HCMC – Deputy Prime Minister Ho Duc Phoc has urged ministries and sectors to intensify efforts to accelerate the disbursement of public investment funds, aiming to meet the annual target of 95%, according to the Vietnam News Agency.
With only 45 days remaining in 2024, Phoc stressed the need for timely and rigorous procedures to ensure efficient fund utilization while preventing any loss or mismanagement. He called on ministries and sectors to address challenges faced by localities, expedite approvals, and finalize project settlements before December 31.
According to the Ministry of Finance, public investment disbursement from January to October reached VND355.6 trillion, or 52.29% of the Prime Minister’s target.
Of this amount, around VND16.1 trillion was dispersed in the national target program disbursed, reaching 59.25% of the target set by the Prime Minister.
The estimated disbursement of central government budget funds for the January-October period was 54.9%, higher than in the same period in 2023. However, the disbursement of local government budget funds remained low at 50.8%.
Of the 44 central ministries and agencies, only 15 surpassed the national average disbursement rate. Among localities, 41 out of 63 achieved above-average rates.
Despite some progress, several obstacles continue to hinder disbursement. These include issues related to policies and mechanisms, land clearance, land use planning, and raw material supply.
Phoc emphasized that overcoming these hurdles is critical to achieving the disbursement target and ensuring the timely completion of public investment projects.
