Key factors for rapid disbursement of public investment capital

According to the report of the Ministry of Finance, it is estimated that from the beginning of the year to October 23, 2025, the actual disbursed capital is 464,828 billion VND, reaching 51.7% of the plan assigned by the Prime Minister; of which, there are 9 ministries, central agencies and 16 localities with disbursement rates reaching the national average.

The road leading to the bridge on the Thieu Quang commune side ( Thanh Hoa ) of the Xuan Quang Bridge Sub-project (the project connecting National Highway 1 with National Highway 45) from Km5+250 of Hoang Giang commune to Km14+603 of Thieu Quang commune, with a total investment of 564 billion VND, using the state budget, has just been completed and put into use in February 2025. Photo: Vu Sinh/VNA

However, there are 29 ministries, central agencies and 16 localities with disbursement rates below the national average. From the experience of localities with high disbursement rates such as: Ha Tinh (111.9%), Ninh Binh (94.8%), Thanh Hoa (90.1%), Thai Nguyen (80%), Lao Cai (79.5%) shows that, to complete the target, the strong and close direction of the leaders of ministries, branches and localities in promptly removing difficulties and obstacles, urging progress and responsibility of investors and contractors is the key factor.

Ninh Binh is one of the localities with a high disbursement rate, the determination of local leaders plays a very important role. Mr. Pham Quang Ngoc, Chairman of Ninh Binh Provincial People's Committee, said that to promote disbursement, Ninh Binh focuses on closely managing the progress of each project, when allocating capital, it also applies the principle that units that do well will be allocated capital faster, if they are delayed, the capital will be transferred. Therefore, up to now, Ninh Binh has disbursed 95% of the total capital plan assigned of more than 28,500 billion VND.

In order to enhance discipline, order, speed up the implementation and disbursement of public investment capital, on October 16, 2025, the Prime Minister issued Decision No. 2773/QD-TTg to adjust the central budget capital plan from ministries and localities with low disbursement to ministries and localities in need of additional capital to speed up the implementation progress.

When discussing with localities about building public investment plans, Deputy Minister of Finance Tran Quoc Phuong also always emphasized that when building plans, ministries, branches and localities need to carefully review the project preparation capacity, implementation capacity and capital disbursement, to avoid the situation of building estimates that exceed implementation capacity and then having to ask for adjustments to reduce the plan.

On the local side, Chairman of Can Tho City People's Committee Truong Canh Tuyen said that up to now, the disbursement of public investment capital in the area has reached about 41% of the total public investment capital in 2025 of over 29,000 billion VND. The main reason is that site clearance still faces many difficulties after the merger of the new Can Tho city, including many objective reasons from departments, branches to communes and wards.

Chairman of Can Tho City People's Committee Truong Canh Tuyen said that the city is focusing on many solutions to remove difficulties, promote site clearance, speed up disbursement of public investment capital in 2025, and strive to achieve a disbursement rate of over 95% from now until the end of the year.

The Chairman of the People's Committee of Can Tho City requested that the Board of Directors of the Management Board of Investment Projects for Construction of Traffic and Agricultural Works of Can Tho City create solidarity within the agency, focusing on the task of disbursing public investment capital. In addition, review and arrange capital sources for traffic works, prioritizing urgent works that are not stuck in site clearance. Develop a plan for each project, including assessing the construction progress, contractor capacity, responsible staff, progress, etc.

For Hanoi, at the recent conference on basic construction investment work of the whole city in the fourth quarter of 2025, Chairman of the City People's Committee Tran Sy Thanh agreed with the proposal of the Department of Finance to launch a 75-day peak emulation campaign from early November 2025 to mid-January 2026. Accordingly, Hanoi will mobilize the entire political system to participate, take drastic actions, and strive to complete 100% of the public investment disbursement plan in 2025.

On the other hand, Hanoi requires departments, branches, communes and wards to deploy 8 key groups of solutions, including making detailed weekly disbursement plans, monitoring the progress of each project; thoroughly handling shortcomings in site clearance; reviewing and flexibly adjusting capital plans between projects; promoting the application of technology and digital transformation in public investment management; strengthening administrative discipline and order; improving coordination efficiency between levels and branches; early preparation of public investment capital plans for 2026; linking the responsibility of leaders with actual disbursement results.

In addition to local solutions, the Ministry of Finance also recommends that ministries, branches and localities need to have solutions to arrange and ensure the allocation of qualified staff to meet the requirements in managing and implementing projects in localities, especially in remote areas. In addition, focus on accelerating the progress of key projects and important national projects. It is known that the Ministry of Agriculture and Environment is urgently completing the submission to competent authorities to issue a resolution to remove obstacles in the implementation of the 2024 Land Law for urgent public investment projects, contributing to accelerating the progress of projects.

At the recent online conference on promoting public investment disbursement, the Prime Minister directed to resolutely disburse public investment capital, avoiding the situation of "hot above, cold below" or "very hot during the meeting, but cold after the meeting".

According to the Prime Minister's direction, it is necessary to urgently review and evaluate the disbursement situation for each project; develop specific disbursement progress for each week, month, and quarter and have specific and appropriate solutions to promote disbursement to achieve the set target; at the same time, regularly review and promptly adjust capital from projects with slow disbursement or no disbursement capacity to projects with good disbursement capacity and need for additional capital.

Besides solutions related to institutions and policies that need to be removed, the efforts of localities are a decisive factor in the rate of public investment disbursement.

According to the Ministry of Finance, the total public investment plan assigned for 2025 to October 23, 2025 is VND 1,060,631.4 billion, including the plan assigned by the Prime Minister (VND 899,180.2 billion) and the increased local balanced capital plan (VND 161,451.2 billion). The total allocated capital is VND 1,032,492.8 billion. If not counting the increased local budget balanced capital plans assigned by localities, the total allocated capital is VND 871,041.6 billion, reaching 96.9% of the capital plan assigned by the Prime Minister.

From the beginning of the year to October 23, 2025, the actual disbursed capital was VND 464,828 billion, reaching 51.7% of the plan assigned by the Prime Minister, of which 9 ministries, central agencies and 16 localities had disbursement rates reaching the national average. However, 29 ministries, central agencies and 16 localities had disbursement rates below the national average.

In the list of disbursements below the average rate, there are many units assigned large capital plans, such as: Ministry of Construction disbursed 42% of the capital plan of 82,032 billion VND; Ministry of Agriculture and Environment disbursed 40.8% of the plan of 20,799 billion VND; Ho Chi Minh City with the largest capital plan in the country of 120,303 billion VND, disbursed 52.3%; Hanoi achieved 50.6% of the capital plan of 87,693 billion VND; Hung Yen achieved 51.2% of the plan of 40,443 billion VND. Localities such as Can Tho, An Giang, Lam Dong, Vinh Long, Da Nang, Khanh Hoa with capital plans assigned from 16,000 - 29,000 billion VND, are all disbursing less than 50% of the capital plan.

The Ministry of Finance said that, through understanding the situation of project implementation, most of the difficulties and problems are under the authority of the ministries and localities assigned as the managing agencies and project investors. Along with that, the investment preparation work and project readiness have not been guaranteed in time, leading to the situation of capital waiting for projects, complicated and prolonged procedures, and inflexible capital adjustment mechanisms... Not to mention, there are also issues related to the fear of mistakes and responsibility of a number of officials and investors, affecting the disbursement progress and the efficiency of using public investment capital...

Source: https://baotintuc.vn/kinh-te/yeu-to-then-chot-de-giai-ngan-nhanh-von-dau-tu-cong-20251029160820518.htm