Prime Minister: With the same policy mechanism, why is public investment good in some places and not in others?

On the morning of July 16, Prime Minister Pham Minh Chinh chaired a national online conference of the Government Standing Committee on promoting public investment in 2024.

In his opening speech, Prime Minister Pham Minh Chinh emphasized that 2024 is an extremely important year, a year of acceleration and breakthrough to successfully achieve the goals of the term. Among them, there is a goal of having 3,000 km of expressway by 2025.

Prime Minister Pham Minh Chinh chaired the public investment conference on the morning of July 16. NHAT BAC

The Head of Government emphasized the particularly important role of public investment, creating the foundation for socio -economic infrastructure, contributing to clearing bottlenecks, creating new momentum and development space; strengthening connectivity, reducing logistics costs; and enhancing local, regional and national competitiveness.

In addition, public investment also plays the role of "seed capital" to attract private investment, leading to the growth of social investment capital, boosting production and business. Since the beginning of the year, the Prime Minister has issued 2 directives, 4 telegrams and many documents directing the promotion of public investment disbursement. In addition, 5 working groups promoting the disbursement of public investment capital of the Government have worked with localities to inspect and urge the disbursement of public investment capital. Last weekend, the Prime Minister directly chaired a meeting to resolve difficulties and problems for key transport projects in the southern region. However, the Prime Minister also pointed out that currently, there is 29,900 billion VND that has not been allocated in detail. The disbursement of public investment capital in the first 6 months of 2024 reached 29.39%, lower than the same period in 2023 at 30.49%. Of which, 60/107 ministries, agencies and localities have disbursement rates below the national average, 32/44 ministries, central agencies and 28/63 localities. The disbursement rate of important national projects, key projects in the transport sector, inter-regional transport projects managed by localities and projects using ODA capital is still low. The disbursement rate of local budget capital reached 28.77%, lower than the same period (32.76%). The Prime Minister said that the conference needs to clarify and answer important questions, why is the disbursement of investment capital slow despite the attention of leaders and directions? This is an issue that has been raised for many years, with resources but not implemented. To what extent have the difficulties, obstacles and "bottlenecks" that were pointed out before been resolved? Why do some places do well with the same mechanism and policy, while others do not? What valuable experiences, lessons do the places that do well have? The Prime Minister also emphasized how to further spread the spirit of "eating quickly, sleeping urgently, with a strong will", working "3 shifts, 4 shifts" in all projects, works, all ministries, branches, and localities, creating momentum and strong development momentum across the country. According to the report of the Ministry of Planning and Investment, the total state budget investment plan in 2024 resolved by the National Assembly to allocate to ministries, central agencies, and localities is more than 669,264 billion VND. Of this, the central budget capital is more than 236,915 billion VND (domestic capital is more than 216,915 billion VND, foreign capital is 20,000 billion VND), local budget capital is more than 432,348 billion VND. As of July 10, ministries, central agencies and localities have allocated and assigned detailed state budget investment plans for 2024 for the list of tasks and projects, reaching 95.5% of the plan assigned by the Prime Minister. Source: https://thanhnien.vn/thu-tuong-cung-co-che-chinh-sach-vi-sao-noi-dau-tu-cong-tot-noi-khong-185240716091125318.htm