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PM urges action to accelerate public investment disbursement

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HCMC – More drastic moves must be taken to cope with the sluggish disbursement of public capital, as multiple national and social issues will be affected by such tardiness, stated Prime Minister Nguyen Xuan Phuc during a web conference with ministries, State agencies and localities nationwide today, August 21.

He made the statement at the event reviewing public investment disbursement activities this year until August and discussed major measures to speed up the capital disbursement for the rest of the year.

The Government had sent many inspection teams to localities with projects funded by the State budget to check their progress. Scores of measures had also been introduced to speed up capital disbursement and remove obstacles facing the projects. Accordingly, localities must act to address the issue instead of keeping the solutions under discussion, the Government leader said.

He stressed that any locality causing the slow disbursement of public capital must be tackled seriously.

According to Nguyen Chi Dung, Minister of Planning and Investment, 52 of 53 ministries, central State agencies and all of the 63 localities nationwide have plans to allocate the State budget for 2020 in line with regulations in the Law on Public Investment and the National Assembly’s resolutions on the State budget for this year.

However, only 38 ministries, central State agencies and 43 localities assigned 100% of capital plans for projects; five other ministries, agencies and 15 localities handed over 90% of capital plans for projects; the remaining nine ministries, agencies and five localities provided less than 90% of capital plans, Dung said.

The total amount of the State budget that ministries, agencies and local authorities pledged to offer to projects being eligible for capital disbursement reached over VND455 trillion, meeting 95.4% of the target.

The remaining amount of undisbursed capital at some VND22 trillion includes VND15.8 trillion from the State budget and VND6.2 trillion from the localities’ budget.

To date, nine ministries, agencies and nine localities have suggested giving back capital plans to make adjustments to those of other ministries and localities, with a total capital of VND6.3 trillion. Meanwhile, the ministry received proposals from seven ministries, agencies and 31 localities to revise the upward public capital for their projects at VND13.5 trillion, Minister Dung said.

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