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Agencies advised to foresee problems to boost public investment disbursement

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).
Agencies advised to foresee problems to boost public investment disbursement ảnh 1Over 16.93 trillion VND in public investment capital sourced from the state budget was disbursed in January. (Photo: VNA)
Hanoi (VNA) – To boost public investmentdisbursement in 2024, ministries, sectors, and localities need to foreseeproblems that may occur during the implementation of projects to take timelysolutions, said an official of the Ministry of Finance (MoF).

Duong Ba Duc, Director of the MoF’s Investment Department,said to ensure the disbursement progress, the department has proposed the MoF instruct ministries, sectors, and localities to accelerate capital allocation andseriously carry out measures.

It has recommended ministries, sectors, and localities to allocatecapital for projects in the order of priority, revoke capital in line withregulations, and provide enough funding for projects facing capitalshortages.

Thedepartment has also asked for scientific and reality-matching allocation andregistration of capital. Meanwhile, an appropriate level of funding should begiven to newly-launched projects since they still need time for site clearanceand invitation for bids, he noted.

In January, more than 16.93 trillion VND (687 million USD) inpublic investment capital sourced from the state budget was disbursed, equivalentto 2.46% of this year’s plan and 2.58% of the target set by the Prime Minister,higher than the respective rates of 1.72% and 1.81% recorded in the same periodlast year, according to the MoF.

Meanwhile, over 127.59 trillion VND from the statebudget is set to be allocated to nationally important projects in 2024, including nearly 96.4 trillion VND from the central budget and 31.2 trillion VND fromlocal budgets.

About 1 trillion VND was supplied to those projects as ofJanuary 31, statistics showed. The PM targets a public investment disbursementrate at 95% for 2024.

Duc considered this target as feasible as the sum of publicinvestment this year is over 600 trillion VND, lower than last year’s figure. Besides,nationally important projects that connect regions and have ripple effect havehad their procedures basically completed, providing grounds for betterdisbursement./.
VNA
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