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Tuesday, May 17, 2022

Over VND50 trillion of public investment yet to be allocated

By Van Phong

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HCMC – As of the end of last quarter, more than VND50 trillion of public investment has yet to be allocated and 29 units have yet to disburse their allocated capital for public investment, according to the Ministry of Finance.

In a report sent to the prime minister, the ministry stated that more than VND61.5 trillion was disbursed in the first quarter of the year, representing 11% of the full-year target.

According to the Ministry of Finance, the Government had allocated the public investment capital for 2022 to ministries, agencies and localities. It later issued a decision adjusting the mid-term public investment sourced from the State budget in the 2021-2025 period.

Ministries, agencies and localities have been allocating the capital for this year.

In addition, in the first three months of the year, investors focused on preparing project files.

Furthermore, the investment and bidding procedures are being completed for some projects.

As for the foreign capital, investors of some projects have been negotiating with foreign partners and working out plans to choose contractors, so the capital has yet to be disbursed for these projects.

The Ministry of Finance asked ministries, agencies and localities to accelerate the disbursement of the public investment.

The Ministry of Planning and Investment should propose solutions to handle those failing to allocate the public investment for this year in line with the law.

The ministry should also propose cutting the public investment allocated to ministries, agencies and localities that have yet to allocate the public investment for 2022 and transfer the capital to those in need and having a high disbursement capacity.

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