According to the report of the Ministry of Finance, the disbursement rate of investment capital in the first 10 months of 2024 nationwide only reached 52.29% of the plan assigned by the Prime Minister, about 4% lower than the same period in 2023 (56.74%), not meeting the requirements. Notably, there are 33 ministries, branches and 22 localities with a 10-month disbursement rate below the national average.
Notably, there are some ministries and central agencies with very low disbursement rates such as: Vietnam Cooperative Alliance (0%), Ethnic Committee (1.12%), Central Committee of Vietnam Fatherland Front (1.35%), Ho Chi Minh City National University (5.01%), Hanoi National University (9%), Ministry of Foreign Affairs (10.03%)... Some localities have low disbursement rates such as: Ho Chi Minh City (19.63%), Phu Yen (24.63%), Kon Tum (27.45%), Quang Ngai (27.98%)...
The disbursement rate of investment capital in the first 10 months of 2024 nationwide only reached 52.29% of the plan assigned by the Prime Minister (Illustration photo: KT)
According to the Ministry of Finance, the overall disbursement rate of the whole country is lower than the same period in 2023, especially local budget capital. Some bottlenecks that slow down the disbursement progress of public investment capital have been reported by the Ministry of Finance to the Prime Minister in monthly periodic reports focusing on difficulties affecting the process of completing project investment procedures; planning and allocation; and implementation organization.
Speaking to the press on the sidelines of the National Assembly, delegate Duong Khac Mai (National Assembly Delegation of Dak Nong Province) said that public investment has a very important position and role in leading the economy. If public investment capital is disbursed well, it will create momentum for economic growth, even breakthroughs.
According to delegate Mai, there are many reasons for slow public investment, but the most fundamental reason is responsibility; including the responsibility of levels and sectors that have been assigned tasks but have not yet implemented them vigorously. In addition, part of the reason is due to institutions.
“General Secretary To Lam said that the institution is the biggest bottleneck and the bottleneck of “bottlenecks”. During this session, the National Assembly is also implementing a law amending many laws to overcome these bottlenecks. This is a very positive solution,” said delegate Duong Khac Mai, adding that “it is necessary to strongly decentralize and delegate power and assign ministries, branches and localities to be responsible for the assigned powers”.
Delegate Duong Khac Mai (National Assembly Delegation of Dak Nong Province)
The Dak Nong delegation representative said that the fear of responsibility must be “thoroughly treated”. Regarding the disbursement of public investment capital, it is related to laws and regulations of sectors and levels. Therefore, it must be transparent, clear and decentralized along with resource allocation and close supervision.
“Especially the “disease” of fear of responsibility, in my opinion, needs to be reviewed to thoroughly overcome this problem, but the institutions and regulations must also be ensured so that the subjects can feel secure in performing their duties in accordance with the provisions of the law,” delegate Duong Khac Mai emphasized.
According to Mr. Mai, institutions and regulations need to ensure clear visibility and ease of implementation, and legal regulations need to be strict, transparent and ensure the implementation process.
“I hope that this session will remove institutional bottlenecks to promote the disbursement of public investment capital in the coming time. And after the Law on Public Investment (amended) with the most open-minded approach, the new law amendment will come into effect and new public investment will be implemented effectively, contributing to the country's socio-economic growth,” said the delegate from Dak Nong.
Institutional solutions must be found to remove "bottlenecks" to promote development.
Commenting on the economic growth target of over 7% in 2025, delegate Tran Van Tien (National Assembly Delegation of Vinh Phuc Province) said that this is a very high level, because Vietnam's economic growth rate is recovering slowly. At the same time, in 2024, Vietnam will face many difficulties due to natural disasters, storms and floods; the Government has also implemented many policies to exempt, reduce or extend debt. Therefore, it is undeniable that the economy will still have difficulties in achieving the growth target as planned.
To achieve this goal, the Government and ministries, branches and localities need to be more determined and make more efforts in resolving difficulties and obstacles for socio-economic development in 2025.
Delegate Tran Van Tien (National Assembly Delegation of Vinh Phuc province)
“The solution to achieving the growth target must first be to remove institutional barriers, because all problems originate from institutions, thereby removing “bottlenecks” to promote development. Ministries, branches, localities as well as the Government need to pay attention to urging the implementation of the goals of the 2025 plan,” said delegate Tran Van Tien.
Sharing the same view, delegate Nguyen Thi Yen (National Assembly Delegation of Ba Ria - Vung Tau province) said that in 2024, the world situation continues to face many difficulties and challenges, but under the leadership of the Party, the decisions of the National Assembly, the dynamic, creative, close and timely management of the Government and the Prime Minister, it is expected that the whole year will achieve and exceed 14/15 main targets, GDP growth is estimated at 6.8 - 7%, and state budget revenue is estimated to increase by over 10%.
According to the female delegate, Vietnam is highly appreciated by international organizations for its sustainable development and flexible management capacity of the Government. It is forecasted that Vietnam will be among the top 10 fastest growing economies in the world, affirming Vietnam's prominent role in the region and internationally. In the last months of the year, many provinces and cities across the country suffered heavy damage from storms No. 3 and No. 6. The Government quickly directed the prevention, avoidance, and minimization of human and property damage.
However, delegates suggested that the National Assembly and the Government need to have specific mechanisms and policies, and continue to implement solutions to help localities and people restore their livelihoods, stabilize their lives, and rebuild affected areas, ensuring growth.
Source: https://vov.vn/kinh-te/dbqh-thao-go-vuong-mac-tu-the-che-moi-co-the-but-pha-tang-truong-post1137160.vov
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