Accelerate disbursement from solutions of Treasury system

VCN - One of the nine key tasks set by the State Treasury system in 2024 is to strictly control payment in compliance with the law and to strengthen coordination with relevant units to promptly remove problems and speed up the disbursement of public investment capital.
Prioritizing the allocation of public investment capital Prioritizing the allocation of public investment capital
The State Treasury implements nine key tasks in 2024 The State Treasury implements nine key tasks in 2024
Public investment - Expectations from key transportation projects Public investment - Expectations from key transportation projects
The State Treasury aims to effectively perform the task of payment control. Illustrative photo: Hung Yen State Treasury
The State Treasury aims to effectively perform the task of payment control. Illustrative photo: Hung Yen State Treasury

Strengthening coordination and accelerating disbursement progress

According to the latest report of the State Treasury, by the end of January 2024, the investment capital disbursed through the State Treasury under the 2023 plan is VND638,315.9 billion, equal to 96.2% of the assigned plan.

Regarding the 2024 plan, as of the end of January, the expected disbursed investment is VND16,889.1 billion, equal to 2.6% of the plan assigned by the Prime Minister (VND656,144.5 billion), equal to 4.5% of the capital plan assigned by the Prime Minister and the Provincial People's Committee (VND 687,309.4 billion).

Also according to the State Treasury, by the end of January 31, 2024, the 2024 spending estimates for development and investment of ministries, central and local agencies updated on the Treasury and Budget Management Information System (TABMIS) reached 60.8% of the estimate assigned by the National Assembly.

At local State Treasuries, coordination and acceleration of disbursement of public investment capital have also been focused, resulting in many positive results.

At Dien Bien State Treasury, the payment for capital construction investment under the 2023 plan from the central budget reached 97.71% and from local budget reached 76.47%. In January 2024, the payment for capital construction investment under the 2024 from central budget capital reached 8.76% and from local budget capital reached 3.86%.

It can be seen that, from the beginning of the year, the State Treasury has issued many instructions related to accelerating public investment disbursement. According to Mr. Tran Manh Ha, Director of the Department of Expenditure Control, State Treasury, in 2024, the State Treasury system will strengthen the implementation of public investment procedures through online public service portals as well as increase electronization and digitization. Currently, the State Treasury is coordinating with the Ministry of Planning and Investment and relevant ministries and agencies to share data and develop an electronic bidding system, digital signing, electronic contracts...

In addition, the State Treasury has built a remote monitoring system. Accordingly, based on the results of supervision, State Treasury leaders at all levels can check and monitor the status of handling payment control documents of each State Treasury unit from the stage of receiving documents to processing them, thereby assessing and ranking units to improve the sense of responsibility of transactors in the process of payment control, contributing to speeding up the disbursement of public investment capital.

Helping solve problems and strictly controlling payment

The 2024 key plan of the local State Treasuries also clearly states solutions related to public investment. For Hung Yen State Treasury, one of the seven key tasks set for 2024 is to continue to tighten state budget financial discipline and strictly manage state budget revenues and expenditures. At the same time, closely following the instructions of the Ministry of Finance, the State Treasury and the Provincial People's Committee in budget management and administration; and perform well the task of payment control.

For the Quang Nam State Treasury, one of the key tasks in 2024 is to strive to complete the state budget revenue and expenditure estimates for 2024; strictly control budget payment in compliance with the law; strive to achieve a disbursement rate of capital construction investment higher than the national average...

In Ninh Thuan, in 2023, the disbursement rate of the 2023 capital plan and previous years that is allowed to be extended reaches 93.5%. This result has not reached the set target of 95% or more, so the State Treasury of Ninh Thuan province has begun to speed up the disbursement of public investment from the beginning of 2024.

In particular, units at the State Treasury of Ninh Thuan proactively work with local general advisory agencies in disbursement management according to plans and announced capital levels, contributing to completely resolving difficulties and obstacles, and not hindering the management, disbursement, and recovery of advance public investment capital. In addition, treasury units are also required to strengthen coordination with investors by closely following and urging them to prepare payment documents when there is completed volume t from the first months of the year, focusing on classification, urging investors to send payment documents for completed volumes of transitional projects, completed projects, and final settlement projects.

Many units in the national State Treasury system said they have implemented solutions to further improve transaction quality, process documents on schedule and ahead of schedule, as well as strengthen the management of advance capital and recover advance capital. Treasury units also promptly organize discussions and exchanges with investors and project management boards to remove difficulties and obstacles, contributing to speeding up disbursement progress of public investment capital in 2024.

By Huong Diu/ Huyen Trang

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