12 agencies and 16 localities have not yet allocated public investment plans for 2022

VCN – The Government has requested the roles and responsibilities of the heads of ministries, central and local agencies be improved in directing and distributing public investment capital.
Necessary to direct drastically implementation of foreign loan disbursement from now until the end of the year Necessary to direct drastically implementation of foreign loan disbursement from now until the end of the year
12 agencies and 16 localities have not yet allocated public investment plans for 2022
Illustrative photo. Internet

Regarding the allocation and disbursement of the five-month state budget investment plan in 2022, a report of the Ministry of Planning and Investment showed that ministries, central agencies and localities have actively implemented the State budget investment plan in 2022 and provided specific solutions to promote disbursement of public investment capital.

As of May 31, the total capital of ministries, central agencies and localities allocated to projects that are eligible for disbursement in 2022 meets 92. 9% of the capital plan allocated by the Prime Minister. The disbursement is expected at 22.37% of the plan; 41 of 51 ministries, central agencies and 18 of 63 localities show low disbursement rates.

In May 2022, six working groups has removed difficulties and expedited disbursement of public investment capital in 2022, and promptly pointed out the shortcomings, limitations, and obstacles in the implementation and in regulations, as well as identifying the causes of limitations and proposing solutions to overcome them.

In order to expedite the disbursement of the State budget investment plan and strive to disburse 100% of the assigned plan, under Resolution 77/NQ-CP of the regular Government meeting in May 2022, the Government requested ministries, central agencies and localities to drastically implement the proposed tasks and solutions.

Accordingly, the Government ordered a review and clarification onthe causes and responsibilities for 12 ministries, central agencies, and 16 localities that have not yet allocated all investment plans in 2022 until May 31, and five central agencies that have not disbursed, as reported by the Ministry of Planning and Investment.

The Government assigned the Ministry of Planning and Investment to list the concerned ministries, central and local agencies on the National Information System on Public Investment and the Ministry's website. These ministries, central and local agencies must report to the ministry and Government at the Regular Government Meeting in June 2022.

The Government also asked for the roles and responsibilities of the heads of ministries, central and local agencies in the disbursement of public investment capital. The heads must direct the removal of difficulties and problems related to land and natural resources; review and finalize mechanisms, policies and laws on public investment, land, construction and related laws towards decentralization and streamlining of procedures; review and transfer capital investment plans from slow disbursement projects to good disbursement projects; report disbursement results as well as investment efficiency; and strengthen inspection and examination, tighten discipline and strictly handle violations.

The Government requires units to quickly and effectively comply with the Prime Minister's Decisions on allocating the central budget capital investment plan for the 2021-2025 to localities and the central budget estimate in 2022 for implementation of three National Target Programs.

The Government requested units do not revise down the medium-term public investment capital plan for 2021-2025 of ministries, central agencies and localities corresponding to the undisbursed planned capital in 2021 and the deadline for implementation and disbursement and the estimate cancellation in accordance with the Law on State Budget must not be extended.

Ministries, central agencies and localities also are requested to re-allocate the central budget capital plan for 2022 and subsequent years equivalent to the amount of capital that has not been disbursed by the end of 2021, whose estimates have been canceled for projects to ensure the sufficient allocation according to the assigned medium-term public investment capital plan.

By Huong Diu/Ngoc Loan

Related News

Ensure savings and prevent losses in disbursement of public investment

Ensure savings and prevent losses in disbursement of public investment

VCN - The practice of thrift and combating waste in the management and use of public investment is one of key tasks in the program of thrift practice and waste combat in 2024 of the Ministry of Finance.
Improving legal framework, ensuring accessibility to green bonds

Improving legal framework, ensuring accessibility to green bonds

VCN - This is the recommendation of Mr. Nguyen Tung Anh (photo), Head of Credit Risk Research and Sustainable Financial Services (FiinRatings) in an interview with Customs Magazine reporters about green bond market development in Viet Nam.
Businesses manage to relieve cash flow pressure

Businesses manage to relieve cash flow pressure

VCN - In early 2024, positive signs of the economy have returned. Exports grow; orders gradually come to the business community. However, businesses are still facing many difficulties and challenges, impacted by the decline of the world economy... Especially the pressure on capital for production and business activities was recovered and stabilized.
Mechanisms for bolstering "bolder" and more efficient credit flow

Mechanisms for bolstering "bolder" and more efficient credit flow

VCN - Banks are actively channeling credit towards the manufacturing and business sectors, always standing by to offer loans to enterprises. However, this endeavor requires additional conditions as well as coherent support from the broader economy to augment the "boldness" and efficacy of these capital flows.

Latest News

Old loans must endure higher interest rates temporarily: central bank

Old loans must endure higher interest rates temporarily: central bank

The average lending interest rate for new loans by commercial banks is reported at around 6.4% per year, a decrease of 0.7 percentage point per year compared to the end of last year. However, borrowers with loans issued before the latest rate adjustment still must pay higher rates, according to the State Bank of Vietnam (SBV).
State-owned enterprises flourished

State-owned enterprises flourished

VCN - The production and business situation in the first quarter of 2024 of the state-owned enterprise sector continues to have many bright spots with many financial targets completed or exceeding the set plan. This is the premise for positive business results in the second quarter and the whole year 2024.
Forum discusses support for women-owned firms ​to join supply chains

Forum discusses support for women-owned firms ​to join supply chains

A forum on supporting women-owned businesses to join supply chains through sustainable development tools took place in Hanoi on April 17.
Implementing unprecedented fiscal policies to actively support people and businesses

Implementing unprecedented fiscal policies to actively support people and businesses

VCN - Implementing fiscal policies to support the economy, the Ministry of Finance has advised and offered many unprecedented solutions to reduce taxes, fees and charges, thereby supporting people and businesses to overcome difficulties, restore production and business. According to assessments, in 2024 fiscal policy will continue to be a positive highlight for the economy.

More News

Foreign investors net sell in Vietnamese market, banking sector attracts interest

Foreign investors net sell in Vietnamese market, banking sector attracts interest

According to BSC, foreign investors sold a net total of VNĐ11.55 trillion across all three exchanges in the first three months of 2024, equivalent to 50.62 per cent of the total net selling value in 2023. The selling pressure came from active funds and ETFs, resulting in a continued net withdrawal state and exerting pressure on the market.
Banks record positive business indicators in Q1 2024

Banks record positive business indicators in Q1 2024

According to experts, the prosperity of the banking industry in the period came from many supporting factors, including favourable policies to credit growth.
The finance sector focuses on perfecting institutions, ensuring financial discipline, and budgetary rigor

The finance sector focuses on perfecting institutions, ensuring financial discipline, and budgetary rigor

VCN- In the document sent to the Ministry of Planning and Investment (MPI) regarding the implementation of Resolution No. 01/NQ-CP in the field of state finance and budget in March 2024, the Ministry of Finance stated that it actively implemented projects to build and improve institutions, ensuring the balance of the state budget and stability in the financial market and prices.
IASB recommends Vietnam prepare infrastructure to apply IFRS

IASB recommends Vietnam prepare infrastructure to apply IFRS

VCN - Applying “International Financial Reporting Standards (IFRS) will help businesses improve the quality of financial reporting and enhance the quality of explanation, but there are still many difficulties in transformation.
Strong decentralization for ministries, branches and localities to manage and use electricity projects

Strong decentralization for ministries, branches and localities to manage and use electricity projects

VCN - Responding to petitions from voters in Lao Cai province related to problems in handing over public assets such as power grid projects to the electricity industry for management, the Ministry of Finance said that it has submitted to the Government to promulgate Decree No. 02. /2024/ND-CP on transferring power projects as public assets to Vietnam Electricity Group (EVN).
The Tax sector’s revenue collection reached 33% of current appropriation

The Tax sector’s revenue collection reached 33% of current appropriation

In the first quarter of the year, total revenue managed by Tax agency was estimated at VND490,196 billion, equal to 116.9% of the current appropriation in the first quarter, equivalent to 33% of the current appropriation, an increase of 10.9% over the same period in 2023
Savings interest rates begin rising amid slowing bank deposits

Savings interest rates begin rising amid slowing bank deposits

While some commercial banks continue lowering deposit interest rates, others are increasing the rates, particularly for term deposits of 12 months or longer.
Ministry of Finance conducts general verification of public assets

Ministry of Finance conducts general verification of public assets

VCN - The Ministry of Finance issued Decision No.798/QĐ-BTC on the plan for implementing Decision No.213/QĐ-TTg of the Prime Minister approving the scheme on general verification of public assets at agencies, organizations, and units as well as infrastructures that are invested and managed by the State.
Removing bottlenecks to develop the green bond market

Removing bottlenecks to develop the green bond market

VCN - Currently, there are still many bottlenecks for the development of the green finance market and green bonds. Therefore, solutions are needed to increase resources for businesses and the economy.
Read More

Your care

Latest Most read
Old loans must endure higher interest rates temporarily: central bank

Old loans must endure higher interest rates temporarily: central bank

The average lending interest rate for new loans by commercial banks is reported at around 6.4% per year, a decrease of 0.7 percentage point per year compared to the end of last year. However, borrowers with loans issued before the latest rate adjustment still must pay higher rates, according to the State Bank of Vietnam (SBV).
State-owned enterprises flourished

State-owned enterprises flourished

VCN - The production and business situation in the first quarter of 2024 of the state-owned enterprise sector continues to have many bright spots with many financial targets completed or exceeding the set plan. This is the premise for positive business re
Forum discusses support for women-owned firms ​to join supply chains

Forum discusses support for women-owned firms ​to join supply chains

A forum on supporting women-owned businesses to join supply chains through sustainable development tools took place in Hanoi on April 17.
Ensure savings and prevent losses in disbursement of public investment

Ensure savings and prevent losses in disbursement of public investment

VCN - According to the Ministry of Finance's report, as of the end of March, the total unallocated investment is VND25,654.7 billion, accounting for 3.9% of the target assigned by the Prime Minister.
Implementing unprecedented fiscal policies to actively support people and businesses

Implementing unprecedented fiscal policies to actively support people and businesses

VCN - Implementing fiscal policies to support the economy, the Ministry of Finance has advised and offered many unprecedented solutions to reduce taxes, fees and charges, thereby supporting people and businesses to overcome difficulties, restore productio
Mobile Version