National conference on stepping up public investment disbursement held

Vice Chairman of the Provincial People’s Committee Ngo Tan Phuong concludes the conference at Bac Ninh’s venue.

Participants at Bac Ninh’s venue were Mr. Ngo Tan Phuong, Vice Chairman of the Provincial People’s Committee and leaders of departments, sectors, districts, towns, and cities.

According to a report from the Ministry of Planning and Investment, the total State budget capital investment plan in 2024 decided by the National Assembly to allocate to ministries, central agencies and localities is more than VND 669,264 billion. Of which, central budget capital is more than VND 236,915 billion (domestic capital is more than VND 216,915 billion, foreign capital is VND 20,000 billion), and local budget capital is more than VND 432,348 billion.

As of July 10, 2024, ministries, central agencies and localities had allocated and assigned the 2024 specific state budget investment plan for the list of works and projects, reaching 95.5% of the plan set by the PM.

For implementation and disbursement, according to a report of the Ministry of Finance, the estimated payment from the beginning of the year to June 30, 2024 was more than VND 196,669 trillion, equivalent to 29.39% of the task assigned by the PM. Disbursement of capital from the Socio-economic recovery and development program was VND 4,781.7 billion, reaching 78.23% of the plan; National target program was VND 9,644.6 billion, reaching35.43% of the plan.

Speaking at Bac Ninh’s venue, Vice Chairman Ngo Tan Phuong said that Bac Ninh province was assigned by the PM the State budget capital plan for 2024 of VND 8,558 billion, more than VND 1,000 billion issued by local government bonds, more than VND 3,600 billion from land use auctions; however, Bac Ninh has not been able to allocate the above two sources. By June 30, Bac Ninh had disbursed VND 1,042 billion, reaching 12.2% of the assigned plan set by the Government at the beginning of the year. If not counting the bond issuance plan and land use auction money, Bac Ninh disbursed 26.3%.

Highlighting public investment as a priority for driving growth, mobilizing resources, developing infrastructure and transport, reducing logistic costs and improving local, regional and national competitiveness, PM Chinh called for adherence to the ‘five determinations’ and ‘five guarantees’ in public investment disbursement.

The ‘five determinations’ are related to upholding discipline and preventing misconduct, efficient land clearance, addressing issues and bottlenecks that arise, innovating implementation and leveraging new technologies and holding accountability. On the other hand, the ‘five guarantees’ concern sufficient materials for projects, capable and dedicated human resources for public investment projects, balanced benefits between the state, the investors and the local people, project management in alignment with regulations, as well as project progress, quality and safety according to plans.

Underlining that 2024 must be a breakthrough year in public investment to achieve the socio-economic goals for this year and the year after, PM Chinh required ministerial, state department and provincial leaders to strictly implement the government’s directions and guidelines regarding this matter.

After the conference, Mr. Ngo Tan Phuong requested departments, sectors and localities to apprehend and seriously implement the PM’s instructions. He said that in the coming time, the provincial leaders will drastically direct and strengthen discipline in the disbursement of public investment capital. Agencies, units and localities need to review projects, research the transfer of project supervisors and have plans to handle projects that are behind schedule, he stressed.