PUBLIC INVESTMENT DISBURSEMENT KEY TASK IN LATE 2022 AND EARLY 2023

Prime Minister Phạm Minh Chính has urged ministries and agencies to speed up public investment disbursement in the last months of 2022 and early 2023.

In a dispatch sent on November 10, 2022, he requested ministries, sectors and localities accelerate the disbursement of public investment with an aim to realise the annual national economic growth target of 8 per cent and support economic recovery.

Ministries and agencies at all levels must speed up public investment, regard this as a driving force of growth and a key political task, he said.

He said the mid-term investment plans of almost all projects in the 2021-25 period had been assigned to ministries, central-level agencies and localities.

Citing that difficulties from climate and epidemics are no longer the main reasons preventing the disbursement, he asked for focusing efforts to accomplish socio-economic development goals including disbursing 95 to 100 per cent of public investment sourced from the State budget.

According to the Ministry of Finance, by October 31, 2022, the public capital disbursed from the State budget is estimated to be VNĐ40.3 trillion higher than the same period last year.

However, the disbursement rate achieved only 51.34 per cent of the plan assigned by the Prime Minister.

The PM praised ministries, central-level agencies and localities with high disbursement rate in the first 10 months of 2022. They include the Government Inspectorate, Vietnam General Confederation of Labour, State Bank of Vietnam, Central Committee of Vietnam Fatherland Front, Ministry of Transport and localities of Bình Định, Tiền Giang, Đồng Tháp, Tây Ninh, Lâm Đồng, Ninh Bình, Quảng Ngãi, Bình Thuận.

Those criticised for low disbursement rate are the National Assembly’s Committee for Ethnic Minority Affairs, Vietnam Academy of Science and Technology, Ministry of Foreign Affairs, Writers' Association, Ministry of Health, Vietnam Farmers' Association, Ministry of Education and Training, Ministry of Industry and Trade, Ministry of Labour, War Invalids and Social Affairs, Vietnam Union of Literary and Art Associations, Voice of Vietnam Radio, Vietnam National University HCM City, Hòa Lạc Hi-Tech Park Management Board, Ministry of Justice, Hà Giang, Phú Yên provinces.

Chính urged leaders of ministries, agencies and localities to uphold responsibilities for the disbursement work and step up supervision to timely address difficulties.

He ordered addressing site clearance, compensation and resettlement support for local people, harmonising the interests of the State and the people and ensuring the project’s progress.

Projects with low disbursement rate would have capital transferred to others with higher rate, he said.

Source: VNS