Disbursement must be sped up: Minister of Transport

There is just one week left until the deadline for project management boards to step up disbursement to reach 96 percent at the Ministry of Transport, Minister Nguyen Van The said on January 25.
Disbursement must be sped up: Minister of Transport ảnh 1Transport Minister Nguyen Van The chairs the meeting (Photo: VNA)
Hanoi (VNS/VNA) - There is just one week left until the deadline for projectmanagement boards to step up disbursement to reach 96 percent at theMinistry of Transport, Minister Nguyen Van The said on January 25.

Thesaid the disbursement was moving at below-average on severalprojects.

Many agenciesspend just four in every five dollars that are pledged for spending.They keep one dollar on hold, bide their time and request projectadjustment when deadlines are close, unnecessarily dragging out projects.

Lang Son province’sDepartment of Transport has registered an investment scheme of 83 billion VND (3.67million USD) but has disbursed just 32 percent of the registered money.They are requesting an adjustment for the National Highway 4A Project.

In such cases,the ministry is going to reject their request and urge local authorities toreprimand agencies that have prolonged disbursement to the detriment ofthe ministry’s target, according to the minister.

He also askedagencies under the ministry, including the Number 2 Project ManagementBoard and My Thuan Project Management Board, to speed up spending.

“Whendisbursement suffers a setback, it is all about looking at ways to overcome thesetback, not taking the easy way out by requesting project adjustment,” Thesaid.

The amount ofmoney to disburse in 2022 will be larger than in 2021, staying at around 50trillion VND (2.2 billion USD), but with additional money from theprogramme for socio-economic recovery and development.

Given sucha huge workload ahead, the minister called on project management boardsand agencies to make payments at a faster pace right from January and Februaryto get the year off to a good start.

Regardingprojects in Group A, which are subject to the approval of the Prime Minister,agencies must spare no effort to have them completed on time.

For sevenprojects in Group B and C, which have yet to receive approval, agencies mustcomplete documents faster to the ministry for approval.

43 projectswhich have been given the green light from the ministry must quicklybegin and accelerate disbursement.

Any projectmanagement board that has a low disbursement rate in February will be given awarning or face a penalty, warned the ministry’s leader.

Nguyen DanhHuy, director of the ministry’s Department of Planning and Investment,said that about 43 trillion VND (1.9 billion USD) was expected to bedisbursed in 2021 under the public investment plan.

By January 15,nearly 40.9 trillion VND (1.8 billion USD), over 95 percent, had beenspent.

Severalprojects met their disbursement target for 2021, while others are ina rush to clear before January 31, the director reported.

The MaritimeProject Management Board has hit its target, the  Number 85 Project ManageBoard 99.6 percent, the Thang Long Project Management Board 99.4 percent andNumber 6 Project Management Board 99.1 percent.

In provinces,23 out of 32 municipal agencies have managed to disburse money according toplan, the rest are falling short of the target.

Bui Quang Thai,director of the ministry’s Transport Engineering Construction and QualityManagement Bureau, noted that 13 projects had missed the markby January.

These projectsinclude Vinh Hao-Phan Thiet Section of North-South Expressway (80.2 percent), 24-TP2Highway Project (74.2 percent) and  Project on Traffic Connection in the CentralHighlands (52.4 percent)./.
VNA

See more

Ministerial-level negotiation session between Vietnamese Minister of Industry and Trade Nguyen Hong Dien and US Trade Representative Jamieson Greer (Photo: VNA)

Vietnam, US promote negotiations on reciprocal trade agreement

Vietnamese Minister of Industry and Trade Nguyen Hong Dien and US Trade Representative Jamieson Greer reached a high consensus on principles, approaches, content orientations, and negotiation plans, thereby establishing a foundation for subsequent negotiation sessions to achieve positive outcomes.

Le Thanh Lam, CEO of TOPSKILLS, shares insights into the role of AI in modern HR management at the launch event of the AI-Powered TMS system in HCM City on May 16. (Photo: courtesy of the organisers)

AI helps businesses build resilient, adaptable succession teams

Experts said that in the context of digital transformation and AI increasingly becoming key drivers of business innovation, building a capable succession team—those who will lead the company toward sustainable growth—has become an urgent priority.

Prime Minister Pham Minh Chinh and Thai Prime Minister Paetongtarn Shinawatra witnessed the exchange of the MoU between the Ministry of Industry and Trade and Thailand's Central Group. (Photo: VNA)

MoIT, Thailand’s Central Group forge partnership to boost Vietnamese exports

The MoU, signed as part of Thai Prime Minister Paetongtarn Shinawatra’s official visit to Vietnam from May 15-16, was the result of extensive discussions between the two sides, aimed at enhancing the presence and competitiveness of Vietnamese products, particularly consumer goods, and agricultural and aquatic products.

Chu Lai Port welcomes the Chana Bhum, a Singapore-flagged vessel operated by RCL, marking the opening of the Chu Lai–India shipping route. (Photo: VNA)

Vietnamese firm, Thailand-based shipping line cooperate to launch Chu Lai - India direct call service

The direct call service helps cut transportation time, reduce costs, increase competitiveness by bypassing major transshipment ports in northern and southern Vietnam. At the same time, it opens up new trade opportunities, promotes logistics activities, develops supply chains, strengthens regional connectivity, and enhances the position of Chu Lai Port on the international maritime map.

Deputy Minister of Finance Cao Anh Tuan grants an interview to the Vietnam News Agency (VNA). (Photo: VNA)

Vietnam, US foster bilateral economic, financial cooperation

Strengthening the Vietnam - US economic and financial cooperation will open new avenues for collaboration and serve as a symbol of trust and a substantive Comprehensive Strategic Partnership for mutual prosperity, a Vietnamese official has said.

Ba Ria-Vung Tau seaport (Photo: VNA)

Resolution 68: A game-changer for Vietnam’s private sector

Beyond regulatory reform, Resolution 68 provides support policies for access to land, capital, and high-quality human resources, while also promoting digital transformation, innovation, sustainable development, and global value chain integration.

A booth at VietOffice 2024. The first VietOffice held in May last year was a success, generating positive results. (Photo: VNA)

VietOffice 2025 expected to attract 100 exhibitors

The event will see the participation of about 100 exhibitors from eight countries and territories, namerly India, Taiwan (China), China, the Republic of Korea, Japan, Hong Kong (China), the US, and Vietnam.

Illustrative image (Photo: VNA)

Exporters diversify orders to reduce reliance on single market

Facing the risks posed by trade barriers and potential reciprocal tariffs from the US, many businesses have proactively shifted their market strategies, stepped up trade promotion, and diversified their orders to reduce reliance on a single market.

A customer buys petrol at a station in Hanoi. (Photo: VNA)

Government proposes 2-pp VAT reduction on select goods and services until 2026

A 2-percentage-point reduction in the value-added tax (VAT) for goods and services will lead to a decrease in state revenue by approximately 121.74 trillion VND (over 4.69 billion USD) over the proposed period. This includes an estimated 39.54 trillion VND in the second half of 2025 and 82.2 trillion VND in 2026.

Illustrative photo (Photo: VNA)

Petrol prices up in latest adjustment

E5 RON92 petrol is now capped at 19,180 VND (0.74 USD) per litre, up 403 VND from the previous adjustment, while RON95-III petrol costs 19,594 VND per litre, up 415 VND.