The Ministry of Finance has issued Official Dispatch No. 4848/BTC-DT on May 13, 2024, to the People’s Committees of provinces and centrally-run cities regarding the disclosure of projects with 0% disbursement of the 2024 public investment plan’s capital sourced from the central budget (domestic).
Accordingly, the total plan for the central budget by sector and field (domestic) managed by localities is VND 82,243.909 billion. However, by March 31, 2024, the projects had only disbursed VND 8,634.291 billion, reaching 10.5% of the assigned plan, lower than the country’s average disbursement rate (12.16%). As of April 30, 2024, many projects still had a disbursement rate of 0% compared to the plan assigned by the Prime Minister.
By March 31, 2024, the projects had disbursed VND 8,634.291 billion, achieving 10.5% of the assigned plan. (Illustration photo: KT)
To help localities grasp the disbursement situation of each project sourced from the central budget by sector and field (domestic) under their management, the Ministry of Finance publicly announced the disbursement status of the 2024 public investment plan’s capital of 316 projects and sub-projects sourced from the central budget by sector and field (domestic) with a disbursement rate of 0% as of April 30, 2024, in 48 localities.
Specifically, in Hanoi, there are currently two projects: the project to renovate, upgrade, and expand National Highway 6, Ba La – Xuan Mai section (VND 450 billion), and the Component 3 project to invest in the construction of expressways in the form of public-private partnerships (VND 4,190 billion).
Notably, Dien Bien province has up to 105 projects with a disbursement rate of 0%, with a total assigned capital of nearly VND 344 billion; Son La has 22 projects (nearly VND 260 billion); Hoa Binh has 18 projects (over VND 264 billion); Quang Binh has 13 projects (nearly VND 75 billion), etc.
According to the report, although Lam Dong province has only six projects on the list of 0% disbursement, the province has up to more than VND 1,000 billion in un-disbursed investment capital in 2024. Among them, the project for the Tan Phu (Dong Nai province) – Bao Loc (Lam Dong province) expressway has an investment plan of VND 800 billion.
To achieve the goal of disbursing over 95% of the 2024 public investment plan according to Dispatch No. 24/CD-TTg of the Prime Minister, the Ministry of Finance requested the People’s Committees of provinces and centrally-run cities to seriously and drastically implement solutions to promote the disbursement of public investment capital from all sources: the central budget, local budgets, and additional sources outside the plan stipulated by the Government in the Resolution on tasks and solutions to implement the socio-economic development plan and state budget estimates for 2024 and the resolutions of regular meetings; and the directions of the Government and Prime Minister on speeding up the allocation and disbursement of 2024 public investment capital.
At the same time, direct investors, departments, branches, and related agencies to review and accelerate the progress of projects; control and payment of public investment capital; speed up the procedures for disbursing investment capital of projects that have not been disbursed and have a lower disbursement rate than the country’s average disbursement rate, which is publicly announced by the Ministry of Finance monthly; proactively review and reallocate capital within their competence among projects that are unable to disburse or slow to disburse to projects with better disbursement performance and capital demands; in case it exceeds their competence, submit it to the relevant ministries for synthesis according to regulations.
In addition, implement advance payments, recovery of advances, acceptance, and payment of investment capital in accordance with regulations and as soon as there is volume.
“The advance payment, advance payment amount, and recovery of advance payments shall comply with the Government’s regulations on management, payment, and settlement of projects using public investment capital, ensuring the effective use and avoiding waste and loss of the state budget capital assigned,” the Ministry of Finance stated.
