Ministry of Finance publicly discloses public investment projects with 0% disbursement plan

The Ministry of Finance requested local leaders to direct investors, departments, branches and relevant agencies to review and speed up the implementation of projects.

On May 16, information from the Ministry of Finance said that this agency has just issued Official Dispatch No. 4848/BTC-DT to the People's Committees of provinces and centrally-run cities on publicizing projects disbursing 0% of the 2024 public investment capital plan from the central budget (domestic capital) managed by localities.

According to the Ministry of Finance, the total central budget capital plan by sector and field managed by localities is VND82,243 billion. By the end of March 31, new projects had disbursed VND8,634 billion, reaching 10.5% of the assigned capital plan. This level is lower than the general disbursement rate of the whole country (12%). By April 30, there were many projects nationwide with a disbursement rate of 0% compared to the plan assigned by the Prime Minister.

Therefore, the Ministry of Finance has publicized the disbursement status of the 2024 public investment plan of 316 projects and sub-projects with a disbursement rate (as of April 30) of 0% in 48 localities. The purpose is for localities to grasp the disbursement status of public investment capital of each project. This will be the basis for the Chairman of the Provincial People's Committee to promptly and proactively deploy solutions to direct and urge the progress of implementation and disbursement of public investment capital in 2024 to strive for the highest results (over 95% of the plan assigned by the Prime Minister).

To achieve this goal, the Ministry of Finance requests the People's Committees of provinces and centrally run cities to seriously and drastically implement solutions to promote the disbursement of public investment capital from all capital sources (central budget, local budget and additional capital sources outside the plan prescribed by the Government in the Resolution on tasks and solutions to implement the socio-economic development plan and the State budget estimate for 2024 and regular meetings) and the directions of the Government leaders and the Prime Minister on accelerating the allocation and disbursement of public investment capital in 2024.

In addition, the Ministry of Finance requested local leaders to direct investors, departments, branches and relevant agencies to review and accelerate the progress of project implementation. The work of controlling and paying public investment capital and capital disbursement procedures at projects that have not been disbursed and have low disbursement rates (higher than the average disbursement rate of the whole country that the Ministry of Finance has announced monthly) needs to be strengthened. Furthermore, local leaders also need to proactively review and transfer capital according to their authority between projects that are unable to disburse or are slow to disburse to projects with better disbursement capacity, need additional capital and cases beyond their authority, and request to send to relevant ministries for synthesis according to regulations.

On the other hand, the Ministry of Finance recommends that the implementation of advances, recovery of advances, acceptance, and payment of investment capital must be done in accordance with regulations and as soon as there is volume, but must ensure compliance with Government regulations, effective use, and avoidance of loss and waste of allocated State budget capital./.

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