Public investment disbursement reached 45,866 billion VND, Ho Chi Minh City completed 67% of the target

On the morning of January 13, Ho Chi Minh City held a conference to review the implementation of the public investment plan in 2023 and deploy the public investment plan in 2024.

According to Mr. Mai, the Standing Committee of the City Party Committee identified public investment disbursement as a key task in 2023, with the assigned capital of over 68,000 billion VND, accounting for about 10% of the total public investment capital of the whole country.

As of January 12, 2024, Ho Chi Minh City has disbursed VND 45,866 billion, accounting for 67%.

Chairman of Ho Chi Minh City Phan Van Mai. (Photo: Hoang Tho)

"Although the disbursement rate has not reached the set target, this is a remarkable result," said Mr. Mai.

The Chairman of the Ho Chi Minh City People's Committee said that to achieve this result, the units have made great efforts, especially the district block, Thu Duc City with 21 units over 90%. Of which, 16 units disbursed over 95%. The department block has 20 units disbursing public investment over 95%, 12 units disbursed from 80 - 95%.

“ Land clearance, compensation and resettlement support are difficult tasks for districts. Besides, they have to be in charge of their own projects, but 21/22 units have disbursed over 90%,” Mr. Mai shared.

In addition to the units that have done well in disbursing public investment, Mr. Mai said that there are still many units with low disbursement rates and many limitations in public investment tasks. Mr. Mai suggested seriously assessing all difficulties and shortcomings in the implementation of public investment disbursement tasks in 2023 and discussing key tasks and solutions in 2024.

Among the tasks that need to be focused on in 2024, the Chairman of Ho Chi Minh City raised the issue of handling contractors with poor capacity, procrastination, and contract violations. This situation has occurred in the city's projects in the past, including ODA (foreign capital) projects and public investment projects.

" We have handled the responsibility of the administrative agency, the leading officials, and the investor. Now, we need to handle the related parties, including the contractor, who affected the project's progress," Mr. Mai emphasized.

According to Mr. Mai, the issue of investment procedures for projects is also one of the reasons for prolonging implementation time, hindering public investment disbursement. Therefore, departments, branches and localities need to discuss ways to adjust and change to shorten project preparation time.

" When there is a policy, developing a project, approving the project, and implementing the project takes a lot of time. We need to see which processes and procedures can be shortened. But above all, we need to adjust our sense of responsibility and focus on implementation to achieve results," the Chairman of Ho Chi Minh City expressed.

At the conference, Mr. Phan Van Mai also asked the units to raise difficulties and obstacles in the appraisal and approval of land price adjustment coefficients and the determination of compensation land prices close to market prices. This is to create high consensus among the people, especially for land interspersed with agricultural land.

The head of the Ho Chi Minh City government analyzed that according to the first quarter statistics of the past 3 years, the disbursement rate has been decreasing year by year. In 2023, only 1,600 billion/68,000 billion was disbursed, so Ho Chi Minh City is determined that the first quarter of 2024 will disburse at least equal to the first quarter of 2021, which is 12%, striving for 12-15%.

" Therefore, we need to find solutions and start implementing them right from the beginning of the year," Mr. Mai shared.

Hoang Tho

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