Continue to publicly disburse public investment capital, many key projects have low rates

VCN - The Ministry of Finance continues to publicize the disbursement rate of public investment capital plans of many key projects, notably that many projects and component projects have very low disbursement rates.
The Ring Road 4 Project - Hanoi Capital Region has a total disbursement rate of 16.7%. Illustrative photo.
The Ring Road 4 Project - Hanoi Capital Region has a total disbursement rate of 16.7%. Illustrative photo.

The total state budget capital plan for 2024 allocated to important national projects and works, key transport sector projects and inter-regional transport projects managed by localities is VND 144,937 billion, accounting for 21.7% of the total state budget capital plan assigned by the Prime Minister to ministries, central agencies and localities (VND 669,264 billion).

Of which, national and key transport sector projects are VND 112,207.7 billion; inter-regional transport projects are VND 32,730.4 billion. However, by the end of July 31, 2024, these projects have only disbursed VND 43,507.8 billion, reaching 29.7% of the assigned capital plan.

Specifically, key national projects and works in the transport sector disbursed VND 36,362.9 billion, reaching 32.4% of the plan.

4 projects (component projects) under the Ministry of Transport and projects managed by localities had a disbursement rate of over 50% of the plan. 16 projects had a disbursement rate of less than 15% of the plan (of which 3 projects disbursed 0%).

Transporting projects managed by localities disbursed VND 7,144.9 billion, reaching 21.8% of the plan. 13 projects had a disbursement rate of over 50% of the plan. 31 projects had a disbursement rate of less than 15% of the plan. Notably, 2 projects disbursed 0%.

In addition, according to Decision No. 1162/QD-TTg dated October 8, 2023, the Prime Minister has provided additional support to localities of VND 4,000 billion from the central budget reserve in 2023 to implement riverbank and coastal erosion projects in 13 provinces in the Mekong Delta.

However, according to the State Treasury's report, by July 31, 2024, these projects had only disbursed VND 1,397.75 billion, reaching 34.94% of the assigned central budget capital plan. Some localities have a disbursement rate of over 50%.

The Ministry of Finance said that the disbursement period for the central budget reserve capital in 2023 is more than 5 months away, but many localities have low disbursement rates, making it difficult to complete the disbursement plan by the end of the year.

Given the above situation, the Ministry of Finance requests the Ministry of Transport and the People's Committees of provinces and cities to seriously and drastically implement solutions to promote the disbursement of public investment capital in accordance with the Resolutions of the Government and the Official Dispatches of the Prime Minister.

In particular, it requires directing investors, departments, branches, contractors and relevant agencies to review and accelerate the progress of project implementation; speed up procedures for disbursing public investment capital for projects that have not been disbursed and have a disbursement rate lower than the national average as announced by the Ministry of Finance every month. At the same time, proactively review and transfer capital according to authority between projects that are unable to disburse or have slow disbursement to projects with better disbursement capacity and need additional capital.

The Ministry of Finance also requests the Ministry of Transport and the People's Committees of provinces and cities to direct the implementation of advance payment, recovery of advance payment, acceptance and payment of public investment capital in accordance with regulations and as soon as there is volume; strictly manage contract advances in accordance with regulations, ensure effective use, avoid loss and waste of allocated state budget funds, etc.

Regarding the Mekong Delta provinces, the Ministry of Finance requests that localities must complete projects in accordance with regulations by December 31, 2024 at the latest; organize implementation and disbursement of the 2023 central budget reserve fund, which will be supplemented by December 31, 2024 at the latest, in accordance with legal regulations.

In order for the Ministry of Transport and localities to promptly and proactively deploy tasks and solutions to direct and urge the progress of implementation and disbursement of public investment capital in 2024, striving to achieve results of over 95% of the plan assigned by the Prime Minister, the Ministry of Finance publicly disburses works and projects by July 31, 2024.

Specifically, the Ministry of Finance has publicly disclosed the disbursement rate of 38 important national works and projects, key to the transport sector. Notably, many projects and component projects have very low disbursement rates, below 10%. Even the disbursement rate is 0% such as the Hoa Binh - Moc Chau - Son La expressway; Tuyen Quang – Phu Tho expressway construction investment project connecting with Noi Bai – Lao Cai expressway, etc.

According to public data of 85 transporting projects managed by 61 localities, many projects have disbursed 0% such as: the project to build a road tunnel through Hoang Lien pass (Lai Chau); Nhon Trach district inter-port road project, phase 1 (Dong Nai); the project of the traffic route from Bai Goc port (Nam Phu Yen economic zone, Phu Yen province) connecting National Highway 1 to Van Phong economic zone (Khanh Hoa province), etc.

21 coastal, riverbabk erosion projects under the 2023 central budget reserve fund managed by the Mekong Delta provinces also have many projects with low disbursement rates such as: the project of the embankment to protect the residential area of Chau Phong commune (0.21%) and the project of the embankment to prevent landslides on the Bac Kenh Moi road (1.68%) of An Giang province; the disbursement of the project to invest in the construction of Nha Mat embankment from Nha Mat bridge to Nha Mat culvert, City. Bac Lieu (phase 1) reached 3.44% of the assigned capital plan, etc.

By Hương Dịu/Phuong Linh

Related News

Accelerate implementation of solutions to disburse public investment capital

Accelerate implementation of solutions to disburse public investment capital

VCN - Facing the impact of storm No. 3 on economic growth, many experts continue to believe that public investment will play a key role in economic recovery and growth for the entire year of 2024. However, there is only one quarter left until the end of 2024. The target of disbursing at least 95% of investment capital is facing many difficulties.
Public investment disbursement rate in 8 months reaches about 40.5% of the plan

Public investment disbursement rate in 8 months reaches about 40.5% of the plan

VCN - The low disbursement rates of some localities that have large disbursement plans, have greatly affected the overall disbursement rate of the whole country, the Ministry of Finance released.
Slow disbursement of public investment capital due to obstacles from policies

Slow disbursement of public investment capital due to obstacles from policies

VCN - Disbursement of public investment capital still has faced many obstacles, mainly focusing on mechanisms and policies related to specialized ministries.
More than VND241 trillion of public investment capital has been paid through the State Treasury

More than VND241 trillion of public investment capital has been paid through the State Treasury

VCN - The State Treasury has directed the State Treasury of provinces and cities to strengthen discipline and order, and enhance the sense of responsibility of civil servants in charge of controlling state budget expenditures.

Latest News

Stock market sees notable recovery amid ongoing uncertainties

Stock market sees notable recovery amid ongoing uncertainties

The VN-Index ended the week with impressive gains. However, analysts remain cautious about the sharp decline in liquidity and raise concerns about the sustainability of this upward momentum.
E-commerce tax collection in Hanoi increased by 265%

E-commerce tax collection in Hanoi increased by 265%

VCN - As of August 2024, the Hanoi Tax Department has built a tax management directory for e-commerce business activities including more than 75,000 organizations and individuals. In particular, there are more than 37,000 business households and more than 9,000 individuals.
Solving necessary and urgent issues in financial and budgetary sectors

Solving necessary and urgent issues in financial and budgetary sectors

VCN - Most of members of the Standing Committee of the National Assembly's Finance and Budgetary Committee agreed that it is necessary to study, amend and supplement laws in the financial sector in order to focus on immediately removing difficulties and institutional obstacles in the financial and budgetary sectors to improve the investment and business environment, and to attract maximum state and non-state resources to promote the country's socio-economic development.
Banks reduce profit expectations for 2024

Banks reduce profit expectations for 2024

A majority of banks have lowered their profit expectations for 2024.

More News

A new tax management approach needed to promote business household development

A new tax management approach needed to promote business household development

VCN - The Tax Department needs to change tax management methods to facilitate the business environment, promote the development of business households, ensure accurate, sufficient, and timely tax collection, and prevent budget losses.
Fifteen Vietnamese banks named in the global top 500 banking brands

Fifteen Vietnamese banks named in the global top 500 banking brands

Fifteen Vietnamese banks are named on the world’s top 500 banking brands, announced by the world’s leading brand valuation consultancy Brand Finance.
Digital infrastructure strategy approved

Digital infrastructure strategy approved

Permanent Deputy Prime Minister Nguyen Hoa Binh recently signed a decision approving the digital infrastructure by 2025 with a vision to 2030.
Drastically handle tax debts in the last months of the year

Drastically handle tax debts in the last months of the year

VCN – The General Department of Taxation has directed tax branches to closely supervise and control the implementation of enforcement measures to ensure the debt collection targets and limit new debts.
Realized social investment capital is estimated at VND2,417.2 trillion

Realized social investment capital is estimated at VND2,417.2 trillion

VCN - Lending interest rates tend to decrease, production for export has grown well; policies on tax exemption, reduction, extension and deferral continue to be implemented to support businesses and production establishments, promoting new investment and production expansion, increasing the attraction and implementation of total social investment capital.
State-owned banks struggle to increase capital

State-owned banks struggle to increase capital

While private joint stock commercial banks have increased capital significantly so far this year, the capital for State-owned commercial banks has remained stagnant.
State budget revenue reached 85.1% of estimate

State budget revenue reached 85.1% of estimate

VCN - The Ministry of Finance said that in the first 9 months of 2024, the total state budget revenue is estimated at 1,448.2 trillion VND, equal to 85.1% of the estimate, of which many revenue items have achieved good collection progress and growth compared to the same period in 2023. However, in recent months, budget revenue has begun to face difficulties, etc.
Budget expenditure in the first three quarters of 2024 reached about VND 1,256.3 trillion

Budget expenditure in the first three quarters of 2024 reached about VND 1,256.3 trillion

VCN - The Ministry of Finance said that in the first 9 months of 2024, the state budget spent about VND 1,256.3 trillion, equal to 59.3% of current apropriation, an increase of 1.4% over the same period in 2023.
Increasing institutional investors – improving quality of corporate bond market

Increasing institutional investors – improving quality of corporate bond market

VCN - The structure and quality of investors have been one of the limitations of the corporate bond market in recent times. To improve the quality of the market, increasing institutional investors and improving the quality of investors, including individual investors, is one of the solutions that have been implemented by management agencies, thereby building a sustainable corporate bond market.
Read More

Your care

Latest Most read
Stock market sees notable recovery amid ongoing uncertainties

Stock market sees notable recovery amid ongoing uncertainties

The VN-Index ended the week with impressive gains. However, analysts remain cautious about the sharp decline in liquidity and raise concerns about the sustainability of this upward momentum.
E-commerce tax collection in Hanoi increased by 265%

E-commerce tax collection in Hanoi increased by 265%

As of August 2024, the Hanoi Tax Department has built a tax management directory for e-commerce business activities including more than 75,000 organizations and individuals
Solving necessary and urgent issues in financial and budgetary sectors

Solving necessary and urgent issues in financial and budgetary sectors

VCN - Most of members of the Standing Committee of the National Assembly's Finance and Budgetary Committee agreed that it is necessary to study, amend and supplement laws in the financial sector in order to focus on immediately removing difficulties and i
Banks reduce profit expectations for 2024

Banks reduce profit expectations for 2024

A majority of banks have lowered their profit expectations for 2024.
A new tax management approach needed to promote business household development

A new tax management approach needed to promote business household development

VCN - The Tax Department needs to change tax management methods to facilitate the business environment, promote the development of business households, ensure accurate, sufficient, and timely tax collection, and prevent budget losses.
Mobile Version