State Treasury promotes public investment disbursement

	Many information channels to listen to clients' opinions about the State Treasury
	The State Treasury prepares technical plans to perform closing the books

The Tuyen Quang - Phu Tho expressway project is in the completion stage to be inaugurated on December 24. Illustrative photo.

According to the Sate Treasury, by the end of January 2024, the accumulated investment disbursed in 2023 by the State Treasury is estimated at VND 642,865.5 billion, meeting 96.2% of the target assigned by the Prime Minister, increasing VND 139,480.5 billion in value year-on-year and 3.1% compared with the capital plan assigned by the Prime Minister. This fingures also meet 86.6% of the capital plan assigned by the Prime Minister and the Provincial People's Committee.

The Goverment sets the goal of public investment disbursement to reach at least 95% of the 2023 plan. The State Treasury estimates that if the State Treasury achieves the goal in the more than one remaining month of the year, it will be the positive result because the domestic and global economy stilll fluctuates; the public investment disbursementm is recognized as a driving force for socio-economic development. The Government and the Ministry of Finance have also given directions and solutions to promote the public investment disbursement and considered the work as one of the most pivotal political tasks of all levels and agencies.

To implement these directions, the State Treasury has implemented solutions to foster public investment disbursement. Specifically, the State Treasury continues to focus on directing and operating the State Treasury system to strengthen the control of public expenditures via the State Treasury and improve responsibility for officers.

According to the State Treasury, the control and payment must be strictly implemented and comply with regulations. Right from the first months of 2023, the General Director of the State Treasury issued a directive directing the State Treasury system to strengthen expenditure control and improve the quality of customer service in payment transactions of the State Treasury system.

In August, the State Treasury issued an official dispatch directing the State Treasury system to perform tasks under the Prime Minister's telegram on accelerating the public investment disbursement in the last months of the year. In the last days of this year, the State Treasury’s leader issued instructions on strengthening expenditure control, meeting budget payment needs in the last months of 2023 and in 2024.

In 2023, the State Treasury has cooperated with the Department of Investment (Ministry of Finance) to check, grasp and urge the public investment disbursement in some localities. Through the inspection, the State Treasury grasped the disbursement status of localties, thereby proposing solutions to remove difficulties and obstacles.

Recognizing and appreciating the coordination in promoting the public investment disbursement, Mr. Duong Ba Duc, Director of the Department of Investment (Ministry of Finance) said that the State Treasury has applied information technology in managing public investment disbursement, helping to effectively collecting data on projects with low disbursement rates to report to the Ministry of Finance and localities, thereby providing solutions to expedite progress of these projects. In addition, the State Treasury has performed well expenditure control and regular reporting regime for administration.

However, frankly recognizing difficulties still affecting the public investment disbursement, some units still see the low disbursement rates that have not yet met requirements, the State Treasury General Director Tran Quan directed the State Treasury units to coordinate closely with ministries, agencies and localities to promptly resolve problems and difficulties, and foster the disbursement in 2024.

Accordingly, in 2024, the State Treasury will promptly grasp problem in controlling and paying for public investment, and instruct the State Treasury system to implement the task in accordance with regulations. At the same time, the regulator will enhance electronic transactions with the online public service system to ensure the principles of clarity, honesty, safety and efficiency; meet requirements for operational processes and technical standards in electronic transactions; provide information about time and process of receiving documents, payment control, enhance transparency in checking payment documents of the State Treasury, minimize payment risks, improve efficiency of expenditure control and use of state budget capital.

The State Treasury will also continue to cooperate with units to review and report to competent authorities to improve mechanisms and policies on procedures for public expenditure control towards reforming administrative procedures, simplifying processes and connecting and sharing data between ministries and agencies and linking between the State Treasury and state budget users, contributing to speeding up the public investment disbursement. The State Treasury will also improve responsibility in performing public duties, and will not cause trouble or harassment to customers when making payment procedures at the State Treasury.

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