Measures sought to speed up public investment disbursement

An overview of the meeting (Photo: VNA)

Hanoi (VNA) – Prime Minister Pham Minh Chinh on February 21 chaired a national teleconference on the acceleration of public investment allocation and disbursement in 2023 as well as the socio-economic recovery and development programme.

Underlining that public investment as a resource and a motivation for development, PM Chinh said that one of the major tasks for 2023 is to speed up the disbursement of public investment, effectively implementing the socio-economic recovery and development programme and three national target programmes.

These activities are significant in terms of economy, politics, society, defence and security, helping promote the internal strengths of the country and creating the momentum for fast recovery and sustainable development, he said.

PM Pham Minh Chinh addresses the conference. (Photo: VNA)

The PM noted that last year, the Government issued many resolutions, directives and official dispatches regarding public investment disbursement, while organising many national online meetings and conference to discuss the work, and forming six working groups of the PM to inspect and hasten the disbursement activities.

In 2022, 5,000 unnecessary projects were abolished to reserve capital for large-scale and effective projects, while measures to raise incomes and reduce spending were applied to increase public capital, he said, adding that the disbursement of public capital sourced from the State budget in 2022 reached 93.5% of the yearly plan.

The Government leader said that in 2023, total public capital is 711.7 trillion VND (29.96 billion USD), up more than 130 trillion VND from the figure in 2022, which means the disbursement task is heavier, requiring drastic actions right from the beginning of the year towards fulfilling at least 95% of the target set for the year.

He asked ministries, sectors and localities discuss lessons in the work, defining difficulties and obstacles, sharing effective methods and proposing specific solutions to disburse public capital in a practical, effective, and flexible manner in line with the real situation.

According to the Ministry of Planning and Investment, as of January 31, over 541.85 trillion VND of public investment capital allocated for 2022 had been disbursed, fulfilling 93.5% of the plan, with eight ministries and central agencies and 30 localities completing 100% of their targets.

As of February 17, more than 595.61 trillion VND of the public investment capital for 2023 had been allocated and assigned for ministries, agencies and localities, reaching 84.2% of the plan./.

VNA