Challenge of disbursing 95% of capital plan

The estimated disbursement of public investment capital in the first 10 months of this year only reached 47.43% of the plan, but the Prime Minister still requested to strive to complete at least 95% of the plan. According to Mr. Duong Ba Duc, Director of the Investment Department ( Ministry of Finance ), this is a huge challenge, but if determined, it can still be achieved.

The estimated disbursement of public investment capital in the first 10 months of this year only reached 47.43% of the plan, but the Prime Minister still requested to strive to complete at least 95% of the plan. According to Mr. Duong Ba Duc, Director of the Investment Department (Ministry of Finance), this is a huge challenge, but if determined, it can still be achieved.

Mr. Duong Ba Duc, Director of Investment Department (Ministry of Finance)

Slow disbursement of public investment capital is one of the issues that many National Assembly deputies commented on when discussing the economy and society. Sir, what is the reason?

According to the State Treasury's estimate, in the first 10 months of the year, the total volume of public investment capital disbursed was VND 355,616 billion, reaching 47.43% of the plan, equal to 52.29% of the plan assigned by the Prime Minister, lower than the same period in 2023 (reaching over 52% and 56.74% of the plan, respectively).

The main reason is that some localities were assigned large capital plans, but the disbursement rate was not high, such as Ho Chi Minh City was assigned 11.8% of the total capital plan, but only disbursed 19.63%; Hanoi was assigned over 12% but only disbursed 44.62%...

How do ministries, branches and localities assess these problems?

The Ministry of Transport and many ministries, branches, localities, investors, and project management boards have identified four main difficulties and problems.

Firstly, the investment and construction procedures go through many stages and steps, so it takes a lot of time, especially the procedures for converting the purpose of using forests, forest land, rice land, etc.

Second, compensation, support, resettlement, and relocation of technical infrastructure works still pose many risks, affecting project progress.

Third, the supply of materials at some projects is still slow to be resolved.

Fourth, the weather is increasingly erratic, so it is very difficult to forecast.

There are only 4 months left to disburse public investment capital in 2024 (ending on January 31, 2025), but about 53% of the capital is still in the Treasury. To complete at least 95% of the plan is extremely difficult, sir?

Knowing that it is very difficult, but speaking before the National Assembly at the 8th Session, Prime Minister Pham Minh Chinh is still determined to disburse at least 95% of the capital plan. Completing this target is really a pressure for all ministries, branches, localities, investors, and project management boards, but it cannot be completed because if the capital is transferred to 2025, the pressure will be pushed to next year - the last year to complete the medium-term public investment plan for the period 2021-2025 to implement the public investment cycle for the period 2026-2030.

The Government has directed to focus on implementing many important and key projects and works with the spirit of "overcoming the sun, overcoming the rain, not losing to the wind and storm", "working during the day is not enough, so take advantage of working at night", up to now, many key works are being completed on schedule, ahead of schedule, and put into operation.

With this spirit, plus strong direction, I believe that the Prime Minister's requirement to disburse at least 95% of the capital plan will be achieved.

But sir, the problem is the mechanism and policy problems?

Some bottlenecks that have slowed down the progress of disbursement of public investment capital have been reported to the Prime Minister by the Ministry of Finance in its monthly reports, focusing on problems affecting the completion of investment procedures; planning and allocation; and implementation. These problems, which are under its authority, have been resolved.

However, many difficulties and problems affecting disbursement progress have not been completely resolved, such as problems related to mechanisms and policies.

The Government has submitted to the National Assembly a law amending four laws related to public investment for the problems beyond its authority. In addition, the Ministry of Finance has also proposed amending two related laws, the State Budget Law and the Law on Management and Use of Public Assets, in a draft law amending seven laws under the management of the Ministry of Finance. Thus, the "bottleneck of bottlenecks" - mechanisms, policies, and institutions - has been resolved.

The only remaining issue is determination to complete the goal, sir?

It is no longer a determination, but a task. In addition to the resolutions, since the beginning of the year, the Prime Minister has issued 4 directives and 5 telegrams, on average, one document per month directing and urging the disbursement of public investment capital.

Prime Minister Pham Minh Chinh has set out "5 resolutions" in organizing the implementation of the 2024 public investment disbursement plan. These are the determination to maintain discipline, order, and push back negativity in the implementation of public investment disbursement; determination to do well in site clearance, resettlement, and livelihood creation for people; determination to remove institutional bottlenecks and practical problems that affect the progress of public investment disbursement; determination to innovate methods and approaches, apply new and modern technological solutions, and strengthen digital transformation; determination to stick to reality, remove obstacles, and overcome the situation of pushing, avoiding, fear of mistakes, and fear of responsibility in performing public duties of cadres, civil servants, and public employees.

Along with that is the requirement to implement "5 guarantees", including ensuring enough raw materials, especially sand, gravel, stone, soil for embankment... to serve the construction of projects; ensuring the number of human resources, selecting cadres with enough capacity, dedication, and level to assign tasks related to the disbursement of public investment capital; ensuring the harmony of interests between the State, investors and people in implementing site clearance and resettlement work; ensuring public investment management in accordance with regulations, not prolonging the project implementation time, increasing the total project investment, causing capital loss, reducing investment efficiency; ensuring the right progress and quality according to the set goals and planning and ensuring labor safety and environmental sanitation in project implementation.

With such efforts, I believe that this year we can complete the disbursement of 95% of the public investment capital plan.

Source: https://baodautu.vn/thach-thuc-giai-ngan-95-ke-hoach-von-d229022.html