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The photo shows a construction site with heavy machinery and workers. This image represents the progress of Vietnam’s public investment disbursement in key national and regional transportation projects.
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The Ministry of Finance has disclosed information regarding key national and regional transportation projects, including inter-regional transportation projects managed by local authorities. As of now, the disbursement of these projects has reached nearly VND 43,508 billion, equivalent to 29.7% of the yearly plan.
According to the Ministry of Finance, the total planned state budget capital for these projects accounts for 21.7% of the total state budget capital, allocated by the Prime Minister to ministries, central agencies, and local authorities (VND 669,264 billion). Among these, key national and transportation industry projects are allocated more than VND 112,207 billion, while inter-regional transportation projects receive over VND 32,730 billion.
However, as of July 31, the disbursement rate for 38 key national and transportation industry projects was approximately VND 36,363 billion, achieving 32.4% of the plan. Notably, four projects, including the North-South Expressway in the 2021-2025 period, the Tuyen Quang-Ha Giang Expressway, the Cao Lanh-An Huu (Tien Giang) Expressway under the management of the Ministry of Transport, and a locally managed project, have achieved over 50% disbursement rate. On the other hand, out of 85 inter-regional transportation projects managed by 61 localities, 16 projects have a disbursement rate of less than 15% of the plan, with three projects having 0% disbursement.
Regarding 21 river and coastal erosion control projects managed by the Mekong Delta provinces, the State Treasury reported a disbursement of VND 1,397 billion, reaching 34.9% of the central budget capital plan. With less than five months left in the deadline for disbursing the central budget reserve capital for 2023, many localities with low disbursement rates may struggle to complete their plans by December 31.
To ensure timely disbursement of public investment capital for 2024 and strive to achieve over 95% of the plan assigned by the Prime Minister, the Ministry of Finance has requested the strict and determined implementation of solutions in accordance with the Government’s Resolutions and Telegrams. Leaders at all levels have instructed project owners, departments, contractors, and relevant agencies to review and expedite the progress of projects, focusing on investment control and capital payment. Particularly, attention should be given to expediting disbursement procedures for projects with low or zero disbursement rates, aiming to catch up with the national average disbursement rate disclosed by the Ministry of Finance on a monthly basis. Furthermore, procedures related to advance payments, recovery of advances, acceptance, and capital payment should be carried out promptly and in compliance with regulations as soon as there is volume.
Additionally, the Ministry of Finance has requested the Ministry of Transport and local authorities to closely manage contract advance payments in accordance with regulations to ensure efficiency and prevent waste or loss of state budget capital. For the Mekong Delta provinces, the Ministry of Finance has urged the strict implementation of the Prime Minister’s Decision No. 1162/QD-TTg dated October 8, 2023, which states, “Localities shall organize the implementation and disbursement of the central budget reserve capital for 2023, which was supplemented no later than December 31, in accordance with the law.”
Hanh Nguyen
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