Disbursement of public investment capital nationwide currently reaches 52.29% of the plan, lower than the same period in 2023 (56.74%), posing significant challenges for the last months of the year.
In the face of a slowing down trend in capital disbursement speed Public investment, in addition to existing directives, on October 8, 2024, the Prime Minister continued to issue Official Dispatch No. 104/CD-TTg on urging the promotion of public investment capital in the last months of 2024.
Along with this extremely drastic direction, in the resolution of the regular Government meeting in October 2024, the Government once again emphasized the focus on implementing synchronous and breakthrough solutions in disbursing public investment capital as one of the key and focal solutions to complete and exceed the most important economic targets of the 2024 growth year.
Public investment has been identified as one of the most important growth drivers of the economy for many years. Experts from foreign financial and economic organizations at many economic forums held in Vietnam, in their policy recommendations for Vietnam, all share the same view on the role of promoting public investment, including accelerating the disbursement of public investment capital, especially for key projects with spillover effects and the ability to turn the situation around.
In the Official Dispatch No. 104/CD-TTg, a particularly important content that needs to be thoroughly understood by ministries and local branches is to identify the disbursement of public investment capital as one of the top important political tasks of all levels and branches, contributing to promoting economic growth, creating new development space, reducing logistics costs, creating jobs and livelihoods for people.
Therefore, in addition to the strong direction of the Government leaders, the strong participation of leaders of ministries and branches, especially local leaders, is indispensable. It is also unacceptable to continue the situation of "hot above, cold below" in promoting the role of public investment as well as the lack of implementation solutions and coordination at the grassroots level in accelerating the disbursement of public investment capital.
Here, the key and drastic tasks for the remaining time of 2024 have been pointed out very clearly by the Prime Minister. That is to continue to closely follow the guiding viewpoints of the Government and the Prime Minister, especially Directive No. 26/CT-TTg dated August 8, 2024 of the Prime Minister, in which to resolutely direct, operate, and implement "5 determinations", "5 guarantees" in the implementation organization, with the motto "overcoming the sun, winning the rain, not losing to the wind and storm", "eating quickly, sleeping urgently", "working in 3 shifts, 4 shifts", "working on holidays, Tet holidays", "only discussing work, not discussing back" to perfect institutions and policies, strengthen discipline, discipline, promptly remove bottlenecks and obstacles in the implementation organization, promote the disbursement of public investment capital in 2024. Successful lessons from the complete completion 500kV line circuit 3 has made this problem clear.
Along with that, the situation requires Party committees and authorities at all levels to have high determination, great efforts, drastic, specific and effective actions; assign tasks clearly to people, tasks, responsibilities, progress and results; focus on urging, inspecting and supervising, proactively and promptly handling difficulties and problems within their authority or reporting and proposing to competent authorities for handling according to regulations.
Obviously, time is very urgent when there are only about 40 days left until the end of 2024. To disburse 95% of the committed capital, great efforts must be made, working day and night, procedures must be timely, strictly ensured and especially there must be no loss or waste. Therefore, ministries, branches and localities continue to uphold the spirit of the rule of law, enhance the sense of responsibility, overcome all difficulties to implement the disbursement of public investment capital with the highest results.
To resolve legal problems related to the disbursement of public investment capital, the Government has submitted to the National Assembly for consideration and promulgation a law amending four laws related to public investment with new and progressive regulations, aiming to promote decentralization and delegation of authority in the implementation of public investment projects in the spirit of "locality decides, locality does, locality is responsible".
Time clearly does not wait for us. Accelerating the disbursement of public investment capital is now the imperative of economic growth and requires high concentration in implementing flexible, creative, timely and effective measures and solutions; drastic and highly determined in directing and operating, clearly assigning people, tasks, responsibilities, progress and results; strengthening discipline in disbursing public investment capital; focusing on inspection and supervision work, promptly removing bottlenecks and obstacles in implementation.
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