Public investment capital disbursement remains slow
Only over 220.7 trillion VN D (9.7 billion USD) worth of public investment capital was disbursed by the end of August, or 40.6 percent of the plan assigned by the Prime Minister.
Hanoi (VNA) – Only over 220.7trillion VN D (9.7 billion USD) worth of public investment capital was disbursed by the end of August, or 40.6 percent of the plan assigned by the Prime Minister.
The figure was 5.8 percentlower than the same period last year. Of which, the disbusement of domestic capital reached 44.7percent while that of foreign capital hit 7.94 percent compared to 21.26 percentrecorded in the same period last year, said the Finance Ministry.
So far, 10 ministries and 26 localities haverecorded disbursement of over 40 percent of the plan.
Meanwhile, 33 out of 50 ministries and 18 outof 63 localities disbursed below 30 percent, with 21 ministries and onelocality below 10 percent. Four ministries have not yet made disbursement.
The Finanꦺce Ministry attributed the slow disbursementto COVID-19 outbreaks in many localities and the suspension of projects in areasunder social distancing order in line with the Prime Minister’s DirectiveNo.16/CT-TTg.
Other causes relate to site clearance, changesin planning in several loclaities, and import of equipment in need of foreignconsultants’ approval.
Moreover, localities and several foreign sponsorshave yet to reach consensus on project implementation process, including in thecontrol of expenditures and disbursement.
Asso. Prof Dinh Trong Thinh suggested cuttingdown unnecessary procedures and improving the role of management agencies inplanning, appraisal and bidding.
The Finance Ministry also urged centrally-runagencies and localities to seriously follow the Pri🍸me Minister’s directions in Dispatch No.1082/CD-TTg dated August 16, 2021 on stepping up disbursement♕of public investment capital 2021./.
Minister of Planning and Investment Nguyen Chi Dung has said low disbursement of public investment capital amid the COVID-19 pandemic could waste resources and result in the loss of opportunities to create a driving force for economic development.
The Minister of Transport recently requested the establishment of a special working group to boost the disbursement of public investment capital for projects in the transport sector.
The northern province of Thai Binh is taking measures to speed up ground clearance for investment projects in the locality, considering it an effective solution to deal with major bottlenecks in economic development.
Ho Chi Minh City disbursed 13.26 trillion VND (583.55 million USD) of public investment capital in the first eight months of this year, fulfilling only 37.1 percent of its target for the year and representing a drop of 27.4 percent over the same period last year, reported the city's Statistics Office.
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Illustrative image (Photo: VNA) 
