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Saturday, June 22, 2024

Public investment disbursement reaches 21% of annual plan

The Saigon Times

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HCMC – Public investment capital disbursements have reached 21% of the full-year plan in the first five months of the year, according to the Ministry of Finance.

Eleven out of 44 ministries and central agencies, and 31 out of the country’s 63 centrally-run cities and provinces, have exceeded the national average disbursement rate. The overall disbursement rate was 22%, slightly above the plan assigned by the prime minister.

Ministries with high disbursement rates include Vietnam Television at 100%, the Ministry of Construction at 41.44%, and the Ministry of Agriculture and Rural Development at 41.53%. Leading localities include Tien Giang Province with 47.8% and Phu Tho Province with 41.95%.

However, 30 ministries and central agencies reported disbursement rates below 10%, with four having disbursed no funds. Additionally, 27 cities and provinces had disbursement rates under 20%.

The Ministry of Finance has called on local leaders to instruct relevant departments to review and expedite project progress, addressing issues such as procedural delays, land clearance, volatile raw material prices, and public disagreements over compensation and resettlement plans.

The ministry recommended detailed capital allocation plans for the upcoming year, specifying capital levels for each project. It also called for comprehensive guidelines from the Ministry of Planning and Investment.

Currently, the lack of feedback from the Ministry of Planning and Investment has delayed budget approval for qualified projects allocated after December 30, 2023.

For projects where non-affiliated entities act as main investors, the Ministry of Finance has sought legal clarifications from the Ministry of Planning and Investment. The Ministry has requested the prime minister to instruct the Ministry of Planning and Investment to promptly provide feedback on these matters to ensure a unified approach.

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