Key tasks, strategic significance

Accumulated payments from the beginning of the year to January 31 were VND31,524.5 billion, the total plan was VND689,775.9 billion, reaching 4.57% of the plan. Estimated payments from the beginning of the year to February 29 were more than VND59,998 billion, reaching 8.7% of the total plan and 9.13% of the plan assigned by the Prime Minister .

There are 4/44 ministries and central agencies and 38/63 localities with estimated disbursement rates above the national average. 32 ministries and central agencies have a disbursement rate of 0%; 6 localities have low disbursement rates, below 5%.

Regarding capital allocation, as of February 29, ministries, agencies and localities have allocated and assigned in detail 631.9 trillion VND of public investment, reaching 94.9% of the plan assigned by the Prime Minister. The amount of capital not yet allocated in detail is 33,500 billion VND; estimated payment by February 29 is 60,000 billion VND, reaching 9.13% of the plan assigned by the Prime Minister. There are 29 ministries and central agencies that have not yet disbursed the 2024 plan.

Thus, it can be seen that the allocation and disbursement of public investment capital this year has shown many positive signs. However, in order to achieve the target of disbursing over 95% of the planned capital assigned by the Prime Minister, there is still much work to be done to avoid the situation that has occurred in the past many years, which is "slowly at the beginning of the year and hastily at the end of the year".

Because in 2023, the Ministry of Planning and Investment alone had to issue 7 telegrams and 13 documents urging ministries, central and local agencies to complete investment procedures for projects and allocate detailed public investment plans. Regularly inspect, supervise, strengthen discipline and order in capital disbursement, attach responsibility of heads of agencies and units to disbursement results...

In particular, to speed up the disbursement progress, the Government, the Prime Minister and relevant ministries and branches have closely monitored and clearly identified obstacles and difficulties in each sector, each field, and each stage of the projects, and established working groups to promptly find solutions.

Thanks to these drastic moves, the progress of public investment disbursement in 2023 has improved significantly month by month. And for the whole year, the disbursement rate is estimated at about 95%, about 3.58% higher than in 2022.

According to forecasts, this year, public investment capital will continue to maintain at 25-26% of total social investment capital, equivalent to 9-10% of GDP - continuing to be an important driving force to accelerate economic and social recovery and development, contributing to economic growth. Therefore, disbursement is determined to continue to be a key political task that requires drastic and effective implementation of solutions.

That is to continue to deploy the activities of the 5 working groups of the Prime Minister to inspect, urge, remove difficulties and obstacles, promote capital disbursement at ministries, central and local agencies. Speed up the preparation progress, investment decisions, contractor selection to soon start construction of new projects.

Resolutely do not spread investment, eliminate unnecessary projects, transfer capital from undisbursed projects to projects that can be disbursed, do not let it be wasted or ineffective. Proactively prepare necessary conditions for implementation immediately after being assigned a capital plan by competent authorities.

Public investment is the “seed capital” that stimulates many other sources of capital. Therefore, promoting allocation and disbursement is both urgent and strategic, and is a key task to contribute to promoting growth, stabilizing the macro economy, and ensuring major balances of the economy.

Therefore, the problem is to identify and recognize bottlenecks and bottlenecks to have solutions to effectively implement, not to continue the situation of "slowly at the beginning of the year and hastily at the end of the year".

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