Disbursement of public investment in Ho Chi Minh City: Worrying

The above information was given by many representatives of departments and branches at the meeting on the socio -economic situation in the first 10 months of the year organized by the Ho Chi Minh City People's Committee on October 31.

Ho Chi Minh City is trying to speed up disbursement of public investment for projects.

Public investment disbursement continues to be slow

Reporting on the public investment disbursement rate, Mr. Pham Trung Kien - Deputy Director of the City Department of Planning and Investment said: As of October 25, the city's public investment disbursement rate is still low, reaching only 17,272 billion VND, reaching 21.8% of the assigned capital. This result is lower than the target set by the units at the beginning of the year, which is to disburse 29% after 10 months. According to Mr. Kien, some groups of projects related to public investment cannot be implemented, such as: the flooding and tide group is proposing to the Central Government with a total value of 10,000 billion VND; the planning adjustment group is 4,000 billion VND; the compensation and site clearance group is 30,000 billion VND including: Xuyen Tam Canal, North Bank of Kenh Doi - is completing compensation for disbursement at the end of the year.

Mr. Tran Phuoc Tuong - Deputy Director of the Ho Chi Minh City Statistics Office also affirmed that the city's public investment disbursement is low, even recorded in October, the rate of public investment disbursement has decreased. In the first 10 months of 2024, the investment capital implemented from the state budget in the city is estimated to decrease by 2.3% over the same period, the disbursement rate only reached 21.8% of the Plan. Mr. Tuong cited that the capital for basic construction and major repairs from the state budget managed by the locality is estimated to reach VND 4,759.3 billion in October 2024, down 0.7% over the previous month and down 14.4% over the same period. Of which, the capital managed by the city budget is estimated to be VND 4,755.2 billion, down 13.9% over the same period; District-level budget capital is estimated to be 4.1 billion VND, equal to 11.4% over the same period (because the District-level budget capital plan in 2024 is only 16.8% of that in 2023).

According to Mr. Tuong, in the first 10 months of 2024, the capital for basic construction and major repairs from the city budget managed by the locality is estimated at VND 34,868.1 billion, down 2.3% over the same period. Of which, the capital managed by the city is estimated at VND 34,823.4 billion, down 1.5% over the same period; the capital from the district budget is estimated at VND 44.7 billion, equal to 12.8% over the same period, reaching only 39.8%. "Promoting the disbursement of public investment capital is considered an urgent task of the city in the last months of 2024" - Mr. Tuong said.

"Sprint" to disburse public investment

Explaining the reason for low public investment disbursement, the representative of the city's Department of Planning and Investment affirmed that during the implementation process, the city had some subjective difficulties and problems such as: changes in some related laws such as: Land Law 2024, Bidding Law 2023, Decree No. 35,... depending on the progress of resolving difficulties and problems in procedures under the authority of the Central Ministries and branches, procedures for compensation and site clearance, procedures for planning adjustment... Clarifying the problems in compensation and site clearance, Mr. Vo Trung Truc - Deputy Director of the Department of Natural Resources and Environment said that in 2024, the whole city had 176 projects in this group. When the new Land Law took effect, a number of projects increased their total investment capital due to accompanying regulations and policies to support more affected households. “The total capital for these projects has increased to more than VND32,000 billion. When the new Land Law is applied, the city will focus on disbursing more than VND32,000 billion for this group of projects in November and December. By the end of the disbursement period, these projects will reach more than 96% of the plan,” Mr. Truc explained.

Concerned about the public investment rate, Mr. Nguyen Van Dung - Vice Chairman of the Ho Chi Minh City People's Committee emphasized: "Public investment is still slow and low compared to the plan, although there have been many discussions and urgings. The city's leaders also directly went to each project and listened to the difficulties and problems of the units. Each investor, district and Thu Duc City also proposed specific solutions, with determination and roadmap, but the disbursement rate is still not as expected". To promote the disbursement of public investment capital of the city, in the first 10 months of the year, the City People's Committee has deployed and thoroughly implemented many key solutions in the remaining months of the year and directed the handling and removal of each specific project to speed up the implementation progress and disbursement of capital. In particular, focusing on reviewing, updating and adjusting the detailed disbursement plan for each week and month with detailed list of each project and the disbursed capital for each week and at the same time strictly reminding the units that have not strived to disburse capital to achieve the common goals of the city.

In order to promote economic growth and public investment disbursement, the Ho Chi Minh City People's Committee has just issued a 60-day and night peak emulation plan "Determination to accelerate, double productivity" to strive to complete the socio-economic targets in 2024. This plan requires collectives to continue to strive to successfully implement the goals and tasks of socio-economic development for the 5 years (2020 - 2025) and the city's key programs, works and projects. Along with that, focus on removing obstacles, determined to promote the progress of public investment disbursement in 2024, striving to achieve a rate of 95% according to the plan and according to the commitments of the units. The emulation period is held from November 1 to December 31, with participants being agencies, units and localities in the city.

Source: https://daidoanket.vn/giai-ngan-dau-tu-cong-tai-tphcm-dang-lo-ngai-10293561.html