Online conference with localities on the disbursement of public investment from foreign capital sources

On May 21, the Ministry of Finance held an online conference with localities on the disbursement of foreign capital public investment in the first months of 2024 and measures to increase disbursement in 2024. Attending at the Ninh Thuan bridge were representatives of leaders of a number of relevant departments, branches and units.

According to reports from central ministries and data from the Tabmis system (Budget and Treasury Management Information System), as of May 15, the disbursement rate of public investment from foreign capital sources of ministries and branches only reached 8.58% of the assigned capital plan. Disbursement of foreign capital by localities reached 5.7% of the assigned capital plan (including allocated and re-borrowed capital plans), 4.9% higher than the same period in 2023. Of which, 5/53 localities had a disbursement rate of over 15%, 28/53 localities had not yet disbursed additional targeted central budget capital for local budgets.

Representatives of leaders of a number of departments, branches and units attended the conference at the Ninh Thuan province bridge.

In Ninh Thuan province, as of May 15, foreign capital had been disbursed VND 125.2 billion, reaching 16.48% of the plan. Of which, the Sustainable Environment Project - Phan Rang-Thap Cham City Sub-project disbursed VND 34.57 billion, reaching 7.9%; the project to improve water use efficiency for drought-affected provinces (ADB8) disbursed VND 83.48 billion, reaching 29.5% of the plan; the project to enhance the resilience of small-scale agriculture to water security due to climate change in Ninh Thuan province (SACCR Ninh Thuan) disbursed VND 7.14 billion, reaching 20.4% of the plan. The projects strive to disburse 100% of the assigned plan by the end of 2024.

At the Conference, localities discussed and raised a number of difficulties, shortcomings, limitations, causes and proposed solutions to promote the disbursement of foreign-funded public investment capital of the Government in 2024.

To increase the disbursement rate of public investment capital in the coming time, the Ministry of Finance recommends that localities need to conduct detailed and specific reviews and assessments of the disbursement capacity of each project, paying special attention to projects whose planning year is the final disbursement year to ensure sufficient capital for the projects, avoiding the need to extend disbursement, extend implementation time, and generate many administrative procedures. For cases where it is impossible to complete the project volume according to the set schedule, it is necessary to cut down and transfer the assigned capital plan before June 30. For projects with problems in investment preparation and project implementation, localities and project management boards are responsible for urgently completing procedures on investment, construction, resettlement, and site clearance to implement the project; completing technical designs, resolving difficulties and problems in contract bidding; promptly handling problems arising in each stage of project implementation.

Mr. Tuan

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