Construction site of Component 1 of Cao Lanh - An Huu Expressway, section in Nhi My commune, Cao Lanh district ( Dong Thap ). Illustration photo: Nhut An/VNA
Therefore, the Ministry of Finance said it will continue to recommend ministries, central agencies and localities to resolutely direct the removal of obstacles to quickly and effectively implement key tasks on disbursement of public investment capital in accordance with the direction of the Government and the Prime Minister in resolutions, directives and telegrams on promoting disbursement of public investment capital.

At the same time, the Ministry of Finance requires ministries, branches and localities to complete the adjustment and coordination of slow-disbursing or undisbursed projects to projects with potential to accelerate disbursement, make detailed disbursement plans for each project and comply with the weekly disbursement plan; assess the implementation capability in 2023 (capital that must be extended, capital that will be canceled).

The Ministry of Finance also proposed that the Prime Minister assign the Ministry of Planning and Investment to continue coordinating with ministries, central and local agencies to clarify the reasons and responsibilities in proposing to extend the implementation and disbursement time to next year, but the possibility of slow disbursement affects the efficiency of using state budget capital.

Considered one of the localities with a high public investment disbursement rate in the country, it is estimated that the disbursement for the whole year of 2023 in Hanoi will be 48,600 billion VND, reaching 91.5% of the city's assigned plan and 103.5% of the central government's assigned plan.

To achieve the required progress, the Hanoi People's Committee has issued many documents directing units to focus more, remove difficulties and obstacles, speed up the implementation and disbursement of public investment projects. Currently, relevant departments, branches, sectors and units are urgently speeding up the implementation progress, making efforts and striving to complete according to the assigned plan.

Regarding projects using non-budgetary capital that are slow to be implemented, the Hanoi People's Committee and departments and branches have organized many meetings to direct and resolve slow-to-implement and slow-to-progress projects using non-budgetary capital using land in the city.

According to the State Treasury's plan, as of January 31, 2024, the accumulated public investment capital controlled and paid through the State Treasury under the 2023 plan is VND 642,865.5 billion, equal to 96.2% of the plan assigned by the Prime Minister to be controlled through the Treasury.

Compared to 2022, the disbursement amount increased by VND 139,480.5 billion in value, an increase of 3.1% compared to the capital plan assigned by the Prime Minister to control expenditures through the State Treasury.

Economist Dinh Trong Thinh said that to achieve the target of disbursing at least 95% of the assigned capital plan, efforts, determination and drastic measures are needed from ministries, branches and localities. In addition, heads of ministries, branches and localities need to further enhance their responsibilities in formulating and implementing investment plans; strengthen inspection and closely monitor the progress of public investment projects; closely coordinate and promptly handle difficulties and problems, especially in terms of institutions, mechanisms, policies, administrative procedures, raw material sources and unit prices to accelerate the progress of public investment implementation...

Public investment is one of the three driving forces of economic growth, so it has always received the attention and strong direction of the Government. Since the beginning of the year, the Government and the Prime Minister have given strong direction with 8 resolutions, 1 directive, 6 telegrams and many issued documents. Along with that, the Government has maintained the operation of the State Steering Committee for important national projects and works, key projects of the Transport sector; 5 working groups to inspect and promote the disbursement of public investment capital; established 26 working groups led by Government members to work with localities to inspect, urge and remove difficulties. Thanks to that, the results of public investment disbursement have begun to improve since the end of the second quarter and the beginning of the third quarter.

VNA