Public investment disbursement: Difficulties remain huge

In the context of the 2024 economy having gone nearly halfway, the fact that Ho Chi Minh City - the economic locomotive of the whole country - is facing a very slow disbursement of public investment; or that up to now, the whole country still has 29.2 trillion VND of unallocated capital... shows that there are still great difficulties and challenges to be able to complete the goal of striving to disburse over 95% of this year's plan, requiring more drastic and synchronous solutions.

Anxiety has arisen.

Ho Chi Minh City aims to disburse 10-12% of total public investment capital in 2024 in the first quarter and 30% in the second quarter. However, as of May 24, disbursement had only reached VND6,705.2 billion, equivalent to 8.5% of the 2024 capital plan. Thus, by the end of May - ie 2/3 of the second quarter - disbursed capital in the area had only met the target for the first quarter, reflecting the very slow disbursement progress in one of the country's economic locomotives and this locality is also in the group of 29 localities with disbursement below the national average.

Construction of Ring Road 4 Project - Hanoi Capital Region

According to the report at the regular Government meeting in May, by the end of May 2024, the disbursement rate nationwide is estimated at VND 148,284,757 billion, equal to 22.34% of the plan assigned by the Prime Minister, reflecting a not bad picture because it is still equivalent to the same period in 2023 (equal to 22.22% of the plan). However, besides a number of ministries, central agencies and localities with good disbursement rates, thereby obtaining the average disbursement figure of the whole country quite positively as above, there are still 33 ministries, central agencies and 29 localities with a 5-month disbursement rate below the average, in which, in particular, there are 4 ministries and central agencies that have not yet disbursed any capital (disbursement rate is 0%). Notably, in the above disbursement figure (VND 148,284,757 billion, equal to 22.34% of the plan), disbursed domestic capital was VND 146,750.4 billion (reaching 22.79% of the plan), while foreign capital was VND 1,534.4 billion (reaching only 7.67% of the plan assigned by the Prime Minister, while this rate in the same period in 2023 was 12.02%).

In addition, there are other negative data such as: There is still about 29.2 trillion VND (accounting for 4.4% of the plan assigned by the Prime Minister) of capital that has not been allocated in detail; 5 ministries, central agencies, and 10 localities have not completed investment procedures for projects using increased central budget revenue (NSTW) in 2022; 6 localities have not proposed to adjust the NSTW medium-term public investment plan or arrange local budget (NSDP) to recover or have not recovered enough advanced capital...

The difficulties, obstacles, and causes affecting the progress of public investment disbursement in 2024 and the disbursement situation in the past 5 months are probably not much different from the same period in previous years if we look at the specific nature and "stages" of investment expenditure (leading to the disbursement rate often being low in the first months of the year, increasing sharply in the last months of the year). However, in many stages, if the preparation work is better, the procedures are faster, and the implementation is more drastic, the disbursement process will be smoother and more effective.

Strengthening the responsibility of officials in capital disbursement work

In addition, there are issues and phenomena that have emerged recently that need to be addressed promptly. In particular, there are still many shortcomings in the implementation organization in many places. Because of the same legal and regulatory framework, some ministries, central and local agencies have good disbursement rates and vice versa, there are still places with low disbursement rates. This partly shows that disbursement will be difficult to accelerate when all levels and sectors have not really taken part; the role and responsibility of the leader have not been promoted and are not really clear. Along with that is the situation where there are still cadres, civil servants and public employees who show signs of avoiding and pushing work, fearing mistakes and responsibility, not daring to advise and propose work handling, not fully performing their functions and powers in performing public duties, causing congestion in the organization, implementation and disbursement of capital.

Concluding the regular Government meeting in May 2024, one of the main tasks and solutions emphasized by Prime Minister Pham Minh Chinh is to resolutely further promote the disbursement of public investment capital and 3 national target programs. Continue to promote the activities of 5 Working Groups of the Prime Minister and 26 Working Groups of Government members, promptly allocate the remaining public investment capital. Report to the National Assembly to allow proactive adjustment of capital plans from places that have not been allocated or are slow to disburse to places that are fast to disburse and need additional capital; promptly handle difficulties and obstacles, speed up the progress of important and key national infrastructure projects; strive to disburse over 95% of the assigned plan.

Promoting administrative procedure reform; promoting the responsibility of leaders; protecting cadres who dare to think, dare to do, dare to take responsibility; overcoming the situation of pushing, avoiding, and lacking responsibility among a number of cadres, civil servants, and public employees are also the contents raised and proposed by many National Assembly deputies in the discussion session on socio-economics at the 7th session of the 15th National Assembly. The good news is that recently, on behalf of the Politburo, Politburo member and Standing member of the Secretariat Luong Cuong signed and issued Regulation No. 148-QD/TW of the Politburo on the authority of leaders in temporarily suspending subordinate cadres from work when necessary or when there are signs of serious violations of Party regulations and State laws. Accordingly, one of the grounds for the leader to decide to temporarily suspend a subordinate is that the officer intentionally delays, shirks responsibility, and fails to perform work within his/her authority according to assigned functions and tasks.

In order to strive to complete the disbursement target of over 95% of the assigned plan, the Ministry of Planning and Investment has just issued Official Dispatch No. 03/CD-BKHĐT to leaders of ministries, branches and localities on promoting disbursement, completing investment procedures for projects using increased revenue from the central budget in 2022 and completing the recovery of all advanced capital as prescribed. Official Dispatch No. 03 emphasized that with 33 ministries, central agencies and 29 localities having capital disbursement rates in the first 5 months of 2024 below the national average, it is requested that Ministers, Heads of agencies, Chairmen of People's Committees of provinces and cities focus on directing their affiliated units to implement stronger and more drastic solutions to remove difficulties and obstacles, speed up the disbursement progress of projects; resolutely transfer cadres for cadres who are afraid of making mistakes and being responsible, causing congestion in capital disbursement.

Along with that, it is recommended to develop a monthly and quarterly disbursement plan for each task and project; Assign leaders to be responsible for monitoring the implementation progress and disbursement of each task and project according to the set plan, urge and promptly remove difficulties for each project; The disbursement results of each assigned task and project are the basis for evaluating and reviewing the emulation of all levels, sectors and the level of task completion in 2024 of the leader.

Source: https://thoibaonganhang.vn/giai-ngan-dau-tu-cong-kho-khan-con-rat-lon-152531.html