Disbursement progress is still far from requirements.

The pressure to disburse public investment capital is weighing heavily on ministries, branches and localities when the amount of capital needed to be injected into the economy is still very large. Many economic experts believe that the speed of disbursement needs to be accelerated a lot.

The Bong Lau Bridge construction project in Hoa Lu Ward will be put into use in 2025, promoting the effectiveness of public investment. Photo: Duc Phuong/VNA

Disbursement progress is still far from the requirement.

There is less than 1 month left to close 2025 and less than 2 months left to complete the disbursement of all public investment capital for the year (deadline until January 31, 2026).

According to information from the Ministry of Finance on the afternoon of December 5, the disbursement of public investment capital from the beginning of the year to November 30 was VND 553,250.4 billion, reaching 60.6% of the plan assigned by the Prime Minister. The above figure compared to the same period in November 2024 is 2.4% higher in proportion and VND 155,729.8 billion in absolute number.

If not counting the additional plan assigned by the Prime Minister after September 30, 2025 and the additional implementation of Resolution No. 57-NQ/TW (VND 27,429.6 billion), the disbursement rate in the first 11 months of 2025 will reach 62.5% of the plan. Also, by the end of November 2025, the total detailed allocated capital is VND 1,039,467.1 billion. If not counting the plan for balancing the local budget assigned by the localities, the total allocated capital is VND 871,944.47 billion, reaching 95.5% of the plan assigned by the Prime Minister.

Meanwhile, 41,271.8 billion VND of central budget capital has not been allocated in detail to 11 ministries, central agencies and 26 localities, accounting for 4.5% of the plan assigned by the Prime Minister.

According to the Ministry of Finance, this result is still lower than the requirement and lower than the speed needed to complete the disbursement target for the whole year. Notably, there are still 25 ministries, branches and 13 localities with disbursement rates lower than the national average.

On the contrary, only a few units such as: Vietnam Development Bank, State Audit, Central Party Office and localities of Ninh Binh, Ha Tinh, Bac Ninh, Hai Phong, Phu Tho, Tay Ninh, Hanoi, Ho Chi Minh City... reached or exceeded the national average...

Still the same old problem but not completely resolved

Many experts believe that many reasons for slow disbursement have been raised from year to year and have become "inherent" in the implementation of public investment disbursement and will continue to repeat in 2025.

The first reason for the slow disbursement is the problem of site clearance. Currently, many large projects are still "lying dormant" because the locality has not handed over the site in time. This is also an issue that the Ministry of Construction has mentioned in its meetings, especially with traffic projects such as: Cho Moi - Bac Kan, La Son - Hoa Lien, National Highway 4B, National Highway 8C Ha Tinh...

Another reason, according to many economic experts, is slow investment procedures and large backlogs. For example, at the Ministry of Construction, up to now, the total public investment capital that the Ministry has assigned in 2025 is VND 80,302 billion (not including VND 6,970 billion of the completed spending task that is being reported to competent authorities). However, by early November 2025, the disbursement value of the Ministry had only reached 51% of the plan, about VND 5,634 billion behind the registration of investors.

"This delay is due to a large number of outstanding payment settlement documents, causing the project's progress to be prolonged and capital cannot be disbursed on time," said a representative of the Ministry of Finance.

Next are problems with land prices, materials, land procedures and capacity limitations of some investors and management boards. Many project management boards do not have time to adjust designs and estimates, or do not proactively monitor the site, resulting in low construction output and insufficient basis for capital payment.

To speed up the disbursement of public investment capital, the Ministry of Finance proposed to further promote the role of heads of ministries, agencies, heads of Party committees and local authorities, promptly remove difficulties and obstacles according to their authority; assign specific leaders and officers in charge of each project, and individualize responsibilities as a basis for evaluating task performance results.

“Urgently overcome identified shortcomings and limitations, especially in site clearance; request ministries and agencies to continue reviewing and synthesizing problems in policies and mechanisms related to public investment disbursement and propose competent authorities to consider and promptly resolve them,” the Ministry of Finance said on the afternoon of December 5.

Source: https://baotintuc.vn/kinh-te/tien-do-giai-ngan-van-con-cach-xa-so-voi-yeu-cau-20251205170540417.htm