In 2025, Ho Chi Minh City will continue to persevere in its goal of disbursing 95% of public investment capital, even though the capital allocated this year increased by 6% compared to last year. Right from the beginning of the year, the City has proposed many solutions to disburse this "huge" amount of capital.
In 2025, Ho Chi Minh City will continue to persevere in its goal of disbursing 95% of public investment capital, even though the capital allocated this year increased by 6% compared to last year. Right from the beginning of the year, the City has proposed many solutions to disburse this "huge" amount of capital.
By the end of the 2024 disbursement year (January 2025), Ho Chi Minh City had only disbursed about VND60,080 billion, reaching a rate of 75.8%. This figure is still quite far from the 95% disbursement target set by the City.
According to data released by the Department of Planning and Investment of Ho Chi Minh City, in 2025, the public investment capital assigned by the Government to the City is VND 84,149 billion, an increase of 6.2% compared to 2024. Of the total VND 84,149 billion, the central budget capital is VND 3,237 billion, accounting for 3.8%; the city budget capital is VND 80,912 billion, accounting for 96%.
Despite being assigned a “huge” amount of public investment capital, Ho Chi Minh City is still persistent with the target of disbursing investment at 95% or more. The set target is to disburse at a rate of 15% or more in the first quarter of 2025; 35% or more in the second quarter; 70% or more in the third quarter; and 95% or more in the fourth quarter.
In addition to having to disburse the capital allocated in 2025, the City also has to disburse about 20% of the undisbursed capital from 2024. At that time, the total capital to be disbursed in 2025 will reach more than 100,000 billion VND. This is a huge pressure for the country's economic locomotive.
Mr. Phan Van Mai, Chairman of the Ho Chi Minh City People's Committee, said that if the disbursement is not complete in 2024, it will still be delayed until 2025, but this year is the last year of the 2021-2025 medium-term public investment plan, so we must strive to disburse all of it.
With the pressure to disburse a huge amount of capital and to disburse it right from the beginning of the year, in the first days of 2025, the leaders of the Ho Chi Minh City People's Committee met with agencies and units and clearly assigned tasks to each focal point for implementation. However, many units did not carry out their assigned tasks on time.
In addition, when the Department of Planning and Investment sent the Draft Plan for the implementation of public investment capital disbursement in 2025 to the City, after the deadline, it only received comments from 28/60 agencies and units. This shows that many agencies and units are not interested in accelerating the disbursement of public investment capital.
To overcome the inherent bottlenecks in disbursing public investment capital for many years, the Department of Planning and Investment proposed that for the group of investment preparation projects expected to start construction in 2025, the investment decision must be completed no later than February 2025.
For projects that have received compensation for site clearance in 2024, the funds must be disbursed to organizations and people affected by the project and the site must be handed over no later than April 2025. For projects starting construction in 2025, no later than June 2025, localities must complete procedures, disburse site clearance funds and hand over the site to investors for construction no later than September 2025.
Unlike previous years, this year, the Department of Planning and Investment proposed that the City People's Committee tighten discipline for units that do not implement the public investment disbursement reporting regime. Any unit that does not report for 2 consecutive periods or does not report for 3 consecutive periods will be disciplined with a reprimand. Any unit that does not report for 3 consecutive periods or does not report for 4 consecutive periods will be disciplined with a warning.
In case of violation of regulations on reporting regime on public investment disbursement, projects will only be allocated planned capital and disbursed after imposing penalties and supplementing missing contents or reports according to regulations.
Another proposed solution is to promote decentralization and delegation of authority to localities in the direction that the project passes through a district or county and assigns that locality as the investor to enhance responsibility and create initiative for localities, especially in site clearance work to speed up implementation progress and promote capital disbursement.
In a recent meeting, the Chairman of the Ho Chi Minh City People's Committee requested that, immediately after the capital allocation is completed, agencies need to immediately implement steps to disburse public investment, and should not let capital accumulate and be passive at the end of the year. "With the initiative in completing the preparation stages, Ho Chi Minh City will certainly disburse a record amount of capital in 2025," Mr. Mai affirmed.
Source: https://baodautu.vn/tphcm-hoa-giai-thach-thuc-ve-giai-ngan-von-dau-tu-cong-d246159.html
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