The Big Apple’s Five Districts, Four Localities Lag in Disbursing Public Investment Funds

The launch of this peak period aims to accelerate progress and ensure the disbursement rate of public investment capital for the remaining months and the whole of 2024, especially for key projects and programs.

Accordingly, the Chairman of the City People’s Committee requested the City’s Project Management Boards, the People’s Committees of districts and Thu Duc City, with a lower disbursement rate in the first nine months than the City’s average (20.2%), to urgently implement solutions to promote the progress of disbursement of public investment capital.

Specifically, the nine units with a lower disbursement rate than the City’s average include five Project Management Boards: the Project Management Board for the Construction of Civil and Industrial Works (8.6%), the Project Management Board for Transport Construction (19.7%), the Project Management Board for Urban Infrastructure Construction (7.9%), the Urban Railway Management Board (17.1%), and the Hi-Tech Agriculture Park Management Board (0.5%). The four localities are the People’s Committees of Nha Be District (10.5%), District 1 (11.6%), District 10 (8.8%), and District 5 (13%).

The City’s Chairman requested that the heads of units consider public investment disbursement as a key and important task, with the participation of all officials, civil servants, public employees, and laborers involved in public investment activities.

This includes focusing on enhancing a sense of responsibility and directly leading and directing the unit to promptly complete the assigned tasks within the required time frame, while minimizing requests for guidance from related departments and sectors in handling procedures within their competence or those that have been delegated by the City People’s Committee.

Daily checking and directing the handling of tasks and proposals related to public investment projects updated by units on the software system for monitoring the progress of resolving proposals on public investment operated by the Department of Planning and Investment is also necessary. Reporting and proposing immediate solutions for cases beyond their competence are crucial. The heads of units are held accountable for the disbursement results of their units, and the disbursement rate is assessed based on data agreed upon and committed to by the units since the beginning of 2024.

For units with a large proportion of capital disbursement for site clearance compensation, which is expected to be disbursed in the fourth quarter of 2024, the City leaders requested close monitoring and supervision to ensure disbursement according to the set plan. These units are held accountable for any failure to complete the necessary procedures for capital disbursement.

The investors are fully responsible to the City People’s Committee for completing the monthly disbursement plan according to the agreed-upon data, without any exceptions. The departments and sectors are responsible for delays in the progress of disbursement due to a lack of timely urging of investors to implement and propose solutions when matters go beyond their competence.

It is known that in 2024, Ho Chi Minh City was assigned over VND 79,000 billion in investment capital. However, as of early October, the disbursement rate has only reached about 20.2%.