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 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 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 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 units to promptly complete assigned tasks within the required timeframe, while minimizing requests for guidance from relevant departments and sectors regarding procedures within their competence or those that have been delegated by the City People’s Committee.

Daily checks on progress should be conducted, along with 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. Reports and recommendations for removing obstacles should be promptly submitted in cases that exceed their authority. The heads of units are fully responsible for the disbursement results of their units, and the disbursement rate is assessed based on data determined and mutually agreed upon by the units since the beginning of 2024.

For units with a capital disbursement structure that includes large compensation and site clearance costs, and which are expected to be disbursed in the fourth quarter of 2024, the City’s 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 disbursement progress due to their failure to promptly urge investors to implement and propose solutions when issues exceed their authority.

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