Make a plan for public investment in 2021

VCN - The Ministry of Planning and Investment has requested ministries, central and local agencies to urgently formulate plans for public investment in 2021. The report must be sent to the MPI and the Ministry of Finance before August 15, 2020.
make a plan for public investment in 2021 Disbursement of public investment: "Decisive leadership is a key issue"
make a plan for public investment in 2021 "Sprint race" to disburse public investment
make a plan for public investment in 2021 High determination of disbursing 100% of public investment capital
make a plan for public investment in 2021
Prioritize allocation of public investment capital in 2021 for important national projects. Photo: Internet.

Capital arrangement must be consistent with disbursement schedule and capacity

MPI requires ministries, central and local agencies to clearly define goals and priorities in the 2021 public investment plan in accordance with the guidance specified in Directive No. 20 / CT-TTg dated July 29, 2019, on medium-term public investment planning for the 2021-2025 period and the ability to balance investment capital sources in 2021.

The arrangement of capital for the investment plan from the state budget must comply with the order of priority as prescribed.

Prioritize allocation of capital to key national projects, key infrastructure development programs and projects that have pervasive power, creating a driving force for socio-economic development, creating a breakthrough in attracting private sector capital, domestic and foreign people and ensure the harmonious development among localities and territories.

The amount of capital allocated for each project must be in line with the implementation progress and disbursement capacity in 2021.

For foreign capital, the arrangement of the plan must be consistent with the contents of the agreement and commitment to the donor; allocate sufficient funds for projects that conclude foreign loan agreements in 2021 and cannot afford to be extended.

The official dispatch states that the allocation of state budget capital in 2021 must ensure enough state budget capital in 2021 for transitional projects, completed in 2021 to promote investment efficiency.

The Ministry of Planning and Investment clearly stated that projects with over-time capital allocation in the 2016-2020 period transitioning to the 2021-2025 period must focus on allocating completed capital in 2021, minimizing reporting to the Prime Minister. The Prime Minister and the People's Council extend the capital allocation time for these projects.

Prioritize the allocation of capital to pay for the completed volume of projects already in the medium-term public investment plan for the 2016-2020 period, to transition to the 2021-2025 period.

Allocate capital for projects to be completed after 2021 according to the schedule but ensure that the project's capital allocation period is in accordance with the provisions of Clause 2, Article 52 of the Law on Public Investment (Group A projects must not exceed six years, group B does not exceed four years and group C does not exceed three years).

After allocating sufficient capital for the above-mentioned tasks, they will only allocate capital for new construction projects of inter-regional nature, urgent traffic, national defense, security, natural disaster prevention, and landslide handling; riverbank, coast, water security, climate change, projects under the national target program approved by the National Assembly for investment policy.

Many difficulties in balancing public investment capital in 2021

Regarding the public investment plan 2021, recently, at avideoconference on the preliminary review of the first six months of the year by the Ministry of Planning and Investment, the Director of the Department of Local and Territorial Economy Tran Duy Dong said, because 2021 is the year with many impacts of the Covid-19 pandemic, it is forecasted that the balancing of public investment capital in 2021 will be difficult, so it is suggested that localities choose suitable and effective projects, ensuring implementation progress according to regulations.

It is expected that in August 2020, the Ministry of Planning and Investment will implement mid-term planning conferences for 2021-2025 (integrated with the plan of 2021) with localities in three regions, if necessary; it will organize work with some large localities.

In order to accelerate the disbursement of the public investment in 2020, the Ministry of Planning and Investment proposed localities in the last months of the year to actively complete investment procedures, speed up the assignment of additional plans for 2016-2020 and plans for 2020, at the same time effectively implementing solutions and policies to increase disbursement of public investment capital in the last six months of the year.

Proactively review difficulties and problems of projects that have not yet disbursed or have a low disbursement rate, especially ODA projects, to actively make internal adjustments in the locality or propose capital transfer to other localities so that the Ministry of Planning and Investment can synthesize and submit to the competent authorities in August 2020.

Regarding the public proposal of slow disbursement units, Deputy Minister of Planning and Investment Tran Quoc Phuong said that this is also a solution to create pressure on low disbursement units.

However, in the future and in August 2020, under the request of the Prime Minister, the Ministry of Planning and Investment will report the first round of review as well as transferring the capital plan for low-disbursement units to the better disbursement units.

make a plan for public investment in 2021 PM urges resolution to bottlenecks in public investment disbursement

Prime Minister Nguyen Xuan Phuc on July 16 chaired an online meeting with leaders of all cities ...

This depends on the criteria, principles, especially the principle of reduction as well as the principle of addition to ensure efficient use of capital.

By Hoai Anh/Bui Diep

Related News

Public investment spending up 1.8% in first 10 months of 2024

Public investment spending up 1.8% in first 10 months of 2024

VCN - Public investment from Vietnam’s state budget saw steady growth in the first ten months of 2024, reaching 64.3% of the annual target—an increase of 1.8% compared to the same period last year.
Removing many bottlenecks in regular spending to purchase assets and equipment

Removing many bottlenecks in regular spending to purchase assets and equipment

VCN - Decree No. 138/2024/ND-CP, which has just been issued, is expected to contribute to resolving bottlenecks in allocating funds for purchasing assets and equipment; renovating, upgrading, expanding, and constructing new construction items in projects that have been invested in and constructed in the past.
Removing legal hurdles in regular spending for capital assets

Removing legal hurdles in regular spending for capital assets

VCN - Mr. Bui Anh Binh, Deputy Director of the Department of Public Administration (Ministry of Finance) emphasized that the issuance of Decree No. 138/2024/ND-CP has created an important legal corridor, promptly removed obstacles, and created conditions for ministries, branches, and localities to proactively use regular expenditures to carry out tasks and projects outside the approved medium-term public investment plan, and to be proactive in performing assigned tasks.
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.

Latest News

Monetary policy forecast unlikely to loosen further

Monetary policy forecast unlikely to loosen further

It will be difficult for the State Bank of Vietnam (SBV) to further loosen monetary policy due to a rising USD/VNĐ exchange rate pressure, experts said.
World Bank outlines path for Vietnam to reach high income status

World Bank outlines path for Vietnam to reach high income status

The World Bank (WB) has released a report which explores how Vietnam can upgrade its participation in global value chains to become a high-income country by 2045.
Strictly control public debt and ensure national financial security  2025

Strictly control public debt and ensure national financial security 2025

VCN – In order to achieve goal of strictly managing public debt and maintaining security and safety of the national financial system in 2025, it is necessary to ensure the borrowings and repayments of public debts is within the approved estimate; closely monitor public debt indicators to ensure that they are within the ceiling and warning thresholds approved by the National Assembly.
Revising the title of a draft of 1 Law amending seven finance-related laws

Revising the title of a draft of 1 Law amending seven finance-related laws

VCN - On November 19, 2024, the Standing Committee of the National Assembly (SCNA) discussed amendments and refinements to the draft of a law revising seven existing finance-related laws. Concluding the session, Vice Chairman of the National Assembly Nguyen Duc Hai emphasized the need for the Government to direct the drafting body and relevant agencies to collaborate closely to finalize a persuasive and widely supported report, ensuring the quality of the draft law for the National Assembly's consideration and decision.

More News

Transparency evates the standing of listed companies

Transparency evates the standing of listed companies

VCN - According to the Hanoi Stock Exchange (HNX), the number of companies placed under warning, control, or restricted trading on the listed and registered markets has increased over the past two years compared to 2022.
State-owned securities company trails competitors

State-owned securities company trails competitors

Contrary to the outstanding performances in the banking sector, the securities subsidiaries of major banks have yet to fully leverage their potential, despite numerous inherent advantages.
Strengthening the financial “health” of state-owned enterprises

Strengthening the financial “health” of state-owned enterprises

VCN - The state economy plays a key role in the socio-economic development process, but it is necessary to strengthen the financial health and competitiveness of state-owned enterprises (SOEs).
U.S. Treasury continues to affirm Vietnam does not manipulate currency

U.S. Treasury continues to affirm Vietnam does not manipulate currency

VCN - In its latest report, the U.S. Department of the Treasury has positively assessed Vietnam's monetary policy, reaffirming that Vietnam does not engage in currency manipulation.
Exchange rate fluctuations bring huge profits to many banks

Exchange rate fluctuations bring huge profits to many banks

Net profits from the foreign exchange trading segment of many banks have gained positive results thanks to a strong USD/VNĐ exchange rate fluctuations this year.
A “picture” of bank profits in the first nine months of 2024

A “picture” of bank profits in the first nine months of 2024

VCN - Pre-tax profits for banks during the first nine months of 2024 remained positive, exceeding 200 trillion VND, solidifying the sector's position as a market leader.
Many challenges in restructuring public finance

Many challenges in restructuring public finance

VCN - Restructuring public finance is an important step to improve state financial management, ensure resources are allocated reasonably and effectively, contributing to the country's sustainable development. In addition to the achieved results, the process of accelerating public finance restructuring also faces many pressures.
Tax declaration and payment by e-commerce platforms reduces declaration points and compliance costs

Tax declaration and payment by e-commerce platforms reduces declaration points and compliance costs

VCN - E-commerce platforms that declare and pay taxes on behalf of traders not only help to reduce the number of tax declaration points but also reduce the cost of compliance with administrative procedures for the whole society because only one point as the e-commerce trading platform implements tax deduction, payment and declaration on behalf of tens, hundreds of thousands of individuals and business households on the platform.
Disbursement of public investment must be accelerated: Deputy PM

Disbursement of public investment must be accelerated: Deputy PM

Deputy Prime Minister Ho Duc Phoc has called on ministries, agencies, and localities to accelerate the disbursement of public investment from now until the year-end and further tighten investment management.
Read More

Your care

Latest Most read
Monetary policy forecast unlikely to loosen further

Monetary policy forecast unlikely to loosen further

It will be difficult for the State Bank of Vietnam (SBV) to further loosen monetary policy due to a rising USD/VNĐ exchange rate pressure, experts said.
World Bank outlines path for Vietnam to reach high income status

World Bank outlines path for Vietnam to reach high income status

The World Bank (WB) has released a report which explores how Vietnam can upgrade its participation in global value chains to become a high-income country by 2045.
Strictly control public debt and ensure national financial security  2025

Strictly control public debt and ensure national financial security 2025

VCN - According to the plan for borrowing and repaying public debt and foreign debt of the country in 2025, the total borrowing demand of the Government in the year is expected to be at VND 815,238 billion, an increase of 20.6% compared to the Government'
Revising the title of a draft of 1 Law amending seven finance-related laws

Revising the title of a draft of 1 Law amending seven finance-related laws

On November 19, 2024, the Standing Committee of the National Assembly (SCNA) discussed amendments and refinements to the draft of a law revising seven existing finance-related laws.
Transparency evates the standing of listed companies

Transparency evates the standing of listed companies

According to the Hanoi Stock Exchange (HNX), the number of companies placed under warning, control, or restricted trading on the listed and registered markets has increased over the past two years compared to 2022.
Mobile Version