Removing institutional bottlenecks and improving implementation capacity.

The capital of over 8.2 million billion VND will be a particularly important resource, ensuring the achievement of public investment targets in the 2026-2030 period; however, the challenge is that along with accelerating disbursement, it is necessary to ensure project quality and that every penny of budget capital is used effectively.

According to the plan, medium-term public investment capital for the period 2026-2030 will be invested in a focused and targeted manner, closely adhering to the tasks and action programs outlined in the Resolution of the 14th National Congress of the Party and Party Congresses at all levels. Key strategic infrastructure projects will be prioritized, expanding the development space at the regional, local, and national levels, ensuring harmonious development between regions.

Conduct a review and calculate the socio -economic effectiveness of proposed programs and projects for capital allocation, striving to reduce the Incremental Capital Output Ratio (ICOR) and improve the coordination between public and social investment; in particular, the number of projects in this phase will be reduced by at least 30% compared to the previous phase, coupled with strengthening discipline and order in public investment. For projects using the central budget, the allocation structure will allocate approximately 10% to transitional tasks and projects.

To ensure the achievement of public investment targets in the 2026-2030 period, many solutions have been proposed. Specifically, this involves transforming the management method of public investment projects based on efficiency. In this approach, the allocation, management, and use of capital must be based on an assessment of investment efficiency, the direct and indirect impacts of projects on economic growth and development, contributing to ensuring improved social welfare, and strengthening national defense and security capabilities.

Continue to improve the quality of institutional management; review and refine legal regulations to ensure a unified, effective, and efficient legal framework for management. Strengthen discipline and accountability in implementation. Ministries, central agencies, localities, and capital-using units must demonstrate the highest level of responsibility in organizing the implementation of the plan at each stage, from project selection, investment preparation, implementation organization, investment disbursement, and project completion settlement…

In a more detailed analysis of solutions to ensure the effective use of medium-term public investment capital for the period 2026-2030, at the recent First Session of the 16th National Assembly , several National Assembly deputies argued that the issue of slow allocation must be frankly acknowledged. In reality, for many years, capital has often been allocated late, putting significant pressure on localities in implementation. Even this year, approximately 70% of the capital has yet to be allocated in detail – this could lead to delays and reduced efficiency in resource utilization. Therefore, capital allocation should begin at the start of the year to ensure proactive management by localities and avoid the situation of "crowding" disbursements at the end of the year.

Besides the slow allocation, the lack of specific project lists has also been pointed out. Currently, only about 27% of the capital has been allocated to specific projects, while the remaining 73% has unclear projects. This lack of project lists will hinder investment preparation and directly affect disbursement progress. If not addressed promptly, achieving the high disbursement target from the first year of the plan will be difficult.

Specifically, from a macroeconomic perspective, the Economic and Financial Committee's review report recommends that the Government conduct a comprehensive and thorough assessment of the context and impacts of the global situation on the public investment plan for the 2026-2030 period in order to develop appropriate and effective response plans and scenarios. It also emphasizes the principle of focused investment, avoiding scattered spending, and prioritizing ongoing and unfinished projects due to lack of funding.

The slow disbursement of public investment funds and the uneven disbursement rates among ministries, sectors, and localities have been a reality for many years, indicating that there are still many "bottlenecks" ranging from the institutional system to the implementation capacity; therefore, the key issue to achieving the public investment disbursement target for 2026 as well as for the entire 2026-2030 period is... To be Continue to improve institutions, simplify procedures, enhance the quality of investment preparation, eliminate the mentality of hesitation and fear of making mistakes, and encourage a spirit of daring to think, daring to act, and daring to take responsibility for the common good.

Source: https://daibieunhandan.vn/thao-go-diem-nghen-the-che-va-nang-luc-thuc-thi-10415258.html