State Treasury: Administrative reform promotes public investment disbursement

VCN – To achieve positive results in public investment disbursement, the State Treasury system has continued administrative reform as well as accelerating the disbursement progress of each project.
the total planned investment capital from the state budget in 2022 is over VND549,690 billion.
The total planned investment capital from the state budget in 2022 is over VND549,690 billion. Source: Internet

Actively disbursing public investment capital

According to the report of the Ministry of Finance, by the end of the budget year (as of January 31, 2022), public investment capital under the 2021 plan, the State Treasury has disbursed over VND431,188 billion, reaching 93.47% of the plan assigned by the Prime Minister. There are nine ministries and ten localities reaching a disbursement rate of public investment capital in 2021 by over 95%.

According to the Ministry of Finance, although the disbursement rate of public investment capital in 2021 is high, it is still lower than the same period in 2020 (over 97%). This result also sets the premise for the following years in order to reach the goal set out in the Resolution of the National Assembly on the medium-term public investment plan for the 2021-2025 period.

This result has contributed significantly to the State Treasury industry, especially in the application of information technology and reform of administrative procedures.

For example, in Hanoi, by the end of 2021, Hanoi disbursed the investment capital under the 2021 plan, reaching 79.7%. As the authority controlling the expenditure of capital sources, Hanoi State Treasury had come up with a number of solutions to speed up the disbursement progress of projects. One of the solutions implemented by the Hanoi State Treasury was to continue to reduce the time of expenditures control and make 100% payment of basic construction investment expenditures of investors and project management boards online.

In Hoa Binh, a leader of Hoa Binh State Treasury said that, by early 2022, the disbursement rate of the province's public investment capital would reach over 90%. The unit had been very active in coordinating and urging investors to immediately disburse capital when the volume was completed. In particular, the officers of Treasury followed each investor; investors were also very serious in reporting the progress. Therefore, difficulties in capital disbursement were quickly and promptly resolved, helping to speed up the disbursement progress.

Notably, the administrative reform of the State Treasury system also plays an important role in promoting the disbursement of public investment capital. Accordingly, in 2021, the State Treasury had strongly implemented information technology and administrative reforms, making an important contribution to optimizing application programs, improving system performance and increasing productivity; reducing transaction processing time.

This is also the first year that the State Treasury provides 100% of procedures at level 4 online, reaching 100% of participants. The number of monthly transactions of state budget expenditure vouchers on the online public service system reached over 99%. Budget users can transact with the State Treasury 24/7 via online public services (including weekends/holidays) at any location. This helps to reduce travel time, reduce operating costs for units, makes the process of handling documents and budget expenditures transparent, contributes to reforming and modernizing expenditure control. It also creates a premise towards implementing the electronic expenditure control process of the State Treasury.

Implementing from the first days of the year

According to the Ministry of Finance, the total planned investment capital from the state budget in 2022 is over VND549,690 billion. By the end of January, the estimated disbursement rate of investment capital in 2022 is 2.36%. Currently, most ministries and localities are focusing on allocating capital plans and entering cost estimates for projects, so the disbursement rate in the first month of the year is still low.

To achieve the highest results for capital disbursement in 2022, from the first days of the year, the State Treasury has promoted disbursement. The Ministry of Finance requested ministries, sectors and localities that have not fully allocated the capital plan for 2022 to urgently implement detailed capital allocation for projects complying with the Prime Minister's regulations. In case the remaining capital plan in 2022 has not been allocated in detail due to insufficient procedures, the Ministry of Finance requests ministries, sectors and localities to urgently complete investment procedures of projects in order to continue allocating assigned capital.

For projects that are not eligible for capital plan assignment in 2022 because they have not been assigned a medium-term public investment plan for the 2021-2025 period, the Ministry of Finance requests ministries, sectors and localities to complete investment procedures, report to the competent authority to assign the list of medium-term public investment plans for the 2021-2025 period; implement the capital allocation plan in 2022 after the projects have met the conditions for capital allocation in accordance with the provisions of the law on public investment and the regulations of the Prime Minister.

According to Hanoi State Treasury, in 2022, Hanoi's public investment capital is VND51,072.9 billion. To speed up the disbursement from the beginning of the year, Hanoi will focus on key traffic projects. In particular, the city will adjust the investment policy of the urban railway project of the Nhon - Hanoi Station section; the master plan of underground station C9 urban railway line 2 (Nam Thang Long - Tran Hung Dao section); approved investment policy of urban railway project line 3 (Hanoi - Hoang Mai station section). At the same time, reporting the pre-feasibility study on urban railway project No. Ngoc Khanh - Lang - Hoa Lac); appraise and submit to the National Assembly for approval of the investment policy of the project to build Beltway 4 - Hanoi Capital.

To ensure the disbursement progress of the projects, the Hanoi State Treasury will regularly update the disbursement data of each project and each investor to post information about the disbursement situation on the information page of the Department of Planning and Investment, helping investors. According to the Hanoi State Treasury, key projects that accelerate the disbursement of public investment capital will raise the overall rate of Hanoi, therefore, this agency will actively grasp the situation of disbursing basic construction investment capital and long-term capital plans of each project. From there, coordinating with departments and sectors to promptly report to the Hanoi City People's Committee for consideration and giving direction to handle difficulties and accelerate disbursement progress.

By Thùy Linh/Thanh Thuy

Related News

Customs joint hand to improve business environment, attracting investment

Customs joint hand to improve business environment, attracting investment

VCN - Implementing Resolution 02/NQ-CP dated January 1st, 2024 of the Government on key tasks and solutions to improve the business environment, and national competitiveness in 2024, the Customs sector has proactively deployed several solutions to join hands with other ministries and local branches to implement this important policy.
Ho Chi Minh City Customs: Creating strong changes from modern management methods

Ho Chi Minh City Customs: Creating strong changes from modern management methods

VCN - Applying many innovative initiatives, as well as strongly applying information technology (IT) to operational stages, Ho Chi Minh City Customs Department expects to create strong changes in digital transformation from modern management methods.
Businesses appreciate reform and facilitation efforts of Hai Phong Customs

Businesses appreciate reform and facilitation efforts of Hai Phong Customs

VCN - Administrative reform and trade facilitation is one of the key and thorough tasks of Hai Phong Customs Department, which has gained many positive results and been highly appreciated by the business community.
Digitalizing procedure for social welfare payment at State Treasury

Digitalizing procedure for social welfare payment at State Treasury

VCN - The Government has given directives to promote digital transformation in social welfare payments. Therefore, promoting the digitalization and electronicization of revenue and expenditure transactions at the State Treasury has been identified as one of the most important tasks.

Latest News

After six consecutive increase years, tax revenue from real estate transfer plunges

After six consecutive increase years, tax revenue from real estate transfer plunges

VCN – In 2023, real estate market was in extremely difficult time, purchasing power and liquidation had a sharp decline and there was a lack of cash flow, the amount of personal income tax (PIT) from real estate transfer activities plunged.
Improve processes and enhance experience to rebuild trust in life insurance

Improve processes and enhance experience to rebuild trust in life insurance

VCN - In Vietnam, the space and potential of the life insurance industry is still very large, so it is necessary to focus on implementing new solutions, improving product quality, and helping the market develop sustainably.
PM chairs meeting on fiscal, monetary policy management

PM chairs meeting on fiscal, monetary policy management

Prime Minister Pham Minh Chinh chaired a meeting in Hanoi on May 16 with ministries and agencies to discuss the coordination of fiscal and monetary policies aimed at maintaining macroeconomic stability, controlling inflation and promoting growth.
Many tax management solutions for e-commerce

Many tax management solutions for e-commerce

VCN - In Vietnam, the e-commerce market is increasingly growing and expanding with a diversity of operating models, many participants... posing great challenges for tax management.

More News

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.
Tax, land rent payment deadlines to be extended this year

Tax, land rent payment deadlines to be extended this year

Payment deadlines for value added tax (VAT), corporate income tax, personal income tax, and land rent in 2024 are set to be extended, involving a total tax value of nearly 84 trillion VND (3.3 billion USD).
Tax compliance management in the digital economy

Tax compliance management in the digital economy

VCN - The management of tax compliance in the digital economy has faced many challenges compared to the traditional economy. The transactions made via the internet environment and digital platforms have caused monitoring, controlling and management difficulties. Therefore, it is required to have appropriate solutions for management and ensuring revenue sources.
Hai Phong: Budget revenue reached more than VND40,000 billion

Hai Phong: Budget revenue reached more than VND40,000 billion

VCN - The results of Hai Phong City's revenue collection achieved a good growth rate, expected to reach hundreds of trillion VND for the third consecutive year.
Price adjustment should be in implemented in appropriate time to control inflation

Price adjustment should be in implemented in appropriate time to control inflation

VCN – The increase in base salary, deposit interest rates, exchange rates and gold prices, and adjustment of prices of public services and State-managed goods are “threats” in price management and inflation control from now until the end of the year. However, Dr. Nguyen Duc Do, Deputy Director of the Institute of Economics and Finance (Academy of Finance), these are not too big impacts, it is necessary to monitor and calculate the appropriate time and level.
Fiscal policy is expanded and flexible to promote economic growth 2024

Fiscal policy is expanded and flexible to promote economic growth 2024

VCN - Recently, the Ministry of Finance has proactively researched, proposed, and submitted to competent authorities as well as issued financial support policies for the economy, with a total of about VND700 trillion. This is a particularly important resource that contributes to promoting the economic recovery process after the pandemic. According to experts, in 2024, flexible and prudent fiscal policy will continue to be the foundation for the economy.
Closely follow the situation, research and propose many solutions about taxes and fees to support the economy

Closely follow the situation, research and propose many solutions about taxes and fees to support the economy

VCN - In 2024, along with evaluating and summarizing the implementation of support solutions that have been issued, the Ministry of Finance will continue to coordinate with ministries and branches to closely monitor the actual situation and forecast the situation of socio-economic development to research and propose to competent authorities about support solutions on taxes and fees to apply in 2024.
Prevent corruption and group interests in developing financial laws

Prevent corruption and group interests in developing financial laws

VCN - In order to prevent corruption, group interests, and local interests, the Ministry of Finance requires its subordinate units to strengthen the building and perfecting legal system and law enforcement organization. Accordingly, the Ministry will strictly handle corruption, negative acts and group interests in policy development.
"Creativity in revenue collection to achieve set goals in difficult contexts"

"Creativity in revenue collection to achieve set goals in difficult contexts"

VCN - The Ministry of Finance held an online briefing conference to evaluate the implementation of financial and budget work in April and deploy the work program for May 2024. Minister of Finance Ho Duc Phoc chaired the conference.
Read More

Your care

Latest Most read
After six consecutive increase years, tax revenue from real estate transfer plunges

After six consecutive increase years, tax revenue from real estate transfer plunges

VCN – In 2023, real estate market was in extremely difficult time, purchasing power and liquidation had a sharp decline and there was a lack of cash flow, the amount of personal income tax (PIT) from real estate transfer activities plunged.
Improve processes and enhance experience to rebuild trust in life insurance

Improve processes and enhance experience to rebuild trust in life insurance

VCN - In Vietnam, the space and potential of the life insurance industry is still very large, so it is necessary to focus on implementing new solutions, improving product quality, and helping the market develop sustainably.
PM chairs meeting on fiscal, monetary policy management

PM chairs meeting on fiscal, monetary policy management

Prime Minister Pham Minh Chinh chaired a meeting in Hanoi on May 16 with ministries and agencies to discuss the coordination of fiscal and monetary policies aimed at maintaining macroeconomic stability, controlling inflation and promoting growth.
Many tax management solutions for e-commerce

Many tax management solutions for e-commerce

VCN - In Vietnam, the e-commerce market is increasingly growing and expanding with a diversity of operating models, many participants... posing great challenges for tax management.
Completely resolve problems and accelerate public investment disbursement

Completely resolve problems and accelerate public investment disbursement

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.
Mobile Version