National conference on stepping up public investment disbursement

While chairing a national conference on July 16 on stepping up public investment disbursement, Prime Minister Pham Minh Chinh asked for breakthrough solutions to achieve the target of 95% in the disbursement rate of public investment capital in 2024.

According to the PM, the disbursement results have yet to meet requirements, and so far, 33 out of 44 ministries and central agencies as well as 28 out of 63 localities have reported disbursement rates lower than the country’s average.

The PM said  that the Government has formed five working groups and sent 26 working teams to localities for removing difficulties and promoting socio-economic development, including speeding up the disbursement of public investment capital and the implementation of the three national target programs.

He asked the conference to analyze the reasons behind the situation, especially difficulties in institution and legal regulations as well as leadership, management, direction and implementation activities.

He suggested the revoke and transfer of capital from stagnant projects to effective ones, and taking disbursement of public investment capital as a criterion for evaluating the performance of officials, especially leadership officials.

According to the Ministry of Planning and Investment, to date, the PM has issued two directives, four dispatches and many documents directing the speeding up of public investment capital.

As of July 10, ministries, central agencies and localities had allocated VND639.4 trillion  ($25.17 billion ) to specific works and projects, reaching 95.5% of the plan set by the PM. As of June 30, more than VND196.7 trillion ($7.74 billion) had been disbursed, equivalent to 29.39% of the task assigned by the PM.

The ministry said that 11 out of 44 ministries and central agencies and 35 localities have shown disbursement rates higher than the country’s average.