Conference on disbursement of public investment funds

Việt Nam•05/03/2024

On March 5th, Comrade Tran Quoc Nam, Deputy Secretary of the Provincial Party Committee and Chairman of the Provincial People's Committee, chaired a conference to review the disbursement results of 2023 and accelerate the disbursement of public investment capital in 2024. Attending the conference were Comrade Tran Minh Luc, Standing Member of the Provincial Party Committee and Vice Chairman of the Provincial People's Council; the Vice Chairmen of the Provincial People's Committee: Nguyen Long Bien, Le Huyen, and Trinh Minh Hoang; and leaders of departments, agencies, and localities.

In 2023, the entire province disbursed 2,896.872 billion VND out of 2,991.454 billion VND in public investment capital, reaching 96.8% of the plan, achieving the target set by the Prime Minister and the highest disbursement rate in the last three years. Of this, domestic budget capital disbursement reached and exceeded 100% of the plan; foreign capital reached 82.2%; and national target program capital reached 94.4%. 26 units disbursed over 95% of their plan; 7 units disbursed below 95%. The total number of projects implemented in 2023 was 22 (excluding projects from national target program sources), with a total capital of 1,985.491 billion VND. By the end of 2023, 6 projects were completed and put into use, and 16 projects were carried over to 2024, basically meeting the set schedule.

In 2024, the province was allocated VND 2,962.569 billion by the Prime Minister; of which VND 2,203.069 billion was domestic capital and VND 759.5 billion was foreign capital. As of February 15th, the province had disbursed VND 341.129 billion, reaching 12.3% of the allocated capital plan.

Recognizing that disbursing public investment capital is a crucial task and responsibility of the entire political system, the province aims to achieve a disbursement rate of 95-100% of the planned public investment capital in 2024. Specifically, by the end of Q3/2024, the disbursement rate is targeted to reach over 60%, and by the end of Q4/2024, over 90%. For projects with capital from 2023 that have been extended to 2024, the province aims to achieve 100% disbursement by the end of Q3/2024.

At the conference, representatives from various units and localities presented papers analyzing and clarifying the causes and achievements; based on that, they proposed solutions to accelerate the disbursement of public investment capital in the coming period.

Comrade Tran Quoc Nam, Deputy Secretary of the Provincial Party Committee and Chairman of the Provincial People's Committee, delivered a speech at the conference.

In his concluding remarks at the conference, the Chairman of the Provincial People's Committee acknowledged and commended the achievements of the departments, agencies, and localities, which have made significant contributions to economic growth, recovery, and socio-economic development. He also criticized some units with low disbursement rates. The Chairman emphasized that accelerating the disbursement of public investment capital is crucial for promoting economic growth amidst numerous difficulties, contributing to the achievement of growth targets. In 2024, the volume of public investment capital will be higher than in 2023, with many additional funding sources and many large-scale projects needing completion within the year. Therefore, departments, agencies, and localities need to focus on accelerating construction progress to ensure the completion and disbursement of funds in 2024.

In that spirit, the Chairman of the Provincial People's Committee requested that all sectors, units, and localities continue to innovate their thinking and actions to create strong changes in leadership and management, uphold a high sense of responsibility, and implement tasks; accelerate disbursement while ensuring the quality of projects; strengthen inspection and supervision, and continue to maintain the operation of the 12 working groups to urge the disbursement of public investment capital; and strictly handle cases of violations and delays in capital allocation. He urged the entire political system to focus on resolving obstacles and emerging issues, especially mobilizing the people and resolving difficulties in compensation and land clearance for projects. He requested that all sectors and levels unite, show high consensus, and work together with high determination to overcome difficulties and challenges, and decisively implement tasks from the beginning of the year to successfully achieve the goals set for 2024.

On this occasion, the Chairman of the Provincial People's Committee presented certificates of commendation to 6 outstanding collectives and 7 outstanding individuals for their excellent performance in disbursing public investment funds in 2023.

Mr. Tuan

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