Localities propose to remove bottlenecks in disbursement of public investment
![]() |
Disbursement of public investment is the driving force of economic growth in 2023. Photo: Internet |
Decentralizing powers to localities
In 2022, Ho Chi Minh City was allocated a capital of VND54,000 billion, but the City's balancing capacity was VND37,000 billion. As of January 31, 2023, the City disbursed VND26,636 billion, meeting 71.3% of the target. Although the City did not achieve the target of 95%, it saw a year-on-year increase of 35% to VND6,900 billion.
In 2023, the City is allocated VND70,000 billion, including VND16,500billion of the central government capital and VND55,200 billion of the local government capital.
According to the HCM City People's Committee Chairman Phan Van Mai, the City has allocated 100% of central and local capital and VND26,000 billion for unfinished projects. Currently, projects are eligible for allocating capital worth VND14,000 billion and four remaining projects are valued at VND12,000 billion. The City will urgently complete and allocate 100% of the local capital at the end of March.
The city government held a conference to review the results of investment disbursement in 2022 and orientation in 2023, determined the responsibilities of the investor and the Department of Planning and Investment, raised difficulties and shortcomings, especially procedures for coordinating with other sectors, procedures for site clearance. As a result, the City determined that project site clearance will be implemented in the first half of this year.
The City has also improved working teams, including teams of site clearance, teams of large capital projects, ODA teams, documents, regulations, action plans and specific directions for each project.
In 2023, Hanoi City has allocated nearly VND47,000 billion of public investment and assigned main tasks. The City also inspected the public investment, inspected the results in 2022 and prepared for 2023. As a result, by the end of February 2023, Hanoi disbursed over VND3,600 billion, meeting 5.5% of the plan.
"In terms of difficulties and obstacles, there are many technical difficulties, project processes and decentralization. Therefore, we hope that if the law is not revised, the decrees of the Government and the National Assembly will be issued to decentralize powers to localities. Therefore, it is proposed that the Prime Minister review and decentralize power to localities to reduce obstacles," said the Hanoi People's Committee Chairman, Tran Sy Thanh.
According to the Chairman of the Hanoi People's Committee, not only Hanoi but also other provinces and cities face problems related to capital for investors' approval. In this term, Hanoi is allocated VND250,000 billion of public investment capital. However, for the capital, the City only allocates capital for 5-7 projects and performs at least two terms. This affects the allocation of public investment that the People's Council cannot remove, so it is hoped that the Prime Minister will pay attention and direction to resolve the problem.
Ministries and sectors must actively remove obstacles
Minister of Finance Ho Duc Phoc said these problems are under our power and we can resolve them.
"Accordingly, there are two problems, including the preparation and implementation of the investment. "For example, for investment preparation, the current regulations say that the investment project is only made when the capital is allocated. When the capital is allocated, the project is made and the capital disbursement is implemented after two years. To remove these bottlenecks, the Ministry of Finance proposes to use recurrent expenditure to make projects necessary. When the investment is allocated, the implementation will not face shortcomings. But now the capital allocation is implemented first and then making the project, so it will see obstacles," the Minister said.
Minister of Finance Ho Duc Phoc said competent agencies must actively remove problems. In addition, they must promote decentralization; promptly adjust unit prices to be consistent with reality to ensure the sustainable quality of work.
Regarding the compensation for site clearance, the Minister said that the provincial government will approve the unit price, establish compensation councils, and adopt compensation plans. Therefore, the work is not difficult.
Minister of Health Dao Hong Lan, the Ministry has focused on implementing solutions to strengthen promotion and adjustment for projects and support slow projects. Especially the ministry has executed key projects to expedite the disbursement of public investment capital.
Related News
![Numerous factors behind the non-allocation of over VND 17.6 trillion in public investment capital](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/062024/06/14/croped/dau-thau-mua-sam2024012913420920240606143006.jpg?240609095913)
Numerous factors behind the non-allocation of over VND 17.6 trillion in public investment capital
21:59 | 09/06/2024 Headlines
![Cut down on "nooks and crannies" and drastically improve the business environment](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/062024/05/14/croped/3-4008-240520231048-z4371703251792-9443fbabf5d6c7c2514ff7663621a0c0-cat2024052812222320240605140438.jpg?240605063321)
Cut down on "nooks and crannies" and drastically improve the business environment
18:33 | 05/06/2024 Headlines
![Increasing the value of rice grains from the project of 1 million hectares of high quality rice](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/052024/27/09/croped/17-xuat-khau-gao-02-1709259112-17092836613557494580072024052017012620240527091911.jpg?240528020456)
Increasing the value of rice grains from the project of 1 million hectares of high quality rice
14:04 | 28/05/2024 Import-Export
![Customs deploys 132 full-online public services](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/052024/10/10/croped/2213-620240510104910.jpg?240513013047)
Customs deploys 132 full-online public services
13:30 | 13/05/2024 Customs
Latest News
![Perfecting the legal framework to promote upgrading the stock market](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/25/22/croped/132024072310541020240725221344.jpg?240726081814)
Perfecting the legal framework to promote upgrading the stock market
08:18 | 26/07/2024 Finance
![Margin loan continues hit new record](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/24/14/croped/fiin2024072315213620240724145347.jpg?240725092004)
Margin loan continues hit new record
09:20 | 25/07/2024 Finance
![Vietnam needs comprehensive regulatory framework to attract green financing](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/24/14/croped/green-finance-566620240724141129.5511800.jpg?240724021157)
Vietnam needs comprehensive regulatory framework to attract green financing
14:11 | 24/07/2024 Finance
![2025 budget estimation must be practical, accurate and efficient](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/23/13/croped/z5648711762772-4c57b15495cfcb197f8723d749fe4aa52024071917513120240723135923.jpg?240723023829)
2025 budget estimation must be practical, accurate and efficient
14:38 | 23/07/2024 Finance
More News
![The corporate bond market will be more vibrant in the second half of the year](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/22/15/croped/112024071818564620240722155216.jpg?240723082100)
The corporate bond market will be more vibrant in the second half of the year
08:20 | 23/07/2024 Finance
![Prioritize resources and promptly supplement capital for policy credit](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/17/14/nhcsxh-quang-ninh-1202407022251172024071616173420240717141834.jpg?rt=20240717141837?240722100700)
Prioritize resources and promptly supplement capital for policy credit
10:06 | 22/07/2024 Finance
![Measures suggested to boost startups’ access to capital](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/21/19/croped/measures-suggested-to-boost-startups-access-to-capital-56220240721193808.3646770.jpg?240721073852)
Measures suggested to boost startups’ access to capital
19:38 | 21/07/2024 Finance
![Inflationary pressure seen from monetary policy](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/18/22/croped/12024071118383020240718224146.jpg?240721094724)
Inflationary pressure seen from monetary policy
09:47 | 21/07/2024 Finance
![Banks with the problem of promoting credit growth](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/18/22/croped/142024070515243520240718222634.jpg?240720064949)
Banks with the problem of promoting credit growth
18:49 | 20/07/2024 Finance
![Proposal to increase Special Consumption Tax on tobacco products](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/19/15/croped/z5638560592107-bb19f9b3b6635b5bb407c871b1aff5ea2024071615410820240719150329.jpg?240720095049)
Proposal to increase Special Consumption Tax on tobacco products
09:50 | 20/07/2024 Finance
![Savings of individual customers at banks hit record high](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/19/14/croped/362413-savings20240719143011.3054670.jpg?240719023032)
Savings of individual customers at banks hit record high
14:30 | 19/07/2024 Finance
![Managing fiscal policy has achieved many positive and comprehensive results](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/18/22/croped/z5634201788386-8cf5a37a33eec7b9e4b5f8d46c60d6dc2024071509390720240718221008.jpg?240719021205)
Managing fiscal policy has achieved many positive and comprehensive results
14:12 | 19/07/2024 Finance
![Determine tools, policy for inflation control](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/18/22/croped/5-3231-5-long2024071116215420240718223836.jpg?240719021141)
Determine tools, policy for inflation control
14:11 | 19/07/2024 Finance
Your care
![Perfecting the legal framework to promote upgrading the stock market](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/25/22/croped/medium/132024072310541020240725221344.jpg?240726081814)
Perfecting the legal framework to promote upgrading the stock market
08:18 | 26/07/2024 Finance
![Margin loan continues hit new record](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/24/14/croped/medium/fiin2024072315213620240724145347.jpg?240725092004)
Margin loan continues hit new record
09:20 | 25/07/2024 Finance
![Vietnam needs comprehensive regulatory framework to attract green financing](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/24/14/croped/medium/green-finance-566620240724141129.5511800.jpg?240724021157)
Vietnam needs comprehensive regulatory framework to attract green financing
14:11 | 24/07/2024 Finance
![2025 budget estimation must be practical, accurate and efficient](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/23/13/croped/medium/z5648711762772-4c57b15495cfcb197f8723d749fe4aa52024071917513120240723135923.jpg?240723023829)
2025 budget estimation must be practical, accurate and efficient
14:38 | 23/07/2024 Finance
![The corporate bond market will be more vibrant in the second half of the year](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/22/15/croped/medium/112024071818564620240722155216.jpg?240723082100)
The corporate bond market will be more vibrant in the second half of the year
08:20 | 23/07/2024 Finance