Public investment disbursement progress begins to accelerate

Disbursement of public investment capital in the first 4 months of 2025 is estimated to reach 14.32% of the plan.

The Ministry of Finance has just issued Official Dispatch No. 5587/BTC-DT reporting to the Prime Minister on the implementation of the public investment plan using the State budget for 3 months, estimated for 4 months of 2025.

Regarding the disbursement of planned capital in 2025, the Ministry of Finance said that the cumulative disbursement from the beginning of the year to March 31, 2025 was VND 80,306.8 billion, reaching 8.95% of the plan, reaching 9.72% of the plan assigned by the Prime Minister. Of which, the national target program (NTP) was VND 2,986.6 billion (reaching 13.6% of the plan assigned by the Prime Minister).

Estimated disbursement from the beginning of the year to April 30, 2025 is VND 128,512.9 billion, reaching 14.32% of the plan, reaching 15.56% of the plan assigned by the Prime Minister (in the same period of 2024, it reached 15.64% of the plan and reached 16.64% of the plan assigned by the Prime Minister). Of which, the National Target Program is VND 4,707.3 billion (reaching 21.43% of the plan assigned by the Prime Minister).

According to the Ministry of Finance, the estimated disbursement nationwide by the end of April reached 15.56% of the plan assigned by the Prime Minister, lower than the disbursement rate in the same period in 2024 (16.64%), of which the State budget capital rate reached 17.2%, higher than the same period in 2024 (16.56%). Compared to the disbursement rate nationwide in the first 3 months of the year, the disbursement progress has begun to accelerate, catching up with the progress compared to the same period last year (cumulative disbursement by the end of February reached 5.43%, by the end of March reached 9.72% of the plan assigned by the Prime Minister).

In the first 4 months of the year, 10/47 ministries, central agencies and 35/63 localities had an estimated disbursement rate compared to the plan assigned by the Prime Minister above the national average. Some ministries and central agencies had a disbursement rate of over 20% such as: Vietnam General Confederation of Labor (86.43%); Voice of Vietnam (73.82%); Vietnam Bank for Social Policies (41.16%); Ministry of Public Security (27.24%); Women's Union (20.66%) and localities with disbursement of over 30% such as: Phu Tho (44.39%); Lao Cai (43.45%); Thanh Hoa (39.147%); Ha Nam (38.44%); Bac Kan (32.61%); Ha Tinh (31.88%); Tuyen Quang (31.08%), Ha Giang (30.64%), Lam Dong (30.08%).

However, there are still many ministries, central and local agencies that have not disbursed (09 ministries, central agencies, including: Office of the President, Government Inspectorate, Vietnam Academy of Social Sciences, Ministry of Foreign Affairs, State Audit,...) or disbursed very low (15 ministries, central agencies disbursed less than 5% such as: Ministry of Science and Technology, Ministry of Foreign Affairs; Ministry of Health; Ministry of Culture, Sports and Tourism; Hanoi National University; Ho Chi Minh City National University,... and 12 localities disbursed less than 10% such as: Khanh Hoa; Cao Bang; Binh Duong, Dong Nai; An Giang, Soc Trang; Quang Tri...).

5 major difficulties hindering the disbursement of public investment capital

Although the disbursement of public investment capital has begun to make a breakthrough, according to a report from the Ministry of Finance, there are still many difficulties affecting the implementation progress, focusing on 5 major groups: difficulties and obstacles related to policy mechanisms; related to capital allocation; in implementation organization; difficulties in local budget revenue sources and difficulties related to the National Target Program.

Regarding difficulties related to capital allocation, the Ministry of Finance said that many ministries, branches and localities have not developed capital plans that are close to actual needs and implementation capabilities; have not been proactive in reviewing, preparing for approval of tasks, and completing investment procedures right from the budget and planning stages, leading to failure to fully allocate the plan assigned by the Prime Minister within the prescribed time limit.

These problems have greatly affected the disbursement rate of public investment capital in the first months of 2025 (as of the reporting time, there was about 27,861.8 billion VND, accounting for 3.37% of the plan assigned by the Prime Minister), in which, mainly the unallocated capital is due to projects that have not completed investment procedures and a certain amount of capital that is not needed and requires capital repayment or transfer to other projects in need.

Or the difficulty in implementation is related to the process of restructuring and organizing the apparatus. To be consistent with the apparatus structure after restructuring and streamlining, central and local agencies have to temporarily stop starting new projects or are in the process of reviewing to adjust the scale and scope of project investment, leading to not continuing to allocate capital to implement the project to avoid waste.

In addition, changes in responsibilities, authorities, and project management processes at the local level due to the failure to maintain the district level and new functional agencies after the arrangement and merger are also the reasons why the appraisal of feasibility study reports, appraisal of basic designs, appraisal of construction designs, payment and settlement work must be prolonged, affecting the site clearance work of central and local projects because district-level units are the key organizations implementing site clearance work...

Solutions to accelerate capital disbursement

To ensure that the disbursement rate of public investment capital in 2025 reaches the target of over 100% of the plan assigned by the Prime Minister, the Ministry of Finance proposes to implement a number of key recommendations and solutions as follows:

For the allocated capital, continue to resolutely implement tasks and solutions to promote the disbursement of public investment capital according to the direction and administration of the Government and the Prime Minister on urging the acceleration of the allocation and disbursement of public investment capital in 2025.

Regarding the amount of central government capital not yet allocated in detail after March 15, 2025: Implementing the direction in Resolution No. 77/NQ-CP dated April 10, 2025 of the Government, the Ministry of Finance has issued Document No. 4924/BTC-TH dated April 16, 2025 to the Prime Minister on the allocation of the central government capital public investment plan of ministries, central agencies and localities. Accordingly, the Ministry of Finance has submitted to the Prime Minister a proposal for handling the amount of capital not yet allocated in detail after March 15, 2025; at the same time, the Ministry of Finance is assigned to preside over and coordinate with relevant agencies to synthesize proposals to supplement the central government capital investment plan in 2025 of ministries, central agencies and localities, and report to the Government for submission to the National Assembly Standing Committee for consideration and decision to adjust the central government capital investment plan in 2025 according to regulations.

For ODA projects: It is recommended that the competent authorities and project owners closely follow the project implementation progress and project adjustment progress, promptly remove obstacles and difficulties in project implementation and disbursement, and direct the focus on promoting disbursement of projects that have completed investment procedures, bidding, and contract signing; coordinate with the Ministry of Finance to promptly discuss with donors in case of arising problems.

At the same time, draw experience in the organization and implementation work, especially for large-scale projects with complex technical requirements, spread across many localities, urgent construction time, difficult terrain and weather conditions, lack of raw materials..., it is necessary to strengthen inspection, supervision, clearly assign responsibilities, closely coordinate between levels and sectors to ensure scientific and effective work... according to the direction of the Prime Minister in Official Dispatch No. 673/TTg-CN dated September 5, 2024 on implementing key tasks to strive to complete 3,000km of expressway by the end of 2025.

Ministries, central and local agencies specifically report on problems and difficulties associated with each project and task in implementation such as: regarding institutions (clearly stating problems at points, clauses, Articles of the Law, Decree, Circular...), clearly identifying the problems in implementation organization (proposing investment policies, investment preparation, investment decisions, site clearance, bidding, payment and settlement...) and proposing tasks, solutions, and authority to handle problems.

Source: https://baodaknong.vn/tien-do-giai-ngan-dau-tu-cong-bat-dau-tang-toc-250908.html