Slow disbursement of public investment funds from foreign sources.

A view of the conference at the Quang Nam venue. Photo: Q. VIET

According to a report by the Ministry of Finance , as of November 30, 2024, the disbursement rate of public investment capital from foreign loans was higher than the same period in 2023 (30.3% compared to 24.89% in the same period of 2023). However, despite the lower allocated capital compared to 2023, localities did not fully allocate the planned capital to projects.

According to the Ministry of Finance's monitoring, the main reasons are that the projects no longer require disbursement or have not completed the necessary adjustment procedures, thus lacking a basis for capital allocation. Regarding disbursement, only 6 out of 53 localities have a disbursement rate exceeding 60%, and notably, 5 out of 53 localities have not disbursed any capital for the 2024 plan.

According to data from the Ministry of Finance, as of the end of November 2024, the disbursement rate of public investment capital from foreign sources by ministries and sectors only reached 39.06% of the plan. Of these, two ministries, Transport and Communications and Natural Resources and Environment, had disbursement rates exceeding 50%. However, four ministries – Education and Training, Construction, Labor, Invalids and Social Affairs, and Health – have yet to disburse their allocated capital. This poses a significant challenge in achieving the government's target of at least 95% disbursement of planned capital.

According to analyses by ministries and agencies, the main reasons for slow disbursement are delays in land clearance, with many projects facing difficulties in compensation and land acquisition. Prolonged bidding and technical design processes, along with inconsistent bidding procedures, cause delays. Multiple adjustments to investment policies, with many projects requiring changes to loan agreements, prolong the approval time. Slow responses from donors, delays in processing tender documents, and slow revisions to loan agreements from foreign partners also contribute to the problem.

Mr. Hoang Hai, Deputy Director of the Department of Debt Management and External Finance (Ministry of Finance), believes that to accelerate the disbursement of foreign public investment capital, closer coordination is needed between ministries, sectors, localities, and investors to complete procedures, disburse capital, and effectively implement projects. At the same time, the responsibilities of each official need to be clearly defined to ensure high disbursement targets are met.

Based on the proposals from ministries, departments, and localities, the Ministry of Finance will compile them and report them to the competent authorities for consideration and resolution.

Source: https://baoquangnam.vn/cham-giai-ngan-dau-tu-cong-von-nuoc-ngoai-3145244.html