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 for Construction Investment, 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 disbursing 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 Construction Investment in Civil and Industrial Works (8.6%), the Project Management Board for Construction Investment in Transport Works (19.7%), the Project Management Board for Construction Investment in Urban Infrastructure (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 central 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 timeframe, while minimizing requests for guidance from related departments and sectors regarding procedures within their competence or those that have been delegated by the City People’s Committee.

Daily checking and directing the handling and resolution of tasks and recommendations related to public investment projects, which are updated by the units on the software system for monitoring the progress of resolving recommendations on public investment operated by the Department of Planning and Investment. Report and propose immediate solutions for cases that exceed their authority. The head of the unit is fully responsible for the disbursement results of their unit, and the disbursement rate is evaluated 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 and expected disbursement in the fourth quarter of 2024, the City leaders requested close monitoring and supervision to ensure disbursement according to the set plan. They are held accountable for any failure to complete the procedures related to capital disbursement.

The investors are fully responsible to the City People’s Committee for completing the monthly disbursement plan according to the agreed-upon figures, 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 issues exceed their authority.

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