More aggressive in directing public investment disbursement

Public investment disbursement in the first six months of 2019 is behind requirements. Photo: Internet.

Accordingly, the total capital of the State budget of 2019 has been allocated to be VND 294,219,349 billion, of which the local capital was VND 232,400 billion, accounting for 78.99 percent of the allocated total State budget and central budget capital was VND 19,598 billion, accounting for 6.66 percent.

National target programcapital wasVND 17,985 billion, accounting for 6.11 percent; Government bond capital (Government bonds) was VND 9.684 billion, accounting for 3.29 percent; foreign capital was VND 14.551 billion, 4.94 percent.

In addition, the central budget capital of the 2018 plan implemented and disbursed in 2019 by localities was VND 15,224 billion,

The Ministry of Planning and Investment (MPI) said according to the report of the Ministry of Finance on the payment of investment capital for development, State budget and government bonds of localities reached VND 96,639 billion, accounting for 32.85 percent, 1.88 percent lower than the same period in 2018.

According to the MPI, to promote the disbursement progress of public investment, the Ministry has established some delegations led by the ministry's leaders to work in key areas in the North, Central and South regions, to monitor, inspect and urge ministries, agencies and localities with low disbursement rates and study and propose solutions to boost the disbursement; reviewed and reported to the Government and the Prime Minister for consideration and transfer of capital from units with low disbursement rates to units with demand for capital and high disbursement rates, contributing to boosting disbursement of capital sources and promoting economic growth.

In general, the MPI said the localities have seriously implemented the direction of the disbursement, promulgated executive documents, assigned tasks to leaders of provinces, departments, sectors, People's Committees at all levels and investors in public investment disbursement in 2019.

“However, the disbursement rate in the first six months of 2019 was low, especially for three capital sources: ODA, National target programme and Government bonds. In order to strive to disburse 100 percent of the assigned capital plan in 2019, the localities need to be more aggressive in directing and managing the disbursement,” the MPI’s report stated.

The MPI proposed many solutions to boost disbursement. Accordingly, to accelerate disbursement in 2019, localities need to follow the payment of public investment capital of each project, shortcomings, difficulties and obstacles and reasons for slow disbursement to introduce solutions.

Regarding the transfer of investment capital of projects, localities should take the initiative in reviewing and proposing competent authorities to transfer the assigned public investment plan in 2019 from projects with slow disbursement progress into projects with demand for capital and good disbursement progress.

Regarding removing difficulties and obstacles on disbursement procedures for the "Project of land acquisition, compensation and resettlement support for Long Thanh International Airport", the MPI will work with relevant agencies to guide procedures for the evaluation and approval of estimates; elaborate and appraise and approve the contractor selection plan and submit it to the Prime Minister for approval.

360,117 billion VND has been allocated to the public investment plan in 2019

The Ministry of Finance shall preside over and work with concerned agencies to guide t procedures for payment of investment capital for "Project on land acquisition, compensation and resettlement assistance for Long Thanh International Airport".