Local State Treasuries have high investment disbursement rate

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Investment spending over the country was controlled at 7.1% of the plan

According to the latest report by the State Treasury, by the end of February, the State Treasury system controlled recurrent spending at VND 150,600 billion (amounting to 13.5% of the estimate) and investment and development spending at VND 32,051.2 billion (amounting to 7.1% of 2020 spending control plan assigned by the National Assembly and Government).

Motivated by state budget spending control, the State Treasury found that about 203 expenditures were not in accordance with regulations and requested submission of necessary procedures and refused payment of VND 1.1 billion for recurrent spending and VND 0.7 billion for investment development spending.

Particularly, for State budget spending control, the State Treasury has built and launched a spending control process through the State Treasury, ensuring that budget expenditures are in accordance with competence and in allocated budget scope, helping raise financial discipline and preventing outstanding debts.

As reported by localities, the investment disbursement has been focused from the beginning of the year. According to NinhBinh State Treasury, the public investment disbursement rate from the beginning of the year till the end of February 2020 was VND 1,137 billion, or 50% of the estimate. NinhBinh State Treasury said that the high disbursement rate was because that projects in 2020 which were transited from previous years had completed procedures, the disbursement in this year was quick.

Along with that, from the beginning of the year, the People’s Committee of NinhBinh province has closely and seriously guided allocation of public investment capital. Accordingly, the province has requested its departments and agencies to review and correctly determine capital needs, key tasks and not to allocate capital of annual plan to projects of which investment procedures have not been sufficient. Allocation and report on public investment plans to units was timely, creating conditions for units to proactively build implementation plans.

Or at Hung Yen province, as reported by the provincial State Treasury, from beginning of the year till the end of February, disbursed investment for capital construction controlled by the unit was VND 569.7 billion of VND 3,086.9 billion, equivalent to 18.5% of the plan. This figure is also high compared to the average rate nationwide.

Similarly, at Lai Chau, in 2020, Lai Chau State Treasury was assigned a public investment disbursement plan of more than VND 2,386 billion. Till the end of February 28, 2020, the unit disbursed VND 418 billion, reaching 185% of the plan. To gain this result, Lai Chau State Treasury has controlled investment spending, ensuring payment in accordance with projects and assigned capital plan and medium-term public investment plan described in the Law on public investment.

Advanced investment capital recovered

Although the first quarter of 2020 has not ended, the time for the State Treasury nationwide to disburse 2020 public investment capital plan is still quite long. However, this work has always been a "hot spot" that requires units to pay attention to fulfill their assigned estimates.

According to Hung Yen State Treasury, in order to fulfill the target of public investment disbursement, Hung Yen State Treasury will maintain the publicity of periodical disbursed data of local capital construction investment at the headquarters of the State Treasury. This helps the People's Committee at all levels, investors and related units promptly grasp the disbursement rate of capital construction investment in 2020 under the their management, introduce measures for guidance and implementation of the assigned capital plan, accelerating the disbursement progress of investment capital.

At the same time, Hung Yen State Treasury will actively urge investors to comply with the provisions on the recovery of advanced capital; coordinate with investors to inspect advanced capital to recover unused amounts or improperly used amounts; be responsible for inspecting and ensuring the recovery of all advanced capital upon payment for the completed volume reaching 80%.

Lai Chau State Treasury also said that in the future, the unit will continue to strictly follow regulations on disclosure of payment process, procedures and control time; guide and facilitate investors working at State treasury office; prohibitacts of harassment, delay and difficulty to investors in the capital disbursement process.

In addition to good control of public investment, Lai Chau State Treasury will continue to recover the advanced investment capital. Accordingly, Lai Chau State Treasury coordinated with Department of Planning and Investment, Department of Finance to advise the provincial People's Committee not to allocate capital for investors or contractors who implement projects with large advanced capital balance and beyond the described time. At the same time, the province has cut and transferredcapital for undisbursed capital plan of slow-deployed projects.