Ministry of Construction gives "ultimatum" on disbursement of public investment

VCN - The Ministry of Construction recently issued a directive on speeding up the implementation and disbursement of the 2021 public investment capital plan, requiring 100% completion of the capital plan assigned by the end of December 31, 2021.
The Ministry of Construction requested to soon complete the final settlement documents of completed bidding packages of the National Assembly Building project. Source: Internet.
The Ministry of Construction requested to soon complete the final settlement documents of completed bidding packages of the National Assembly Building project. Source: Internet.

Disbursement reached 22.2% of the allocated plan

According to the Ministry of Construction, units have made great efforts to accelerate the implementation and disbursement of public investment capital in 2021.

However, implementation is still limited, is not effective, not drastic in some units, the leaders of some units are not thorough, lack urging, inspection and responsibility in the implementation of the project, coordination in handling work and organisation of implementation is still not tight, there is still the situation of passing and avoiding responsibility.

Discipline in public investment is not strict, so some projects are implemented slowly and implementation is not on time; a number of projects have completed volume, but the procedures for acceptance, payment and finalisation are slow, leading to a low disbursement value of the public investment capital plan in 2021, affecting plan implementation from the Ministry of Construction.

Regarding investment projects using public investment capital, the Ministry of Construction said at the beginning of the year, the ministry assigned details of the 2021 State budget capital investment plan (phase 1) for investment projects meeting the conditions with capital of 322.52 billion VND.

The remaining capital (VND 353,719 billion) would be delivered immediately after the National Assembly approves the medium-term public investment plan for 2021-2025. In the first six months of the year, disbursed public investment capital was 70.54 billion dong, reaching 22.2% of the plan.

Implementing the medium-term public investment plan for 2021-2025, the Ministry of Construction has completed a detailed capital allocation plan, finished the appraisal and approved investment policies for projects in the medium-term investment portfolio in 2021-2025 with a total expected capital of VND 3,006.9 billion, which has been submitted to the Ministry of Planning and Investment for appraisal.

For projects using economic public service funds, in 2021, the Ministry of Construction will manage 64 tasks and programmes (including 46 newly opened tasks) with a total budget of 28.83 billion dong.

Regarding ODA projects, in 2021 the Ministry of Construction is directly managing, implementing and coordinating 10 ODA programmes and projects with a total budget of VND 59.93 billion (of which, the counterpart is VND 17.26 billion and foreign capital is VND 42.67 billion).

100% of the 2021 capital plan must be completed by December 31, 2021

To ensure completion of the public investment capital plan assigned in 2021, the Minister of Construction requested heads of the affiliated units to urgently direct the synchronous, drastic and effective implementation of tasks, and solution.

Accordingly, speeding up the preparation of the project, the selection of contractors is in accordance with the law, and early starting the work, as well as conducting online bidding, ensuring publicity and transparency, and selection of qualified contractors.

Remove difficulties and obstacles, ensuring progress of works; expeditiously check and accept, make payment documents as soon as the volume is available, carry out the payment procedures of investment capital for the project within four days from is checked and accepted as prescribed, not to accumulate payments at the end of the year, not to cause outstanding debt for capital construction.

For example, for the construction investment project of the National Assembly House, the Ministry of Construction requested urging contractors and related units to speed up the completion of finalisation documents of completed bidding packages to timely disburse public investment capital in 2021.

Maximise human resources to complete the checking and payment procedures for contractors; complete final settlement documents for bidding packages audited by the State Audit, and submit them to the Ministry of Construction for verification and approval in accordance with regulations; handle problems or promptly report problems beyond their competence to the Ministry of Construction.

The Ministry of Construction also requires 100% of the capital plan assigned 2021 must be completed by the end of December 31, 2021. Investors must commit to the implementation schedule and disbursement of public investment capital in 2021 with the Ministry of Construction on a monthly basis.

By September 30, projects with a disbursement rate of less than 60% of the public investment capital plan assigned in 2021 (except for new construction projects in 2021 awaiting capital allocation after by the Prime Minister approved a medium-term public investment plan for the period of 2021-2025) will have their capital transferred to projects with good disbursement progress and lacking capital. The Ministry of Construction will review responsibility and take disciplinary measures against the head of the investors for the delay in implementation and disbursement.

The ministry also requested investors to focus on directing, inspecting, urging and promptly handling difficulties and problems in the disbursement of public investment capital, especially problems with investment procedures and procedures for checking, payment and the settlement of investment capital; attaching implementation and disbursement progress and project efficiency to the individual responsibility of the head and the person assigned to perform the task, considering them a criterion for assessing the level of work completion in 2021.

Resolutely and promptly handle organisations and individuals that violate and intentionally obstruct, causing difficulties, slow the implementation and disbursement progress of the 2021 public investment capital plan and promptly replace civil servants, public employees and employees being weak or having negative interferences on the performance of investment capital management tasks and in bidding.

For investors who do not meet their committed progress, are late in submitting the settlement report of completed projects, or do not reach 100% of the disbursement plan for public investment capital in 2021, the Ministry of Construction will handle the responsibility of the head of the investor, at the same time consider the transfer of the project investor, resolutely not allocate capital to start new projects, do not allow them to be the investor of other projects. The head of the unit must be subject to a specific disciplinary action and take responsibility fully before the Minister of Construction.

By Hoai Anh/ Binh Minh

Related News

Support clearance procedures for imported gold for bidding

Support clearance procedures for imported gold for bidding

VCN - The State Bank (SBV) has sent a document to competent ministries and branches requesting coordination in implementing the Prime Minister's direction in gold market management.
Ensure savings and prevent losses in disbursement of public investment

Ensure savings and prevent losses in disbursement of public investment

VCN - The practice of thrift and combating waste in the management and use of public investment is one of key tasks in the program of thrift practice and waste combat in 2024 of the Ministry of Finance.
Credit package of VND120 trillion: must be disbursed as soon as conditions are met

Credit package of VND120 trillion: must be disbursed as soon as conditions are met

VCN - According to the State Bank of Vietnam (SBV), so far, only 28 out of 63 provincial People's Committees have sent documents or announced the list of projects participating in the VND120 trillion credit package, including 30 out of 68 projects with capital borrowing needs.
Plan of bidding VND400,000 billion of government bonds with term 2024

Plan of bidding VND400,000 billion of government bonds with term 2024

VCN - The State Treasury has just announced details plan of the 2024 government bond bidding by term.

Latest News

Price stability from supply increase and transparency in trading in gold market

Price stability from supply increase and transparency in trading in gold market

VCN - To stabilize the gold market, economic expert Prof.Dr. Tran Tho Dat, a member of the Prime Minister's Economic Advisory Group, said that it is necessary to implement solutions to make all transactions transparent in the gold market, implement electronic invoices as well as pay taxes in gold investment activities.
SBV takes more actions to stabilise foreign exchange rates

SBV takes more actions to stabilise foreign exchange rates

The State Bank of Vietnam (SBV) on April 23 took some moves like issuing treasury bills (T-bills), further employing T-bills as an open market operation (OMO), and stipulating liquidity and interest rates in the inter-bank market in the face of surging USD/VND exchange rates.
Proposal to exclude criminal liability for tax officials when businesses provide false information to refund VAT

Proposal to exclude criminal liability for tax officials when businesses provide false information to refund VAT

VCN - The revised Draft Law on Value Added Tax (VAT), besides inheriting many provisions from the current Law, also revises and supplements several contents to suit the actual situation, including some notable contents in VAT refund.
Corporate bond maturity in 2024 remains high: MoF

Corporate bond maturity in 2024 remains high: MoF

The volume of corporate bonds maturing in 2024, though lower than that in 2023, is till at a high level, mostly in industries with payment risks such as real estate and renewable energy, according to a report by the Ministry of Finance (MoF).

More News

The exchange rate will gradually cool down from the end of the second quarter of 2024, while interest rates will remain low

The exchange rate will gradually cool down from the end of the second quarter of 2024, while interest rates will remain low

VCN - According to forecasts, Vietnam's financial sector in 2024 will be more positive, with the exchange rate gradually cooling down from the end of the second quarter of 2024, while interest rates will remain low to promote growth.
Majority of credit institutions forecast profit growth in 2024

Majority of credit institutions forecast profit growth in 2024

A total of 86.2% of credit institutions expect their profit this year to grow compared to 2023, according to the latest survey of the State Bank of Vietnam (SBV).
Central bank plans to auction gold bars on April 22

Central bank plans to auction gold bars on April 22

The State Bank of Vietnam (SBV) will auction SJC-branded gold bars on April 22, a representative of the central bank said on April 19.
Old loans must endure higher interest rates temporarily: central bank

Old loans must endure higher interest rates temporarily: central bank

The average lending interest rate for new loans by commercial banks is reported at around 6.4% per year, a decrease of 0.7 percentage point per year compared to the end of last year. However, borrowers with loans issued before the latest rate adjustment still must pay higher rates, according to the State Bank of Vietnam (SBV).
State-owned enterprises flourished

State-owned enterprises flourished

VCN - The production and business situation in the first quarter of 2024 of the state-owned enterprise sector continues to have many bright spots with many financial targets completed or exceeding the set plan. This is the premise for positive business results in the second quarter and the whole year 2024.
Forum discusses support for women-owned firms ​to join supply chains

Forum discusses support for women-owned firms ​to join supply chains

A forum on supporting women-owned businesses to join supply chains through sustainable development tools took place in Hanoi on April 17.
Implementing unprecedented fiscal policies to actively support people and businesses

Implementing unprecedented fiscal policies to actively support people and businesses

VCN - Implementing fiscal policies to support the economy, the Ministry of Finance has advised and offered many unprecedented solutions to reduce taxes, fees and charges, thereby supporting people and businesses to overcome difficulties, restore production and business. According to assessments, in 2024 fiscal policy will continue to be a positive highlight for the economy.
Foreign investors net sell in Vietnamese market, banking sector attracts interest

Foreign investors net sell in Vietnamese market, banking sector attracts interest

According to BSC, foreign investors sold a net total of VNĐ11.55 trillion across all three exchanges in the first three months of 2024, equivalent to 50.62 per cent of the total net selling value in 2023. The selling pressure came from active funds and ETFs, resulting in a continued net withdrawal state and exerting pressure on the market.
Banks record positive business indicators in Q1 2024

Banks record positive business indicators in Q1 2024

According to experts, the prosperity of the banking industry in the period came from many supporting factors, including favourable policies to credit growth.
Read More

Your care

Latest Most read
Price stability from supply increase and transparency in trading in gold market

Price stability from supply increase and transparency in trading in gold market

VCN - To stabilize the gold market, economic expert Prof.Dr. Tran Tho Dat, a member of the Prime Minister's Economic Advisory Group, said that it is necessary to implement solutions to make all transactions transparent in the gold market, implement electr
SBV takes more actions to stabilise foreign exchange rates

SBV takes more actions to stabilise foreign exchange rates

The State Bank of Vietnam (SBV) on April 23 took some moves like issuing treasury bills (T-bills), further employing T-bills as an open market operation (OMO), and stipulating liquidity and interest rates in the inter-bank market in the face of surging USD/VND exchange rates.
Proposal to exclude criminal liability for tax officials when businesses provide false information to refund VAT

Proposal to exclude criminal liability for tax officials when businesses provide false information to refund VAT

The revised Draft Law on Value Added Tax (VAT) also revises and supplements several contents to suit the actual situation, including some notable contents in VAT refund
Corporate bond maturity in 2024 remains high: MoF

Corporate bond maturity in 2024 remains high: MoF

The volume of corporate bonds maturing in 2024, though lower than that in 2023, is till at a high level, mostly in industries with payment risks such as real estate and renewable energy, according to a report by the Ministry of Finance (MoF).
Support clearance procedures for imported gold for bidding

Support clearance procedures for imported gold for bidding

The State Bank (SBV) has sent a document to competent ministries and branches requesting coordination in implementing the Prime Minister's direction in gold market management.
Mobile Version