Public investment disbursement to reach nearly 34.5% of the plan by end of July

VCN - It is expected that by the end of July, the disbursement rate of public investment capital nationwide in the first seven months of the year will reach 34.47% of the plan assigned by the Prime Minister.
Radical and long-term measures needed to boost public investment disbursement Radical and long-term measures needed to boost public investment disbursement
Gov’t determined to speed up public investment disbursement Gov’t determined to speed up public investment disbursement
State Treasury: Administrative reform promotes public investment disbursement State Treasury: Administrative reform promotes public investment disbursement
There are many problems in the public investment disbursement. Photo: Internet.
There are many problems in the public investment disbursement. Photo: Internet.

36 ministries and 15 localities have disbursement rate below 30%

According to a report from the Ministry of Finance, it is expected that the disbursement rate of investment capital nationwide in the first seven months of the year will reach 34.47% of the plan assigned by the Prime Minister (over VND 542,105 billion), a slight year-on-year decrease (36.71%). Of this, disbursed domestic capital will reach over 36% and disbursed foreign capital 11.9%.

According to the Ministry of Finance, three ministries and 14 cities and provinces have recorded disbursement rates of over 40%. Some ministries and cities and provinces have with high disbursement rate, such as Central Committee of Vietnam Fatherland Front (71.55%), Development Bank (49.42%), Bank for Social Policies (48.3%); Tien Giang province (58.7%), Phu Tho province (56.4%) and Thai Binh province (55.1%).

In contrast, there are 36 ministries and 15 cities and provinces with disbursement rate below 30%, of which 26 ministries and two cities and provinces have disbursement rate below 15%.

The Ministry of Finance also reported on the implementation of a number of key projects. Specifically, the Project on land acquisition, compensation, support and resettlement at Long Thanh International Airport, according to Decision 1487/QD-TTg dated November 6, 2018 of the Prime Minister, has a total investment of VND22,856 billion and the capital allocated by 2021 is VND 22,855,035 billion. According to the State Treasury's report as of July 15, 2022, the project has been disbursed VND15,776,589 billion, reaching 69.03% of the assigned plan.

As for the East North-South Expressway Project in the 2017-2020 period, the State Treasury disbursed VND7,200 billion by the end of July 31, 2022, reaching 35% of the plan 2022 (VND20,526.645 billion). Currently, this project has completed the payment of compensation and support for affected households and organizations (reaching 100%), handed over 652,555km (99.95%). Along with that, all 11/11 component projects have started construction, of which 01 project has been completed (Cao Bo - Mai Son section).

The East North-South Expressway Project in the 2021-2025 period has been approved VND257 billion by the Prime Minister in the medium-term public investment plan for the 2021-2025 period to carry out the investment preparation work. Estimated disbursement by the end of July 31, 2022 is VND185 billion, equal to 72% of the plan.

Transfer capital from projects with slow disbursement to projects with good disbursement progress

Under the direction of the Government, ministries and sectors, the limitations in the public investment disbursement in the previous time have been overcome, including; scattered investment, lack of policies, disbursement not associated with strategic objectives, planning and plans; not associated with capital sources, not associated with the capital balance capital capacity; scattered, prolonged, inefficient investment, generating outstanding debts for capital construction; advance capital plan; and a lack of capital source for payment.

However, there are still many shortcomings and limitations which must be solved, such as: the quality and progress in investment preparation, project investment is not urgent, there is no medium and long-term vision; the progress of approving projects is still slow, disbursement has not met the requirements; capital for projects has been adjusted many times, affecting the implementation progress, quality of projects especially transportation projects.

To speed up the disbursement of public investment capital from the state budget, the Ministry of Finance proposes ministries, central and local agencies to immediately solve shortcomings and limitations.

Furthermore, the Ministry of Finance requested ministries, central and local to propose a plan to reduce central budget expenditures in the estimate until June 30, 2022 but have not yet been allocated (except special cases decided by the Prime Minister) to allocate to implementation of the Economic Recovery and Development Program.

Deputy PM urges acceleration of public investment disbursement Deputy PM urges acceleration of public investment disbursement

Deputy Prime Minister Pham Binh Minh has asked ministries, sectors and localities to strictly follow the direction ...

At the same time, ministries, central agencies and localities must uphold the roles and responsibilities of the head in directing the disbursement; review and transfer capital investment from disbursement projects with slow disbursement to projects with good disbursement progress and take responsibility for accountability for disbursement results as well as investment efficiency.
By Thuy Linh/ Huyen Trang

Related News

Inventory of public assets aims to accurately reflect the true nature of state budget resources

Inventory of public assets aims to accurately reflect the true nature of state budget resources

VCN - Implementing Decision No. 213/QD-TTg of the Prime Minister on the Project for a total inventory of public assets (TSC), currently the lead unit, the Ministry of Finance, is implementing work to carry out a total inventory of TSC at agencies, organizations, units and infrastructure assets invested and managed by the State in ministries, branches and localities across the country.
VND83,000 billion of State budget 2023 saved in 2023

VND83,000 billion of State budget 2023 saved in 2023

VCN - In 2023, the management of state budget expenditure was implemented proactively and strictly according to estimates, ensuring correct policies and regimes, thoroughly saving regular expenditures, and cutting down on unnecessary and slow spending tasks.
Ensuring balance of capital sources and deposit interest rates amidst rising credit trend

Ensuring balance of capital sources and deposit interest rates amidst rising credit trend

VCN - Since early May, many banks have continued to increase deposit interest rates to ensure a balance of capital sources in the context of a rapid increase in credit.
Completely resolve problems and accelerate public investment disbursement

Completely resolve problems and accelerate public investment disbursement

VCN - In the first 4 months of 2024, the disbursement of public investment capital reached 17.46% of the plan assigned by the Prime Minister, higher than 15.65% in the same period last year. However, to further speed up this work, the Ministry of Finance believed that it needed to urgently overcome problems that have existed for a long time, especially in key projects.

Latest News

Developing State budget estimates for 2025: carefully taking factors increasing, decreasing and shifting revenues into account

Developing State budget estimates for 2025: carefully taking factors increasing, decreasing and shifting revenues into account

VCN - The Ministry of Finance is developing a circular guiding the development of state budget estimates for 2025 and the 3-year state budget and financial plan for the 2025-2027 period; 5-year financial plan for the 2026-2030 period.
Ministry of Finance proposes seven solutions for combating tax evation for e-commerce

Ministry of Finance proposes seven solutions for combating tax evation for e-commerce

VCN - Vietnam e-commerce will reach US$30.5 billion in 2035 hence according to Minister of Finance Ho Duc Phoc, it will pose challenges to the management of tax, quality of goods, and anti-fraud.
Banks are ready to deploy biometric authentication

Banks are ready to deploy biometric authentication

VCN - According to Decision No. 2345/QD-NHNN dated December 18, 2023 of the State Bank, which will take effect from July 1, money transfer transactions over 10 million VND/time or over 20 million VND/day will require facial authentication. Accordingly, banks are urgently preparing to be ready to implement new regulations within the set deadline.
Review the tax payment of sales livestream individuals

Review the tax payment of sales livestream individuals

VCN - The General Department of Taxation has just issued an official letter directing local tax departments to drastically manage e-commerce taxes and electronic invoices generated from cash registers.

More News

13 cases subject to direct tax registration with Tax authority

13 cases subject to direct tax registration with Tax authority

VCN – The Ministry of Finance collects comments on a draft Circular guiding tax registration to replace Circular 105/2020/TT-BTC. According to the draft, if the National Population Database
Ministry of Finance: Focusing on improving independent audits

Ministry of Finance: Focusing on improving independent audits

VCN - According to Minister of Finance Ho Duc Phoc, in recent times, the Ministry of Finance has focused on improving the quality of independent audits through training, inspection, and examination.
Digitizing the process, banks actively lend online

Digitizing the process, banks actively lend online

VCN - Many banks promote online lending to save time and costs for both parties and creating conditions to promote credit growth.
The finance sector

The finance sector's firm stance on combating tax evasion in e-commerce

VCN - Addressing and clarifying some opinions raised by National Assembly deputies during the questioning session on issues related to the commerce and industry sectors on the afternoon of June 4, Minister of Finance Ho Duc Phoc stated that in the coming period, the finance sector would rigorously enforce tax collection on e-commerce to ensure fairness in the fulfillment of taxpayers' obligations.
Total State revenue managed by Tax sector is estimated at VND767,415 billion

Total State revenue managed by Tax sector is estimated at VND767,415 billion

VCN – The total state revenue in the first five months of 2024 managed by the Tax authority is estimated at VND 767,415 billion, meeting 51.6% of the target and 114.9% year-on-year.
Tax sector cooperate with Police agency to prevent fraud of tax invoice

Tax sector cooperate with Police agency to prevent fraud of tax invoice

VCN - Over the years, the acts of law violation on electronic tax invoices took place complicatedly with many different tricks. To prevent fraud, the tax sector has applied several drastic measures, including strengthening cooperation with the Police agency.
Over 4.49 billion USD raised through G-bond auctions in five months

Over 4.49 billion USD raised through G-bond auctions in five months

The State Treasury mobilised more than 127 trillion VND (4.49 billion USD) from G-bond auctions on the Hanoi Stock Exchange (HNX), or 31.76% of the annual plan.
Five-month budget revenue reached half of the whole year 2024 revenue estimate

Five-month budget revenue reached half of the whole year 2024 revenue estimate

VCN - According to the Ministry of Finance, in May 2024, total state budget revenue is estimated to reach VND150.9 trillion. In the first five months of 2024, total budget revenue is estimated to reach VND898.4 trillion, equal to 52.8 percent of the estimate.
Bank savings of individual customers recover while institutional savings decline

Bank savings of individual customers recover while institutional savings decline

Deposits of individual customers at banks have increased again since February this year, after declining in January, the latest statistics from the State Bank of Vietnam (SBV) showed.
Read More

Your care

Latest Most read
Developing State budget estimates for 2025: carefully taking factors increasing, decreasing and shifting revenues into account

Developing State budget estimates for 2025: carefully taking factors increasing, decreasing and shifting revenues into account

VCN - The Ministry of Finance is developing a circular guiding the development of state budget estimates for 2025 and the 3-year state budget and financial plan for the 2025-2027 period; 5-year financial plan for the 2026-2030 period.
Ministry of Finance proposes seven solutions for combating tax evation for e-commerce

Ministry of Finance proposes seven solutions for combating tax evation for e-commerce

Vietnam e-commerce will reach US$30.5 billion in 2035 hence according to Minister of Finance Ho Duc Phoc, it will pose challenges to the management of tax, quality of goods, and anti-fraud.
Banks are ready to deploy biometric authentication

Banks are ready to deploy biometric authentication

VCN - VPBank recommends that, to avoid transaction interruptions, customers proactively update their account information according to their chip-embedded citizen identification card before July 1.
Review the tax payment of sales livestream individuals

Review the tax payment of sales livestream individuals

The General Department of Taxation has just issued an official letter directing local tax departments to drastically manage e-commerce taxes and electronic invoices generated from cash registers.
13 cases subject to direct tax registration with Tax authority

13 cases subject to direct tax registration with Tax authority

VCN - Notably, Article 4 of the draft Circular stipulates that taxpayers subject to direct tax registration with tax authorities include: taxpayers subject to tax registration through the interconnected single-window mechanism; Taxpayers subject to direct
Mobile Version