Illustrative photo. (Source: VNA)During the first sixmonths of the year, the province’s Party Committee, People’s Council andPeople’s Committee have together taken various measures to speed up the publicinvestment disbursement.
Capital disbursement planshave been assigned for 2021’s projects and programmes since the end of lastyear to help investors balance the financial needs of them and enable improvedperformances. Competent authorities have also cut 30 – 50 percent of timerequired for completing public administrative procedures during thepre-investment verification and appraisal process at the request of thechairman of the provincial People’s Committee.
The province has alsoset specific timelines for the investment disbursement of each type of projectthis year while investors must be committed to following the timelines.Periodic reviews have also been conducted to identify projects with slow investmentdisbursement so capital can be withdrawn from slow-moving projects andtransferred to faster ones.
Additionally, everymajor, key projects must be kept under the supervision of one of provincialleaders. District-level People’s Committees must also pledge to ensure thatprogress of site clearance for each project is on schedule.
Thanks to such drasticefforts, 106 out of 125 investors of projects funded by public capital havefulfilled 50 percent and more of their disbursement plans. The best performersamong them include the Department of Transport (56.5 percent), Department ofPublic Security (93.5 percent), People’s Committee of Nong Cong district (100percent), and People’s Committee of Cam Thuy district (98.9 percent).
Keeping disbursementof public investment on schedule is of great importance to Thanh Hoa’ssocio-economic development, particularly as the COVID-19 pandemic is wreakinghavoc on the local economy, said Le Minh Nghia, Deputy Director of theprovincial Department of Planning and Investment.
It will help createjobs for thousands of people, boost local economic growth and offset economiclosses in pandemic-hit sectors, he said.
Nghia noted that theprovince reported a Gross Regional Domestic Product (GRDP) growth of 8.66percent in the first half of 2021, setting the scene for the accomplishment ofpublic investment plans in the remaining months.
Thanh Hoa has beenamong ten cities and provinces receiving the highest public investment (over 10trillion VND) for years. The province has also remained in the Top 10performers in terms of investment disbursement.
Early this year,Minister of Finance Dinh Tien Dung called for faster progress of publicinvestment disbursement, saying hastening the disbursement speed from the startof this year was an important solution to accelerate economic recovery amid theCOVID-19 pandemic.
He also requested thatprojects failing to meet planned progress should have their capital revoked.
According to theGeneral Statistics Office, every increase by 1 percent in public investmentdisbursement would push GDP by 0.06 percentage points.
The disbursement rate of public investment capital in 2021is expected to reach between 95-100 percent of the plan assigned by the PrimeMinister, according to the Ministry of Planning and Investment.
As planned, the disbursement of publicinvestment will reach at least 60 percent of the plan by the end of the thirdquarter of the year.
Latest statistics released by the General Statistics Office (GSO) showthat total social investment in the first six months of 2021 increased 7.2 percentyear-on-year to 1,170 trillion VND.
Of the figure, over 295.2 trillion VND wassourced from the state sector, up 7.3 percent; 660.1 trillion VND came from thenon-state sector, rising by 7.4 percent; and 214.4 trillion VND was from theforeign direct investment sector, up 6.7 percent./.
VNA
