Disbursed investment capital higher than the same period last year

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Although the disbursement rate in the first two months of 2020 is higher than the same period in 2019, this rate is still low because in the first two months of the year, most of the ministries, sectors and localities were focusing on disbursing the remaining capital plans from 2019 and developingthe plan to allocate capital and make expenditure estimates for projects subject to capital allocation and due to the impact of the coronavirus epidemic.

The impact of the Covid-19 epidemic is also a cause of some contractors being delayed in construction. Also, in the first months of the year, investment activities focused mainly on the construction of works from last year.

In the proposal to the Government, the Ministry of Finance proposes to central ministries, sectors and local agencies, investors, project management boards to urgently complete investment procedures according to the provisions of the proposed projects, which expect using capital fromgeneral provisions for medium-term public investment plan of the central budget in the 2016-2020 period to send to the Ministry of Planning and Investment for synthesizing and reporting to the Prime Minister.

Additionally, to update allocated budget estimates to TABMIS, to urgently carry out the procedures for opening TABMIS codes for new projects in accordance with regulations; to focus on directing and speeding up the disbursement of public investment capital in 2020 in detail for each month for projects as a basis for management; to proactively inspect and supervise the implementation of the plan, to actively review and remove difficulties, problems and cases beyond the competence to report to the Prime Minister for consideration and handling.

The Ministry of Finance also proposes to accelerate and actively implement and remove difficulties in documenting and appraising technical designs; bid solicitation, project bidding; site clearance work; resolutely adjust capital plans of projects that are not implemented or slow to be deployed to projects with high disbursement; urgently work with the State Treasury on procedures to extend projects that have not fully disbursed their plans for 2019, expected to be extended to 2020; recover capital advanced in advance as soon as the annual capital plan is assigned; take measures to handle the unexpired past-due contract balance.

Particularly, for ODA projects and concessional loans, the Ministry of Finance shall propose the managing agencies in collaboration with related agencies to solve problems related to procurement, tax and site clearance; urge project owners to promptly complete documents to sign re-lending contracts; immediately carry out the procedures for expenditure control and send capital withdrawal applications so that the Ministry of Finance can promptly send them to the donors when there is finished work; closely monitor the progress of each project to propose timely and appropriate transfer and adjustment of capital plans.

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At the same time, to seriously make monthly reports on the disbursement of investment capital from the State budget and other public investment capital to the Prime Minister and the Ministry of Finance and Ministry of Planning and Investment within the prescribed time.