Public investment disbursement needs to be accelerated to boost growth: insiders
Public investment is currently still an important growth driver, which needs to be accelerated so as to help the economy achieve a 6.5% growth this year, according to insiders.
Hanoi (VNA) - Public investment is currently still an important growthdriver, which needs to be accelerated so as to help the economy achieve a 6.5% growththis year, according to insiders.
In mid-March, the Prime Minister issued anofficial dispatch requesting ministries, sectors, and localities to urgently havespecific allocations of the 2024 state budget plan in accordance withregulations.
Data compiled by the Ministry of Planningand Investment showed that as of late March, around 32 trillion VND (1.28billion USD) out of a total of nearly 657.3 trillion VND planned for 2024 hadnot been allocated in detail yet. Of this, the central budget is 9.5 trillionVND of 21 out of the 44 ministries and ministry-level agencies and 24 out ofthe 63 provinces and cities.
Last year, extra efforts were made todisburse public investment, but the disbursement still did not reach the settarget of 95%. This year, the 95% threshold continues to be set. To achievethis goal, right from the beginning of this year, the Government and the Prime Ministerurged "spending money" and the Government leader has issued officialdispatches ordering the acceleration of the disbursement. Recently, a meetingto remove difficulties and speed up the disbursement of official developmentassistance (ODA) and concessional loans was also held.
Thanks to these efforts, in the firstquarter of this year, 89.8 trillion VND worth of public investment was disbursed,equal to 13.67% of the plan assigned by the Prime Minister, higher than the 10.35%recorded in the same period last year.
Minister of Planning and Investment NguyenChi Dung urged ministries, sectors, and localities to promote the allocation anddisbursement of public investment, taking this as a key political task topromote economic growth.
More efforts should be made to promptlyhandle difficulties and problems in the supply of sand and stone to speed up theprogress of key and important national projects, Dung stressed./.
President Vo Van Thuong on February 20 signed a decision approving the extension of the disbursement deadline of a project on basic infrastructure for comprehensive development of four central provinces of Nghe An, Ha Tinh, Quang Binh and Quang Tri, using loans from the Asian Development Bank (ADB).
To boost public investment disbursement in 2024, ministries, sectors, and localities need to foresee problems that may occur during the implementation of projects to take timely solutions, said an official of the Ministry of Finance (MoF).
Deputy Prime Minister Tran Luu Quang on March 27 stressed the Vietnamese Government’s determination to speed up the disbursement of official development assistance (ODA) and concessional loans.
The Ministry of Transport, as of late March, disbursed around 10.7 trillion VND (445 million USD) for public investment projects, or nearly 19.2% of the total allocated by the Prime Minister, which was higher than 17% recorded in the same period last year.
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Illustrative image (Photo: VNA) 
