Disbursement of public investment capital begins to 'accelerate'

Compared to the first 3 months of the year, the disbursement of public investment capital in April 2025 has begun to accelerate. However, there are still many challenges that need to be resolved to further accelerate the progress of bringing this capital flow into the economy.

Estimated disbursement of the 2025 public investment capital plan nationwide by the end of April 2025 is 128,512.9 billion VND.

There are still many challenges.

According to the Ministry of Finance , the estimated disbursement of the 2025 public investment capital plan nationwide by the end of April 2025 is 128,512.9 billion VND, reaching 14.32% of the plan, reaching 15.56% of the plan assigned by the Prime Minister. This rate is lower than the same period in 2024 when it reached 15.64% of the plan and reached 16.64% of the plan assigned by the Prime Minister. However, compared to the disbursement rate nationwide in the first 3 months of the year (disbursement reached 1.26% in January; 5.43% in February; 9.72% in March of the plan assigned by the Prime Minister), the disbursement progress in April has begun to accelerate.

Also according to the Ministry of Finance, in the first 4 months of 2025, 10/47 ministries, central agencies and 35/63 localities had an estimated disbursement rate compared to the plan assigned by the Prime Minister above the national average. Some ministries and central agencies had a disbursement rate of over 20% such as: Vietnam General Confederation of Labor (86.43%); Voice of Vietnam (73.82%); Vietnam Bank for Social Policies (41.16%); Ministry of Public Security (27.24%); Vietnam Women's Union (20.66%).

Localities with disbursement of over 30% include: Phu Tho (44.39%); Lao Cai (43.45%); Thanh Hoa (39.147%); Ha Nam (38.44%); Bac Kan (32.61%); Ha Tinh (31.88%); Tuyen Quang (31.08%), Ha Giang (30.64%), Lam Dong (30.08%).

Besides, there are still 9 ministries, central and local agencies that have not disbursed. 15 ministries, central agencies disbursed less than 5% such as: Ministry of Science and Technology; Ministry of Foreign Affairs; Ministry of Health; Ministry of Culture, Sports and Tourism; Hanoi National University; Ho Chi Minh National University... and 12 localities disbursed less than 10% such as: Khanh Hoa; Cao Bang; Binh Duong; Dong Nai; An Giang; Soc Trang; Quang Tri...

Currently, the process of restructuring and organizing the apparatus is one of the factors affecting the disbursement progress. To be consistent with the apparatus structure after restructuring and streamlining, central and local agencies must temporarily stop starting new projects or are in the process of reviewing to adjust the scale and scope of project investment, leading to not continuing to allocate capital to implement the project to avoid waste.

In addition, the change in responsibilities, authority, and project management processes at the local level due to the failure to maintain the district level and the new functional agencies after the arrangement and merger is also the reason why the appraisal of feasibility study reports, basic designs, construction designs, and payment and settlement work must take longer to process. This affects the site clearance work of central and local projects implemented by district-level units as key organizations.

For ODA projects, some projects are slow to disburse due to adjusting investment policies due to exceeding the total investment amount and increasing compensation costs. The implementation of ODA project adjustments (total investment amount, extension of implementation time, project scope, detailed design of construction items, etc.); extension and adjustment of Loan Agreements must comply with the provisions of Decrees related to borrowing and amending Loan Agreements of the Government. The process of amending Loan Agreements for specific projects goes through many stages, reporting to many agencies, etc., which prolongs the disbursement time.

Compensation and support for site clearance for project construction are still slow; supply of some raw materials is limited (soil, sand, etc.); prices of many raw materials have increased dramatically compared to the time of bidding, increasing project costs; some projects have been implemented but have not completed acceptance and payment documents for disbursement... are also reasons for the slow disbursement progress.

Solve difficulties with each project and task

To ensure the disbursement rate of public investment capital according to the set targets, the Ministry of Finance recommends that ministries, branches and localities specifically report on problems and difficulties associated with each project and task in implementation. For institutional problems, it is necessary to clearly state the problems at points, clauses and articles of laws, decrees, circulars, etc.

In the implementation organization, it is necessary to clearly state the difficulties in specific stages such as: proposing investment policies, investment preparation, investment decisions, site clearance, bidding, payment settlement, etc. From there, propose tasks, solutions, and authority to handle the difficulties.

Ministries, branches and localities direct investors to immediately after signing the contract, coordinate with contractors to implement advance payment procedures according to regulations so that contractors with capital can immediately prepare necessary conditions, supplies and materials for project implementation. At the same time, speed up the acceptance process and complete payment documents immediately after the volume is available to speed up the disbursement progress, ensuring the payment deadline as prescribed.

The Ministry of Finance also requested ministries, branches and localities to develop disbursement plans and require investors to report disbursement progress monthly and quarterly. This will serve as a basis for reviewing and cutting down capital plans of slow-disbursing projects to supplement other projects with good disbursement capacity and need to speed up progress, especially important and urgent projects, strategic infrastructure projects, etc.

In Official Dispatch No. 47/CD-TTg dated April 22, 2025 on a number of key tasks and solutions to promote economic growth in 2025, the Prime Minister assigned the Ministry of Finance to compile a list of Ministers, Heads of Central agencies, and Chairmen of Provincial People's Committees who did not complete the public investment disbursement target in 2024, and report to the Prime Minister.

Therefore, the Ministry of Finance recommends that ministries, central and local agencies seriously learn from experience and resolutely implement to accelerate the disbursement progress of the 2025 public investment capital plan right from the first months of the year, ensuring that the disbursement rate of public investment capital in 2025 meets the disbursement target assigned by the Prime Minister.

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Source: https://baolaocai.vn/giai-ngan-von-dau-tu-cong-bat-dau-tang-toc-post401233.html