As of now, the rate of disbursement of public investment capital in Lao Cai has reached approximately 1,900 billion VND, equivalent to 36% of the plan assigned by the Prime Minister at the beginning of the year. This figure places Lao Cai among the provinces and cities with the highest disbursement rates nationwide.
However, compared to the province’s set target, the performance has not yet met expectations. Some localities still have low disbursement rates, and some projects are still behind schedule despite the fact that the peak rainy season has not yet arrived and the weather conditions are favorable for construction. The requirement is to be more determined and serious, linked with the responsibility of the leaders, and to constantly maintain pressure on every locality and unit to disburse funds.
Phu Thinh Bridge project spanning the Red River in Lao Cai city
“Regularly inspect and urge contractors, design consulting units, supervise and manage projects to remove difficulties, accelerate progress in a timely manner, and be ready to supplement subcontractors for any units that fail to meet the requirements,” said Mr. Nguyen Quoc Huy, Director of the Department of Transport of Lao Cai Province.
Every month, the results related to disbursement are publicly announced by Lao Cai for timely recognition, criticism, reminders, and finding solutions. Among the localities, Bao Thang is a typical example, having once led the province in disbursement rate in 2023. In the first quarter of 2024, this locality continued to maintain a high disbursement rate, reaching 39% of the plan.
“We must do a good job in investment preparation, including land clearance, which requires a high level of consensus among the people. We must also assign responsibilities to each agency, unit, and investor. Accelerate the progress, select qualified contractors from the investment preparation stage. We must regularly monitor and visit the project implementation sites to make timely adjustments,” shared Mr. Ngo Minh Que, Chairman of Bao Thang District People’s Committee.
Lao Cai also focuses on ensuring capital payment for projects. The current state treasury system is continuing to innovate its expenditure control procedures, shortening the payment time; at the same time, urging investors to complete the payment dossiers as the volume is completed, and avoid concentrating the work at the end of the year.
“Assign tasks to the heads of departments, assign each specialized officer to be in charge of investors, project management boards, regularly synthesize the disbursement progress, recover advances, and report to the Provincial People’s Committee and competent authorities for timely direction and acceleration of capital disbursement,” said Mr. Nguyen Chi Dung, Deputy Director of Lao Cai Provincial State Treasury.
Up to the present time, the balance of capital advances in Lao Cai is at a high level, at over 4,000 billion VND, and some capital flows have been disbursed but have not yet reached the projects. At a recent specialized meeting on disbursement, Mr. Trinh Xuan Truong, Chairman of Lao Cai Provincial People’s Committee, requested that sectors and localities be more serious and scientific, and identify disbursement as a political task, with the goal of disbursing 1,000 billion VND of capital each month from now until the end of the year (including advances).
“We have many projects, focusing on transportation, education, and healthcare, all of which must be completed in 2024. In case of extension, it will only be extended within 2024 and not in 2025. Otherwise, the project will have to be stopped due to reasons such as slow implementation by the locality, lack of consensus among the people, or incomplete land clearance; and the responsibility of the investor must be reviewed,” stated Mr. Trinh Xuan Truong.
