A public investment project. (Source: VNA)
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According to the Ministry of Finance, the estimated disbursement rate of public investment capital in 2024 for the whole country as of July reached 32.22% of the total plan, reaching 34.68% of the plan assigned by the Prime Minister and lower than the same period last year.
There were 11/44 ministries and central agencies and 38/63 localities with an estimated disbursement rate higher than the national average. Some ministries, central agencies, and localities with good disbursement rates include Vietnam Television (100%), Ministry of Agriculture and Rural Development (53.95%), Ministry of Transport (50.83%), Ministry of Construction (47.91%), Thanh Hoa (58.45%), Hoa Binh (56, 79%), and Long An (52.22%).
However, there are still 33 ministries and central agencies and 25 localities with disbursement rates lower than the national average. Notably, some ministries and central agencies have very low disbursement rates or a disbursement rate of 0% due to unallocated capital plans, including the Vietnam Cooperative Alliance and the Vietnam Fatherland Front Central Committee.
Some ministries with very low disbursement rates include the Committee for Ethnic Minorities, Ho Chi Minh City National University, and Hanoi National University.
Some localities with disbursement rates below 20% include Ho Chi Minh City, Phu Yen, and Bac Ninh.
The report from the Ministry of Finance also stated that some localities with large plans, such as Ho Chi Minh City, which was assigned 79,263.78 billion VND (approximately 3.3 billion USD), accounting for 11.8% of the plan assigned by the Prime Minister to the whole country, and Hanoi, which was assigned 81,033 billion VND (approximately 3.4 billion USD), accounting for 12.1%, had low disbursement rates, significantly impacting the national average.
According to the Ministry of Finance, the main reasons affecting the progress of public investment capital disbursement are related to policies and mechanisms. In addition, many ministries, sectors, and localities have not allocated details for projects, so disbursement cannot be made. There are also obstacles in site clearance and material supply for key transport projects and in completing investment procedures and disbursement processes for ODA projects.
To achieve the goal of disbursing a minimum of 95% of the assigned plan, as per Resolution No. 01/NQ-CP of the Government, the Ministry of Finance proposed that the Prime Minister direct the Ministry of Planning and Investment to soon submit to the Prime Minister a plan to adjust the central budget investment plan for 2024 among ministries, central agencies, and localities after the Standing Committee of the National Assembly has a resolution on this matter.
The Ministry of Finance also proposed that the Prime Minister direct the Ministry of Planning and Investment to promptly provide guidance on assigning units that are not directly under their management to be investors in some ministries, following the Prime Minister’s directions in Official Dispatch No. 72/TB-VPCP dated February 28, 2024, and Official Letter No. 4808/VPCP-KTTH dated July 9, 2024, from the Government Office.
The Ministry of Finance, together with the Ministry of Planning and Investment, has announced and guided the extension of the implementation and disbursement period of the central budget investment plan for 2023 to 2024. Therefore, ministries, central agencies, and localities are requested to focus on urgently disbursing the extended capital sources mentioned above.
The Ministry of Finance also requested that ministries, central agencies, and localities closely coordinate with the Ministry of Justice, the Ministry of Planning and Investment, and the Ministry of Finance to review and address any inconsistencies or difficulties in legal regulations. The relevant ministries and agencies should then synthesize and propose to competent authorities the issuance of a law amending and supplementing several laws to resolve these issues, thereby promoting growth, controlling inflation, and ensuring macroeconomic stability.
Thuy Duong
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