Unblocking Local Investment Capital: Streamlining Public Investment Fund Disbursement

Therefore, localities are urgently inspecting, checking, and removing bottlenecks to promote the disbursement of investment projects in their areas.

Accordingly, Ben Tre province is actively implementing many solutions to speed up the disbursement of public investment capital, aiming to achieve a disbursement rate of over 95% of the plan assigned in 2024.

Specifically, the People’s Committee of Ben Tre province directs the working group to inspect the disbursement of public investment capital in 2024 and urgently inspect, check, resolve, and remove bottlenecks in the progress and disbursement of projects of investors to promote the implementation and disbursement of projects in accordance with the law.

Mr. Tran Ngoc Tam, Chairman of the People’s Committee of Ben Tre province, requested that the provincial departments, branches, and localities promulgate and consider the disbursement of public investment as a key political task; closely follow the plan and disbursement targets of each project to direct; be more proactive and drastic in implementing the National Target Programs in the area.

Agencies, units, and localities assigned as investors urgently inspect the overall difficulties in capital disbursement, clearly define the responsibilities of the concerned agencies, and propose specific solutions to speed up the disbursement progress according to the assigned plan. Any unit that fails to complete the capital plan without timely reporting will be held accountable to the Provincial People’s Committee and the Chairman of the Provincial People’s Committee.

Mr. Duong Van Phuc, Director of the Department of Planning and Investment of Ben Tre province, said that the total investment plan for 2024 is more than VND 4,764 billion.

According to the report of the Provincial Treasury, up to August 8, 2024, the disbursement of investment capital sources according to the plan reached more than VND 2,008 billion, reaching 42.15% compared to the plan.

Meanwhile, according to the Department of Planning and Investment of Thai Nguyen province, from the beginning of the year to August 2024, the estimated cumulative payment of public investment capital in the province reached over VND 3,400 billion, reaching about 56% of the capital plan assigned by the Prime Minister. Notably, out of 38 units using public investment capital, 18 units disbursed below the province’s average, including the Management Board of projects to invest in the construction of civil and industrial works of the province, the Management Board of industrial parks of the province, the People’s Committee of Song Cong city, the People’s Committee of Pho Yen city, the Management Board of projects to invest in building Thai Nguyen city, the Department of Education and Training…

In the payment for public investment projects, after inspecting 100 projects of the National Target Programs managed by the provincial level that have been assigned capital plans, the disbursement rate reached about 26% of the plan. In which, projects that have been completed and put into use before December 31, 2023, have been approved for final settlement disbursement reaching 52% of the plan, projects that have been carried over for completion in and after 2024 have a disbursement rate of 26% of the plan, and projects that started in 2024 have a disbursement rate of only 7% of the plan…

According to Mr. Ha Van Duong, Director of the Department of Planning and Investment of Thai Nguyen province, to promote the disbursement progress of public investment capital in the last months of 2024, Thai Nguyen province is determined to implement the directions of the Central Government on promoting the allocation and disbursement of public investment capital; strengthen discipline and regulations in disbursing public investment capital; focus on removing difficulties and obstacles in site clearance in the direction of being proactive, flexible, open, and transparent, in accordance with regulations.

The province promotes the progress of licensing the exploitation of common mineral mines to serve the construction of works and projects, performs procedures for investment capital payment within 5 working days from the date of acceptance of the volume as prescribed, does not accumulate capital at the end of the year, and requests investors to urgently complete investment procedures for new projects to ensure sufficient conditions for allocating capital plans for projects. The province also strengthens the supervision and inspection of the implementation of public investment plans and specific programs and projects, and timely adjusts capital plans from projects with slow disbursement and no capital demand to projects with fast disbursement and capital demand.

Regarding Soc Trang province, Mr. Tran Van Lau, Chairman of the People’s Committee of Soc Trang province, has just signed Document No. 2572/UBND-XD on organizing the implementation of some contents after inspecting the progress of key projects in the province. Accordingly, the Chairman of the Provincial People’s Committee proposed to soon launch an emulation movement of “15 days and nights” to speed up the construction progress of the expressway and strive to achieve the goal of disbursing over 95% of the public investment capital plan assigned by the Prime Minister.

Recently, Mr. Lam Van Man, Secretary of the Provincial Party Committee of Soc Trang, together with the Chairman of the Provincial People’s Committee, inspected the progress of Component 4 of the project for construction of Chau Doc – Can Tho – Soc Trang expressway phase 1 and the project for construction of the East-West Economic Development Axis road.

At the inspection, the provincial leaders acknowledged that the contractors have made great efforts to overcome difficulties and obstacles arising in the construction process. Although the projects have not achieved the planned results, the units have proactively proposed solutions to make up for the progress in the coming time.

To promote the achieved results, speed up the construction progress of key projects, and strive to achieve the goal of disbursing over 95% of the public investment capital plan assigned by the Prime Minister, the Chairman of the Provincial People’s Committee requested the Project Management Board 2 to coordinate with the Department of Home Affairs and relevant units to soon advise the Provincial People’s Committee to launch the emulation movement “15 days and nights to speed up the construction progress of Component 4 of the project for construction of Chau Doc – Can Tho – Soc Trang expressway phase 1” to celebrate the National Day in 2024.

Regarding the East-West Economic Development Axis road project, Mr. Tran Van Lau requested the units and contractors to continue to seriously implement the direction to basically open the whole project by December 31, 2024; at the same time, requested Truong Loc Construction Joint Stock Company to urgently concentrate equipment, machinery, labor, and materials to speed up the progress of constructing Co Co bridge, ensuring that the bridge is put into use and completed on schedule with the whole project.

On a previous inspection at the construction site of key projects of the province, the Chairman of the Provincial People’s Committee requested the contractors to re-establish the detailed construction schedule, urgently concentrate personnel, equipment, and materials as soon as there is sand for filling (expected in the middle of this August) to speed up the progress, organize construction in “3 shifts, 4 groups” to make up for the slow progress in the past time, ensuring the progress of the project.

According to the Chairman of the Provincial People’s Committee of Soc Trang, in case of difficulties and obstacles, the units participating in the implementation of the project need to unite with the spirit of “sharing risks, harmonizing interests”, with the highest determination, being proactive, creative, and daring to think and do to overcome all challenges, bringing the project to the finish line as planned.

The Chairman of the Provincial People’s Committee proposed that Soc Trang Power Company coordinate with Project Management Board 2 to inspect and soon have a plan to relocate medium and low voltage power lines; assign Project Management Board 2 to urge, inspect, and supervise the relevant units to implement the above contents according to regulations and meet the requirements.

The Chau Doc – Can Tho – Soc Trang expressway project phase 1 has a total length of 188.2 km, in which Component 1 in An Giang province is 57.2 km long, Component 2 in Can Tho city is 37.2 km long, Component 3 in Hau Giang province is nearly 37 km long, and Component 4 in Soc Trang province is 56.9 km long. The total investment is VND 44,691 billion, and the whole line is expected to be completed and put into use in 2027.