PM orders acceleration of public investment disbursement for 2024

The Government Office on July 9 issued an official dispatch on Prime Minister Pham Minh Chinh’s directions requiring the acceleration of public investment disbursement for 2024.

Accordingly, the PM requested ministries and central and local agencies to study the Ministry of Finance’s recommendations and focus on implementing drastic, timely, appropriate, and effective solutions to enhance the disbursement of public investment in accordance with their respective functions, tasks and authority.

Standing Government members will preside over a national teleconference with ministries, agencies, economic groups and state-owned enterprises to assess the implementation of the public investment plan for the first six months of this year and to carry out tasks and solutions to boost the disbursement in the second half. The conference is scheduled for July 17.

The PM required ministries, agencies, economic groups and state-owned enterprises to prepare reports evaluating the disbursement situation in the first half, including achieved results, limitations, causes, lessons learned, and tasks and solutions to enhance the work in the latter half of 2024. These reports must be submitted to the Ministry of Planning and Investment by July 12.

According to the General Statistics Office (GSO), the disbursement of public investment from the State budget in the first five months of this year was estimated to reach 190.6 trillion VND (7.44 billion USD), equal to 26.6% of the yearly target and 5% higher than the same period last year.

Of the sum, investment managed by the government was estimated at 32.5 trillion VND, equivalent to 29.3% of the yearly plan, a year-on-year decrease of 2.6%. Some ministries posted estimated disbursement rates lower than those recorded last year, namely the Ministry of Natural Resources and Environment (down 34.8%), the Ministry of Transport (down 19.1%), the Ministry of Health (down 1.5%) and the Ministry of Education and Training (down 1.1%).

The GSO also said that implemented investment capital managed by localities was estimated at 158.1 trillion VND, equal to 26.1% of the yearly plan and up 6.7% over the same period last year./.