Ministry of Finance requests Ministry of Transport and localities to urgently allocate local budget plan for 2024 to projects in accordance with Resolution No. 44/NQ-CP dated April 5, 2024 of the Government
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11.2% of the assigned capital plan disbursed during the first 3 months
The Ministry of Finance informs that at the 10th Meeting of the National Steering Committee for Key National and Sectoral Transport Projects, the Prime Minister requested that ministries, central and local agencies, investors, and contractors focus on resources, equipment, etc. to accelerate the implementation of projects. The Prime Minister has also assigned specific tasks to ministries, central and local agencies to remove difficulties and obstacles, and promote the progress of project implementation.
To assist the Ministry of Transport and localities in grasping the capital disbursement status of each project as a basis for deploying directives and urgent solutions, the Ministry of Finance has disclosed the disbursement status of 3-Month State Budget Capital Investment Plan (CIP) from 2024 state budget (SB) – detailed information of key national and sectoral transport projects in the list approved by the Prime Minister.
Accordingly, the total 2024 SB plan capital allocated for key national and sectoral transport projects is 125,608.2 billion VND, accounting for 19.1% of the total SB plan capital assigned by the Prime Minister to ministries, central and local agencies (657,348.9 billion VND).
However, as of March 31, 2024, the projects have disbursed only 14,030.88 billion VND, reaching 11.2% of the assigned capital plan, which is lower than the general disbursement rate of the whole country (12.16%), in which the disbursement rate of the local budget capital plan (LB-CIP) has only reached 6.2% of the 2024 plan.
In particular, as of March 31, 2024, some projects have not disbursed the 2024 Capital Plan that has been allocated or have a very low disbursement rate (below 0.1% of the plan). Some projects have not been allocated the 2024 plan with the local budget capital (LB-CIP), or have only been assigned a very low LB-CIP capital plan, such as Component 2 of Khanh Hoa – Buon Ma Thuot Expressway Project, Phase 1 has not been allocated the 2024 plan; Component 1.1 of the Ring Road 4 project around Hanoi Capital Region has 1,506 billion VND of the 2021 – 2025 medium-term plan yet to be allocated; Component 2.1 of the Ring Road 4 project around Hanoi Capital Region has 2,957 billion VND of the 2021 – 2025 medium-term plan yet to be allocated…
Urgent allocation and disbursement of capital
According to the Ministry of Finance, on March 30, 2024, the Prime Minister issued Decision No. 258/QD-TTg on assigning the 2024 SB capital investment plan and budget from the 2021 SB revenue increase, spending cuts, and savings to the Ministry of Transport and 8 localities for the implementation of three key national highway projects.
However, as of April 23, 2024, only the Ministry of Transport and 4 localities (Khanh Hoa, Dak Lak, Can Tho, Hau Giang) have assigned the detailed 2024 SB capital plan to component projects under their management, with a total assigned capital of 4,021 billion VND. The remaining 4 localities, An Giang, Soc Trang, Dong Nai, and Ba Ria – Vung Tau, have not yet assigned the 2024 plan with the total unassigned capital plan of 2,439 billion VND.
To promote the disbursement of the 2024 SB Capital Investment Plan for key national and sectoral transport projects, the Ministry of Finance requests that the Ministry of Transport and localities urgently allocate the 2024 local budget capital plan for the projects according to Resolution No. 44/NQ-CP dated April 5, 2024 of the Government, regarding the regular Government meeting in March 2024 and the online Government conference with localities, to ensure that the project meets the capital demand for implementation in accordance with the progress approved by the competent authority.
At the same time, the Ministry of Transport and localities need to urgently allocate the 2024 central budget capital plan from the 2021 central budget revenue increase.
The Ministry of Finance also requests that the Ministry of Transport and localities strictly and resolutely deploy solutions to promote the disbursement of public investment capital as prescribed by the Government in the Resolution on tasks and solutions for implementing the socio-economic development plan and the 2024 state budget estimate; the Prime Minister’s Official Dispatch on accelerating the allocation and disbursement of public investment capital in 2024 and the Conclusion of the Prime Minister – Head of the Steering Committee at the 10th Meeting of the National Steering Committee for Key National and Sectoral Transport Projects.
