Accelerating the disbursement of public investment capital to create growth momentum

The conference is held in both in-person and online formats.

Also attending were Deputy Prime Ministers Le Minh Khai, Tran Luu Quang, Tran Hong Ha and Le Thanh Long; representatives of ministries, departments, branches, central agencies, corporations, state-owned enterprises and relevant units.

Delegates attending the conference at Lao Cai province.

Attending the conference at Lao Cai province were comrade Nguyen Trong Hai, member of the Provincial Party Standing Committee, Vice Chairman of the Provincial People's Committee; leaders of departments, branches, sectors and localities in the province.

According to the report of the Ministry of Planning and Investment, by July 10, 2024, ministries, central and local agencies had assigned detailed tasks and projects of VND 639.4 trillion, reaching 95.5% of the plan assigned by the Prime Minister. The remaining capital that has not been allocated in detail is VND 29.9 trillion (central budget capital is VND 8.2 trillion; local budget capital is VND 21.7 trillion). The estimated disbursement from the beginning of the year to June 30, 2024 is VND 196.7 trillion, reaching 29.39% of the plan assigned by the Prime Minister, lower than the same period in 2023.

Of which, 11/44 ministries, central agencies and 35/63 localities have disbursement rates above the national average. The disbursement rate of capital under the Socio-Economic Recovery and Development Program has had its implementation period extended and disbursement reached 78.23% of the plan. The disbursement rate of public investment capital under the 3 national target programs reached 35.43%, higher than the national average (29.39%), significantly improving compared to the same period in 2023.

Up to now, Lao Cai province has allocated 5,172/5,212 billion VND, reaching 99.23% of the plan, the remaining 40 billion VND has not been allocated from the local budget deficit capital (re-loan capital). In the first 6 months of 2024, Lao Cai province has drastically implemented solutions to accelerate the disbursement of public investment capital; the value of capital disbursement according to the decisions assigned by the Prime Minister at the beginning of the year reached 2,827/5,212 billion VND, reaching 54% of the plan, 14% higher than the same period. Lao Cai province strives to complete the public investment capital disbursement plan assigned by the Prime Minister by the end of 2024.

At the conference, leaders of a number of central and local ministries, branches, enterprises and state-owned corporations with a disbursement rate of public investment capital above the national average (Ministry of Agriculture and Rural Development, Ministry of Transport, Tien Giang province, Thanh Hoa province, ACB, EVN...) shared some good experiences and effective disbursement solutions such as: Allocating and assigning capital plans early; focusing on project management, closely following progress to ensure compliance with the actual situation, especially thoroughly resolving difficulties and problems; selecting contractors with real capacity to implement the project; establishing a working group headed by the Standing Committee of the Provincial People's Committee to regularly urge the implementation progress; transferring capital from one project to another internally to ensure regulations; promptly implementing the work of capital settlement; advancing capital from the Development Investment Fund for implementation...

Prime Minister Pham Minh Chinh speaks at the conference (photo captured via online screen).

Speaking at the conference, Prime Minister Pham Minh Chinh emphasized: 2024 is of extremely important significance, a year of acceleration and breakthrough to successfully implement the goals and tasks of the 13th National Party Congress and the 5-year socio-economic development plan 2021 - 2025. In which, public investment is always identified as a key political task, playing a particularly important role in terms of economy, politics, society, national defense and security; both urgent and strategic and a key task to contribute to promoting growth, stabilizing the macro economy, ensuring major balances of the economy...

The Prime Minister requested that in the coming time, ministries, branches, units and localities need to continue to seriously implement the telegrams, directives and guiding documents of the Government, the Prime Minister, central ministries and branches in the disbursement of public investment capital according to the motto: "Leadership from top to bottom, solving difficulties from bottom to top". In leadership, direction, operation and implementation, there must be high determination and great efforts; assigning tasks with focus, key points, clear people, clear work, clear responsibilities, clear time, clear products, clear results, to facilitate inspection, supervision, evaluation, easy reward, criticism and discipline, and complete each task. In particular, it is necessary to implement "5 accelerations" and "5 guarantees" in the disbursement of public investment capital; only discuss doing, not backtracking; individualize responsibilities...

Prime Minister Pham Minh Chinh also directed and assigned specific tasks to relevant ministries, branches, localities and units to promote public investment more quickly, promptly and effectively in the last months of 2024, striving to complete all set targets and plans.

Source: https://baolaocai.vn/day-nhanh-tien-do-giai-ngan-von-dau-tu-cong-de-tao-dong-luc-tang-truong-post387055.html