CMC – Prime Minister Pham Minh Chinh has issued a directive urging the acceleration of public investment capital disbursement in the rest of this year.
The directive copes with low disbursement rates among ministries, agencies and provinces and calls for expeditious action to unlock funds and enable the completion of vital projects within the year.
The directive, signed on August 18, focuses on critical factors such as land clearance, construction progress, and the resolution of land and resource-related impediments.
Disbursement rates in the first seven months of 2023 reached 37.85% of the Government’s target, above the previous year’s 34.47%. However, concerns remain regarding the full utilization of already-allocated funds by year-end.
PM Chinh aims for over 95% execution of the 2023 state budget’s public investment plan, emphasizing the comprehensive responsibility of ministers, agency heads, and local officials.
According to the directive, inefficient officials could be replaced.
The directive says each project must have a detailed disbursement plan.
Coordination between the Ministry of Planning and Investment and the Ministry of Finance is vital for real-time tracking and decision-making on disbursement progress.
The Ministry of Finance is tasked with instructing the State Treasury to step up efforts toward the timely completion of payments and bolster the use of online government services for payment processing, promoting transparency in the payment process.
To facilitate efficient construction practices, the Ministry of Construction will provide guidance, oversight, and encouragement to localities.
The Ministry of Construction will also issue regulations concerning the use of alternative materials in line with regulations.