Capital allocation is focused, key, and evaluated based on output efficiency.

On the morning of October 21, discussing at Group 16 (including the National Assembly delegations of Da Nang, Tuyen Quang, and Cao Bang cities), Vice Chairman of the National Assembly Nguyen Duc Hai said that in order to improve the progress and efficiency of public investment disbursement, in the long term, it is necessary to allocate capital resources with focus and key points, based on output results, and build a system of standards for evaluating public investment.

Slow disbursement of public investment is partly due to poor project preparation.

Vice Chairman of the National Assembly Nguyen Duc Hai speaks at the group. Photo: Pham Thang

In addition to the achievements, the socio -economic situation of our country still has some difficulties and challenges. In the Audit Report, the Economic and Financial Committee noted that the scale of public investment is large, but the progress and efficiency of disbursement are not commensurate, by the end of September 2025, only about 50% of the plan has been reached, causing great pressure in the last months of the year. Some key infrastructure projects are still facing difficulties in construction.

Concerned about the progress and efficiency of disbursement, some delegates suggested that there should be mechanisms and policies to remove obstacles in public investment disbursement, including considering separating site clearance into separate projects within projects.

Regarding this issue, Vice Chairman of the National Assembly Nguyen Duc Hai stated that in Resolution No. 29/2021/QH15 approving the Medium-Term Public Investment Plan for the 2021-2025 period, the National Assembly has allowed the pilot implementation of separating site clearance into separate projects, on that basis, research for implementation.

The Vice Chairman of the National Assembly said that the slow progress of public investment disbursement in recent times was due to poor investment preparation. Normally, public investment capital is allocated before preparing and implementing projects.

Emphasizing that "The Law on Public Investment has provisions for separating the investment preparation part for project implementation", the Vice Chairman of the National Assembly noted that the current allocation of investment capital often focuses on payment for unfinished volume and debt repayment, without appropriate arrangement for the investment preparation stage, including site clearance.

Therefore, to improve the progress and efficiency of public investment disbursement, according to the Vice Chairman of the National Assembly, it is necessary to focus on improving the quality of investment preparation. Experience in developed countries also shows that careful investment preparation will result in very fast construction.

In the long term, in addition to promoting the progress and quality of public investment disbursement, the Vice Chairman of the National Assembly suggested that it is necessary to develop private and social investment. This is also the policy in Resolution No. 68-NQ/TW dated May 4, 2025 of the Politburo on private economic development. In the coming time, public investment will not focus on production but on essential infrastructure, creating momentum for regional development, or important projects to promote science, technology, and innovation.

Chairman of the Committee for Culture and Society Nguyen Dac Vinh also said that it is necessary to review and clearly list the causes of slow public investment disbursement, and attach specific responsibilities. If the assessment is general, it will be difficult to find effective solutions to improve the progress and quality of public investment disbursement.

Chairman of the Committee for Culture and Social Affairs Nguyen Dac Vinh speaks. Photo: Pham Thang

Agreeing with the assessment that slow public investment disbursement is partly due to poor preparation and budgeting, the Chairman of the Committee for Culture and Society stated that through working in many localities, it has been recorded that there are areas of land that have not been included in planning or where the forecast of site clearance is very difficult but is still included in project planning.

Besides, the slow implementation of cultural and social projects is also due to the fact that when developing the project, the implementation method has not been calculated, leading to confusion in implementation. Projects are often established based on the wishes of the locality and the sector, without calculating feasibility or considering financial options.

Emphasizing that "these are issues related to the process and procedures for implementing public investment projects, not due to institutions or policies", the Chairman of the Committee for Culture and Society suggested that it is necessary to review the project's budget preparation stage to promptly correct and ensure effective implementation.

Overview of the discussion session at Group 16. Photo: Pham Thang

In addition, some delegates also said that the slow issuance of documents detailing guidelines on technical standards and norms, especially in the cultural and social fields, is also the reason why many places do not carry out bidding and project implementation.

In particular, bidding for educational equipment or information technology projects cannot be implemented mainly due to the lack of guidance documents on technical standards and norms. Therefore, it is necessary to review and accurately identify the causes of slow public investment disbursement, thereby determining effective solutions to avoid wasting investment capital.

Flexible government management is needed.

Regarding the National Financial Plan for the 2026-2030 period, Vice Chairman of the National Assembly Nguyen Duc Hai said that in the next 5 years, huge resources are needed, including public investment capital, requiring effective management and use of capital.

“Increasing the speed of disbursement will be a factor to help promote faster growth. Avoid the situation of allocating capital at the beginning of the year but still having a large surplus at the end of the year, not allocating capital in a timely manner. Projects need capital but the capital does not reach the projects. Therefore, the efficiency of capital use is a very important issue,” the Vice Chairman of the National Assembly suggested.

Besides, Vice Chairman of the National Assembly Nguyen Duc Hai said that in the coming time, it is necessary to allocate capital resources with focus, key points, and avoid spreading and wasting; manage finance, allocate investment capital according to output results, and build a system of standards to evaluate public investment.

Concerned about resource efficiency and resource mobilization for the 2026-2030 period, National Assembly Deputy Pham Thuy Chinh (Tuyen Quang) noted that public debt safety indicators were set not to avoid debt but to ensure correct and sufficient borrowing, effective use and debt repayment capacity.

National Assembly Delegate Pham Thuy Chinh (Tuyen Quang) speaks. Photo: Pham Thang

Therefore, although agreeing with the public debt safety threshold for the 2026-2030 period proposed by the Government, due to the current financial conditions of our country creating a lot of room for further borrowing, the delegate also emphasized the requirement of "effective management, effective, safe and transparent use of borrowed capital".

The Government's report proposed many accompanying solutions such as maintaining fiscal discipline; strongly shifting to good debt, that is, borrowing to invest in infrastructure, innovation and clean energy, and not borrowing for regular spending. At the same time, strengthening the role of the Government to create, increasing the proportion of domestic borrowing, with long terms from 10 to 30 years, and proposing solutions to increase revenue and reduce loss in the use of borrowed capital.

Delegate Pham Thuy Chinh noted that the public debt borrowing and repayment plan is only feasible when the GDP growth rate in the 2026-2030 period is achieved as proposed by the Government, as well as maintaining macroeconomic stability, controlling inflation and improving investment management efficiency.

Delegates suggested that it is necessary to monitor and properly assess the situation in order to have flexible solutions to withstand shocks from fluctuations in the world economy that may affect the implementation of the public borrowing and debt repayment plan. “Implementing the public borrowing and debt repayment plan for the 2026-2030 period requires flexible management by the Government,” delegate Pham Thuy Chinh emphasized.

Source: https://daibieunhandan.vn/phan-bo-von-co-trong-tam-trong-diem-danh-gia-theo-hieu-qua-dau-ra-10391204.html