State Treasury accelerates the disbursement of investment capital in the last months of 2018

VCN- The General Director of State Treasury has issued Directive 3933/CT-KBNN dated 14th August 2017, requesting leaders of units under the State Treasury, directors of provincial and municipal State Treasury to direct and implement works to accelerate the disbursement of investment capital in the last months of the year.  
state treasury accelerates the disbursement of investment capital in the last months of 2018 State Treasury has issued 75,000 billion VND Government bonds in Quarter 3
state treasury accelerates the disbursement of investment capital in the last months of 2018 State Treasury conducted 170 specialized inspections
state treasury accelerates the disbursement of investment capital in the last months of 2018 Transaction office of State Treasury dissolves, what will happen to revenue collection in Tax field?
state treasury accelerates the disbursement of investment capital in the last months of 2018

As of 31st July 2018, the accumulated investment capital disbursed in 2018 via the State Treasury is estimated at VND 135. 11 billion

According to the State Treasury, over the past time, under the drastic direction by the Government and Ministry of Finance, the State Treasury has urgently requested and comprehensively implemented solutions to accelerate the disbursement of capital construction investment in 2018. However, the rate of capital construction investment that is controlled and paid via the State Treasury is lower than the same period in 2017.

As of 31st July 2018, the accumulated investment capital disbursed in 2018 via the State Treasury is estimated at VND 135. 11 billion (accounting for 35.7% of the plan).

Of which, the disbursement of capital resources allocated by the Government was VND 133,820 billion, only reaching 35.6% of the plan. Specifically, the disbursement of capital construction investment was VND 110,455 billion (reaching 37.2% of the plan), the disbursement of the Government bonds capital was VND 7.020 billion (accounting for 17.6% of the plan); the disbursement of target program and national target program was VND 16,344.6 billion (reaching 41.3% of the plan).

Thus, in order to continuously strengthen financial rules and disciplines and enhance responsibility of Treasury units’ leaders in performing their tasks and accelerating the disbursement of public investment capital in the last months on 2018, the General Director of the State Treasury issued Directive 3933/CT-KBNN dated 14th August 2017, requesting leaders of units under the State Treasury, directors of provincial and municipal State Treasury to direct and implement works to accelerate the disbursement of investment capital in the last months of the year.

Specifically, the General Director of the State Treasury has requested units at all levels to closely follow directions of the Government and Ministry of Finance and closely coordinate with investors to continuously implement the Government’s Resolution 70/NQ-CP dated 3rd August 2017, on tasks and solutions to accelerate the implementation of disbursement of investment capital and Resolutions of the Government’s monthly meeting, and strive to disburse 100% of the plan for development investment capital assigned by the National Assembly and the Prime Minister.

In addition, based on the actual disbursement in each locality, to direct the State Treasury at all levels to take the initiative in coordinating with finance agencies in holding dialogue conferences with investors, thereby, understanding and removing inadequacies arising in the implementation and the disbursement of each project under their competencies. At the same time, summing up inadequacies beyond their competences and propose solutions and then report competent agencies for consideration and settlement.

Notably, the State Treasury has requested officers controlling expenditure to drastically implement assigned tasks, not to be overdue and omit their assigned tasks; not to delay any payment dossier at the State Treasury without reasons; not shirk responsibility and tasks. Always having a good attitude and enthusiastically servicing transactions with customers, and facilitating units. Closely checking documents and guiding units only once, absolutely not making units to have to move around a lot.

The State Treasury has also prohibited officers controlling expenditure from taking advantage of their positions to harass and seek profit upon handling issues related to units using budget and investors. At the same time, the State Treasury at all levels must strengthen the internal inspection on investment expenditure control, strictly handle officers and unit’s leader who violate on regulations and procedures on expenditure control.

Particularly, the State Treasury has requested the State Treasury at all levels to promote the task of administrative reform and implemented mode of expenditure control under the rule of "pre-payment and post-control" for multi-payment contracts. As per regulations of the Ministry of Finance and guidance of the State Treasury. At the same time, notifying investors and the project management boards on the mode of expenditure control of the State Treasury. By implementing this mode, the time of control and payment will be shortened to 1 working day since the date of receiving legible dossiers of the units.

state treasury accelerates the disbursement of investment capital in the last months of 2018 Simplifying administrative procedure in State Treasury field

VCN- The Ministry of Finance is drafting a Decree stipulating administrative procedure in the field of State ...

From now to the end of the year, the State Treasury at all levels need to take the initiative in urging investors and project management boards to expeditiously complete their dossiers within 4 days since the date their works have been accepted, and immediately implement the payment with the State Treasury and not to delay the payment until the end of the year.

At the same time, based on the decisions of competent authorities, the State Treasury at all levels shall urge investors to recover capital in advance and report in writing to the People's Committees at all levels in order to direct the investors to strictly implement, contributing to accelerating the disbursement of capital construction investment in 2018.

By Ngoc Linh/Ngoc Loan

Related News

Issuing government bonds has met the budget capital at reasonable costs

Issuing government bonds has met the budget capital at reasonable costs

VCN - According to the State Treasury's report, capital mobilization through the issuance of government bonds has ensured mobilization to meet the capital needs of the state budget at reasonable costs.
Untying the knot for green finance

Untying the knot for green finance

VCN - Green finance is a crucial resource for greening businesses. Completing the policy framework for green finance is urgently needed to unlock this capital flow.
Publicizes progress of public investment disbursement for important national projects

Publicizes progress of public investment disbursement for important national projects

VCN – Important national projects, inter-regional transport projects, riverbank and coastal erosion treatment projects all have disbursement rates lower than the estimated average disbursement rate of the whole country, the Ministry of Finance said.
Disbursement of public investment from foreign loans reaches 39.06% of the plan

Disbursement of public investment from foreign loans reaches 39.06% of the plan

VCN - At a conference held on December 3, 2024, to discuss the disbursement progress of public investment from foreign loans in the final months of the year, the Department of Debt Management and External Finance reported that ministries and agencies had disbursed over VND3.285 trillion. Notably, six ministries proposed returning a total of VND2.0924 trillion from the 2024 allocated budget.

Latest News

SBV makes significant net withdrawal to stabilise exchange rate

SBV makes significant net withdrawal to stabilise exchange rate

Analysis shows it’s an intervention to manage system liquidity.
Việt Nam could maintain inflation between 3.5–4.5% in 2025: experts

Việt Nam could maintain inflation between 3.5–4.5% in 2025: experts

The forecasts were presented by experts at the scientific conference titled ’Market and Price Developments in Việt Nam in 2024 and Forecasts for 2025’ organised by the Institute of Economics and Finance and the Price Management Department on January 9 in Hà Nội.
Banking industry to focus on bad debt handling targets in 2025

Banking industry to focus on bad debt handling targets in 2025

The non-performing loan (NPL) ratio of the banking system (excluding NPLs of weak commercial banks) needs to be controlled at below 3 per cent by the end of 2025.
State Bank sets higher credit growth target for 2025

State Bank sets higher credit growth target for 2025

The credit growth target for the banking system in 2025 has been set higher than in 2024.

More News

Outlook for lending rates in 2025?

Outlook for lending rates in 2025?

VCN - The economy is forecast to continue to recover strongly from the end of 2024 to 2025, helping credit demand increase rapidly, but lending interest rates may also be under increasing pressure.
Tax policies drive strong economic recovery and growth

Tax policies drive strong economic recovery and growth

VCN - Far more than just a revenue-collection agency, the Tax Department has played a pivotal role in creating a transparent, equitable, and business-friendly environment. These efforts have not only contributed to macroeconomic stability but also fueled recovery and development for businesses, individuals, and households.
E-commerce tax collection estimated at VND 116 Trillion

E-commerce tax collection estimated at VND 116 Trillion

VCN - According to data from the General Department of Taxation, taxes declared and paid directly by foreign suppliers via the electronic portal in 2024 amounted to VND 8.687 trillion, equivalent to 126% of the previous year’s total and a 74% increase compared to current appropriation.
Big 4 banks estimate positive business results in 2024

Big 4 banks estimate positive business results in 2024

One of the country’s biggest banks expects results to be the best for four years.
Flexible and proactive when exchange rates still fluctuate in 2025

Flexible and proactive when exchange rates still fluctuate in 2025

VCN - In the last days of 2024, as many forecasts, the US Federal Reserve (Fed) continued to cut interest rates, pushing the USD index up, creating pressure on domestic exchange rates. Therefore, domestic exchange rate management policies need to continue to be flexible and appropriate, thereby supporting businesses in import and export.
Bank stocks drive market gains as VN-Index closes final Friday of 2024 on a positive note

Bank stocks drive market gains as VN-Index closes final Friday of 2024 on a positive note

Việt Nam’s stock market ended the final Friday of 2024 on a positive note, with banking stocks leading the rally and VN-Index successfully surpassing the 1,275-point mark.
Banks still "struggling" to find tools for handling bad debt

Banks still "struggling" to find tools for handling bad debt

VCN - According to financial experts, the rising trend in bad debt continues to pose significant challenges to debt resolution and recovery efforts at credit institutions (CIs).
Forecast upbeat for banking industry in 2025

Forecast upbeat for banking industry in 2025

In a recent report, ACB Securities Companies analysts said that the net interest margin (NIM) of banks in 2025 will increase by five basis points over 2024.
Ensuring financial capacity of bonds issuers

Ensuring financial capacity of bonds issuers

VCN - The Ministry of Finance is finalizing the draft Decree amending and supplementing Decree No. 155/2020/ND-CP detailing the implementation of a number of articles of the Securities Law. The amendment aims to continue to perfect the legal framework and overcome some shortcomings arising in the practice of the securities market.
Read More

Your care

Latest Most read
SBV makes significant net withdrawal to stabilise exchange rate

SBV makes significant net withdrawal to stabilise exchange rate

Analysis shows it’s an intervention to manage system liquidity.
Việt Nam could maintain inflation between 3.5–4.5% in 2025: experts

Việt Nam could maintain inflation between 3.5–4.5% in 2025: experts

The forecasts were presented by experts at the scientific conference titled ’Market and Price Developments in Việt Nam in 2024 and Forecasts for 2025’ organised by the Institute of Economics and Finance and the Price Management Department on January 9 in Hà Nội.
Banking industry to focus on bad debt handling targets in 2025

Banking industry to focus on bad debt handling targets in 2025

The non-performing loan (NPL) ratio of the banking system (excluding NPLs of weak commercial banks) needs to be controlled at below 3 per cent by the end of 2025.
State Bank sets higher credit growth target for 2025

State Bank sets higher credit growth target for 2025

The credit growth target for the banking system in 2025 has been set higher than in 2024.
Outlook for lending rates in 2025?

Outlook for lending rates in 2025?

VCN - According to the SBV, in managing interest rates in 2024, the SBV will continue to maintain the operating interest rates amid the global world interest rates remaining at high levels.
Mobile Version