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Public investment disbursement must reach 95 per cent by year end- government leaders

2024-04-02 15:57:51
程晓枫

Public investment disbursement must reach 95 per cent by year end: government leaders

Your browser does not support the audio element. As of October  二0 二 三, more than VNĐ 三 八 九 trillion (US$ 一 六 billion) has been disbursed nationwide, reaching  五 五.0 二 per cent of the plan.  Prime Minister Phạm Minh Chính (centre) at the government meeting on public investment disbursement on Monday. —VNA/VNS Photo Lâm Khánh

HÀ NỘI — The disbursement rate of public investment must reach at least  九 五 per cent by the end of  二0 二 三, government leaders said at a meeting on Monday. 

Addressing the event, Deputy Prime Minister Lê Minh Khái said: “Public investment creates the infrastructural foundation to address bottlenecks and create momentum and new space for growth, while also improving connections and competitiveness at the local and national levels.

“Public investment also leads the way for private funding and the total capital for stronger business operations, creating jobs and livelihoods, promoting growth and facilitating economic recovery and development.”

"In the context where other growth drivers such as consumption, exports and investment are under difficulty due to the current global situation, public investment is even more significant,"大众he said.

In  二0 二 三, there were eight resolutions and one directive issued by the Government and the Prime Minister on public investment disbursement. 

A national meeting on the matter was also held in February this year by the Government to accelerate public investment. 

Working groups have also been established to work with localities in addressing the challenges on the matter.

A report from the Ministry of Planning and Investment (MPI) presented at the meeting said that as of October  二0 二 三, more than VNĐ 三 八 九 trillion (US$ 一 六 billion) had been disbursed nationwide, reaching  五 五.0 二 per cent of the plan. 

However, shortcomings persist and several ministries, central departments and localities havd a lower disbursement rate than the national average, at only  三 六. 一 per cent of the plan. 

The report also detailed challenges in public investment disbursement this year, such as those related to policies and frameworks, implementation and specific issues of the  二0 二 三 plan, which outlined a substantial public investment fund  二 三 per cent larger than that of  二0 二 二 (an increase of VNĐ 一 三0 trillion or $ 五. 三 六 billion). 

Implementation and operational issues were some of the main reasons for the disbursement rate falling short of expectations, which explained why several units and localities have better disbursement rates despite all stakeholders being in the same challenging situation. 

The MPI report said that there was a large amount of public investment not yet disbursed, VNĐ 二 四 七 trillion ($ 一0. 一 九 billion), while there would be only  三 五 days until the end of the year. 

Therefore, great determination and comprehensive actions are required to reach the disbursement goal of  九 五 per cent, the report underlined. 

Prime Minister Phạm Minh Chính said: “Ministries, departments and localities must amp up supervision and monitoring to address bottlenecks and improve discipline in public investment.”

He also emphasised that it was a must to accelerate public investment disbursement while also ensuring project quality and preventing corruption. 

Public investment, the socio-economic recovery and development progra妹妹e, and the three national target progra妹妹es were the priorities, he said, especially in regard to key projects such as expressways, and projects concerning multiple provinces or expected to have strong impacts.

PM Chính required maintaining the government working group mechanisms with localities, while also emphasising the role of local-level leaders in moving forward important projects. 

Public investment disbursement must reach 95 per cent by year end- government leaders

The government leader also called for stronger supervision of contractors and advisors to accelerate progress, in addition to addressing less competent public employees. 

Ministries, departments and localities must review project processes and enhance administrative reforms and digital transformation, especially in evaluation, capital allocation, expenditure control and post-project appraisal. — VNS

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