Minister of Planning and Investment Nguyen Chi Dung. (Photo: VNA) Hanoi (VNA) – Minister ofPlanning and Investment Nguyen Chi Dung has said low disbursement of publicinvestment capital amid the COVID-19 pandemic could waste resources and result in the loss of opportunities to create a driving force for economic development.
As of late July, ministries,centrally-run agencies and localities had allocated over 398.6 billion VND for qualified projects, while more than 62.6 trillionVND have yet to be allocated, or 13.6 percent of the plan assignedby the PM.
As of July 31, public investment capitaldisbursement reached 36.71 percent of the yearly plan, or 3.96percentage points lower than the rate recorded in the same period last year. The rate of disbursement of officialdevelopment assistance (ODA) and preferential loans of foreign sponsors was just 7.52 percent.
Deputy Minister of Planning andInvestment Tran Quoc Phuong said one of the reasons for the slow disbursement was the late allocation of State capitalin ministries, agencies and localities this year, especially to national targetprogrammes.
At the same time, there is a lack ofpunishment mechanism for units that lag behind in allocating State budget. Besides, the delayin dealing with obstacles in site clearance and resettlement in severalprojects also hinders the pace of disbursement.
Some ministries, agencies and localities, especially those not under socialdistancing order, showed a lack of political determination in the work.
PM Pham Minh Chinh on August 16 issued dispatch No.1082/CD-TTg dated August 16 on accelerating the disbursement ofpublic investment capital.
Accordingly, he asked ministries,agencies and localities to step up disbursement in combination with ensuringthe quality of works and the efficiency of capital use. Heordered strengthening discipline in disbursement and upholding the role andresponsibility of leaders in the effort.
The PM also required strict punishments for investors, project management boards, individuals and organisations thatintentionally cause difficulties and delay in disbursement.
Minister of Planning and Investment NguyenChi Dung also urged ministries, centrally-run agencies and localities to adoptmeasures to promote economic growth and public capital disbursement in theremaining months of 2021 and early 2022 in accordance with the Government’sResolution No.63/NQ-CP.
The Government also requested the immediate establishment of a special working team in each ministry, agency and🧔 l🤪ocality led by the top official to accelerate the work in each ministry,agency and locality./.
