Many localities have not identified the exact amount of construction debt

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According to the Ministry of Finance, the data on capital construction debts in the implementation of the new rural development program of VND 15.277 trillion as of 31 January 2015 is not consistent with the regulations (one month later than the Law on Investment public).

The review and synthesis of capital construction debt in the implementation of the new rural development plan is not complete according to the provisions of the Public Investment Law, the directives of the Prime Minister and relevant guiding documents.

The capital construction debt has not yet been accurately determined based on each source of capital, debt structure and new debts after the effective date of the Law on Public Investment. The sum of capital disbursed from the plan for 2015 and 2016 shall not be aggregated to pay the outstanding debts according to regulations.

In fact, the Ministry of Planning and Investment has issued a document guiding the localities on the criteria for identifying construction arrears in the new rural development plan, guiding the repayment plan and debt repayment sources.

The Ministry of Agriculture and Rural Development has synthesized the situation of settling outstanding debts of localities and organizing inter-branch inspection missions in some localities with large debts such as Quang Nam, Hai Duong, Ha Nam and Thai. Binh, Hai Phong, Thanh Hoa, Vinh Phuc.

Preliminary inspections in localities showed that most of them had prioritized resources for dealing with the outstanding debts as of 31 December 2014 according to the Law on Public Investment based on the amount of debt arising after the effective date of the Law on Public Investment.

However, many localities have reviewed and summarized data incompletely in the years from 2015 to 2018, so the data is not accurate.

After the inter-branch inspection, the localities have reviewed and reported debts which were reduced compared with the original report. Specifically, the amount of debts before the examination was more than VND 3,696 billion and the debt after inspections was more than VND 515 billion, a decrease of more than VND 3,181 billion.

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At present, the Ministry of Agriculture and Rural Development is reviewing, synthesizing and reporting debt settlement results in the coming time as required. Within the scope of its assigned functions and tasks, the Ministry of Finance shall coordinate relevant units to implement according to regulations.