With public investment disbursement in the first 7 months of the year only reaching more than 15%, from now until the end of the year, Ho Chi Minh City must "sprint" to reach the target of 95% through a series of flexible solutions.
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| Construction of Ho Chi Minh City Ring Road 3. Photo: Le Toan |
Disbursement is still sluggish
Although many solutions have been implemented to accelerate the disbursement of public investment since the beginning of 2024, after 7 months, the disbursement rate in Ho Chi Minh City is very low. The report of the Ho Chi Minh City People's Committee shows that by the end of July 2024, the City's public investment disbursement only reached VND 12,064 billion (15.2%). The disbursed capital has not met the requirements of the City's plan and the achievement rate is lower than the national average of 32.2%.
Transport infrastructure investment is the sector that receives the most public investment capital, but currently, a number of key projects are facing difficulties. Mr. Tran Quang Lam, Director of the Ho Chi Minh City Department of Transport, expressed his concern when the two major obstacles of public investment, planning and compensation for site clearance, were regularly resolved by Ho Chi Minh City leaders, but there have been few changes. With the current disbursement progress, the amount of capital disbursed this year is not equal to last year.
At the working session with the Prime Minister on August 10, Mr. Phan Van Mai, Chairman of the Ho Chi Minh City People's Committee, said that from the beginning of the year, the City planned to complete the procedures for compensation and site clearance and disbursement of capital in the second quarter of 2024. However, due to the adjustment of the effective time of the 2024 Land Law (effective from August 1, 2024) and the adjustment of the compensation calculation method in a more favorable direction for the people, therefore, to ensure the rights of the people, the City has developed a new compensation plan, so the disbursement is slower than the original plan.
Furthermore, regarding contractor selection, the 2023 Bidding Law will take effect from January 1, 2024. By the end of April, new guiding documents will be fully issued, thus extending the time for contractor selection and subsequent steps.
Not only that, some projects with large investment capital in Ho Chi Minh City are facing procedural problems and are in the process of coordinating with central ministries and branches to resolve them, so the allocated capital cannot be immediately disbursed, such as the Project to Solve Flooding Due to Tides in Ho Chi Minh City Considering Climate Change Factors (Phase I) with a disbursement plan of 6,800 billion VND; Metro Line 1 Project (Ben Thanh - Suoi Tien) with a total disbursement capital of 3,717 billion VND...
In addition, some urgent projects that need immediate investment are facing difficulties in the implementation process due to procedures for adjusting local planning. The implementation of these procedures must ensure the prescribed time (time for posting, time for collecting opinions from the community, etc.), so they have not met the progress and requirements for accelerating the disbursement of public investment capital.
And the most worrying thing, according to the Chairman of the Ho Chi Minh City People's Committee, is the shortage of soil and sand for foundation, affecting the progress and disbursement of many projects.
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Start sprinting
Faced with the sluggish disbursement of public investment capital, immediately after the end of the first 6 months of the year, Ho Chi Minh City reviewed and made a detailed disbursement plan for the remaining months. In which, the disbursed capital will gradually increase and "sprint" in the last months of the year. The set target is to disburse 20.4% by the end of August and 94.6% by the end of January 2025.
In particular, in the last months of the year, Ho Chi Minh City must spend tens of thousands of billions of VND. For example, from November to the end of December 2024, the City must disburse 32,200 billion VND. This capital is even double the public investment capital in 2024 that Dong Nai province was assigned.
To achieve the above goal, Ho Chi Minh City must implement many flexible solutions. The first is to proactively transfer capital from slow-disbursement projects to high-disbursement projects. Since the beginning of the year, the City has transferred capital in two phases with a total capital of more than VND 13,000 billion from low-disbursement projects to high-disbursement projects and arranged capital to start new construction of a number of urgent projects that have been approved for investment.
For projects that are waiting for relevant ministries, branches and agencies to resolve problems, the City will temporarily transfer capital from these projects to arrange for other projects that can be disbursed immediately. In addition, the City will continue to urge contractors to speed up implementation progress and shorten 30% of the time to process procedures for public investment projects; tighten discipline and order in disbursing public investment capital; and resolutely and strictly handle cases of delay.
In particular, the Chairman of the Ho Chi Minh City People's Committee requested investors to review and propose to the City to speed up the implementation of any projects that could be transferred to districts. Immediately after that, the Ho Chi Minh City Civil and Industrial Construction Investment Project Management Board proposed transferring 18 projects to the District and Thu Duc City Management Boards to implement, because the District and Thu Duc City Project Management Boards have many advantages in investment preparation, especially in planning adjustment.
Source: https://baodautu.vn/tphcm-chay-nuoc-rut-giai-ngan-dau-tu-cong-d222856.html
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