Hanoi(VNA) – Prime Minister Pham Minh Chinh on February 21 chaired a national teleconference on the acceleration of public investment allocation and disbursementin 2023 as well as the socio-economic recovery and development programme.

Underlining that publicinvestment as a resource and a motivation for development, PM Chinh said that oneof the major tasks for 2023 is to speed up the disbursement of publicinvestment, effectively implementing the socio-economic recovery anddevelopment programme and three national target programmes.

These activities aresignificant in terms of economy, politics, society, defence and security, helpingpromote the internal strengths of the country and creating the momentum forfast recovery and sustainable development, he said.

The PM noted that lastyear, the Government issued many resolutions, directives and official dispatchesregarding public investment disbursement, while organising many national onlinemeetings and conference to discuss the work, and forming six workinggroups of the PM to inspect and hasten the disbursement activities.

In 2022, 5,000 unnecessary projects were abolished to reserve capital for large-scale and effectiveprojects, while measures to raise incomes and reduce spending were applied to increasepublic capital, he said, adding that the disbursement of public capital sourcedfrom the State budget in 2022 reached 93.5% of the yearly plan.

The Government leadersaid that in 2023, total public capital is 711.7 trillion VND (29.96 billion USD), up more than 130 trillion VND from the figure in 2022, whichmeans the disbursement task is heavier, requiring drastic actions right fromthe beginning of the year towards fulfilling at least 95% of thetarget set for the year.

He asked ministries,sectors and localities discuss lessons in the work, defining difficulties andobstacles, sharing effective methods and proposing specific solutions todisburse public capital in a practical, effective, and flexible manner in linewith the real situation.

According to theMinistry of Planning and Investment, as of January 31, over 541.85 trillion VND of public investment capital allocated for 2022 had been disbursed, fulfilling 93.5% ofthe plan, with eight ministries and central agencies and 30 localitiescompleting 100% of their targets.

As of February 17,more than 595.61 trillion VND of the public investment capital for 2023 hadbeen allocated and assigned for ministries, agencies and localities, reaching 84.2% of the plan./.