Accelerating disbursement of public investment capital to boost the economy

Việt NamViệt Nam03/12/2024



DNVN – Deputy Prime Minister Bui Thanh Son requested ministries, branches and localities to strengthen discipline, strictly handle organizations and individuals that slow down progress, and focus on removing difficulties to achieve the target of disbursing over 95% of public investment capital in 2024.

The Government Office has just issued Notice No. 542/TB-VPCP, the conclusion of Deputy Prime Minister Bui Thanh Son at the meeting of Working Group No. 5 on inspecting, urging, removing difficulties and obstacles, and promoting the disbursement of annual public investment capital at ministries, agencies and localities.

The announcement stated that 2024 is of great significance, being the year of acceleration to implement the goals of the 13th National Congress and the Socio-Economic Development Plan for the 2021-2025 period. In particular, public investment is identified as a key task, playing a special role in promoting economic growth, stabilizing the macroeconomy and ensuring major balances of the economy. The Government and the Prime Minister have directed strongly from the beginning of the year to accelerate the disbursement of public investment capital.

The Government requires ministries and local branches to focus on removing difficulties to achieve the target of disbursing 95% of public investment capital by 2024.

The Deputy Prime Minister acknowledged the efforts of some localities that achieved good disbursement results such as Tien Giang, Long An, Tra Vinh, An Giang, Dong Thap, etc. These results significantly contributed to the socio-economic development of the localities and the whole country. However, there are still many ministries, agencies and localities with low disbursement rates compared to the national average.

The main reasons include: ineffective application of legal policies, limitations in project management and investor capacity, difficulties in legal procedures, delays in compensation, site clearance and land origin determination. Some ministries, branches and localities have not been resolute in directing and operating, leading to confusion in many stages of implementation.

Strengthen inspection and handling of problems

To achieve the target of disbursing over 95% of public investment capital in 2024, the Deputy Prime Minister requested ministries, branches and localities to strictly implement the Government's instructions. Units need to proactively research and propose flexible and creative measures, focus on handling difficulties within their authority and closely coordinate to remove obstacles.

Working groups led by local leaders need to increase on-site inspections and monitor progress. At the same time, it is necessary to review and transfer capital from slow-disbursement projects to more feasible projects according to regulations.

The Deputy Prime Minister requested strict sanctions against investors, project management boards, organizations and individuals who deliberately delay the progress of capital allocation, implementation and disbursement of public investment capital. Weak officials must be replaced and negative and corrupt behaviors must be dealt with resolutely.

In addition, coordination between ministries, central and local agencies needs to be strengthened to advise on appropriate solutions, while effectively managing and using ODA loans.

Prioritize site clearance and stabilize material prices.

To speed up the progress of public investment projects, localities need to focus on site clearance, ensuring that projects do not wait for site clearance. Issues related to mining and raw material exploitation licenses also need to be resolved promptly, while construction material prices need to be announced clearly and transparently.

The Deputy Prime Minister also requested the mobilization of political and social forces and local authorities to propagate and encourage people to support the site clearance work and promptly hand over to the construction unit.

The Ministry of Planning and Investment and the Ministry of Finance are assigned to closely monitor disbursement progress, summarize difficulties in implementing legal regulations on public investment to study and propose amendments to the Law on Public Investment.

In addition, other ministries such as the Ministry of Construction, the Ministry of Transport, and the Ministry of Science and Technology need to coordinate to ensure the supply of construction materials and effectively use the Science and Technology Innovation Fund, promoting the progress of key national projects.

The Prime Minister signed Decision No. 1006/QD-TTg to establish 7 Working Groups to inspect, urge, remove difficulties and obstacles, and promote annual public investment capital at ministries, central agencies and localities.

Working Group No. 5, headed by Deputy Prime Minister Bui Thanh Son, inspected ministries and central agencies: Ho Chi Minh National Academy of Politics, Ministry of Foreign Affairs, Ministry of Industry and Trade, Ministry of Science and Technology, Vietnam Academy of Science and Technology, Vietnam Electricity Group, Vietnam Union of Science and Technology Associations; and localities: Long An, Tien Giang, Ben Tre, Tra Vinh, Vinh Long, Can Tho city, Hau Giang, Soc Trang, An Giang, Dong Thap, Kien Giang, Bac Lieu, Ca Mau.


Long Trang

Source: https://doanhnghiepvn.vn/kinh-te/siet-giai-ngan-von-dau-tu-cong-de-thuc-day-kinh-te/20241203051823878


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