legal regulations, from land to environment, construction, forest management, budget… These focal points, obstacles and difficulties are the issues the Government focuses on solving and bringing results right from the beginning of the year, which are very encouraging. For example, in 2023, for large road transport projects, the Prime Minister directed the Government to submit to the National Assembly Resolution 106 on policies and mechanisms and special policies for implementing road transport projects related to different legal regulations. The Government issued Resolution 16 immediately for specific implementation. These are the most specific solutions as well as the activities that the Government assigned to central agencies, localities, and working groups to implement.

It can be said that there are solutions we have been implementing right from the beginning of the term and in the years from 2021 to 2023 until now, and there are breakthrough solutions to solve difficulties, especially in institutions. Besides, solving practical difficulties such as land sources, alternative materials…

With these solutions, we also expect to solve difficulties in projects. At present, in 2024, basically public investment projects, especially important national projects, large projects with regional linkage have been basically overcome. This is a premise for us to accelerate and completely hope that in 2024, we will be able to effectively disburse public investment capital.

Nhat Quang

SOURCEvietstock
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