Business

Public investment capital disbursement remains slow

Only over 220.7 trillion VN D (9.7 billion USD) worth of public investment capital was disbursed by the end of August, or 40.6 percent of the plan assigned by the Prime Minister.
Public investment capital disbursement remains slow ảnh 1Illustrative image (Photo: VNA)

Hanoi (VNA) – Only over 220.7trillion VN D (9.7 billion USD) worth of public investment capital was disbursed by the end of August, or 40.6 percent of the plan assigned by the Prime Minister.

The figure was 5.8 percentlower than the same period last year. Of which, the disbusement of domestic capital reached 44.7percent while that of foreign capital hit 7.94 percent compared to 21.26 percentrecorded in the same period last year, said the Finance Ministry.

So far, 10 ministries and 26 localities haverecorded disbursement of over 40 percent of the plan.

Meanwhile, 33 out of 50 ministries and 18 outof 63 localities disbursed below 30 percent, with 21 ministries and onelocality below 10 percent. Four ministries have not yet made disbursement.

The Finance Ministry attributed the slow disbursementto COVID-19 outbreaks in many localities and the suspension of projects in areasunder social distancing order in line with the Prime Minister’s DirectiveNo.16/CT-TTg.

Other causes relate to site clearance, changesin planning in several loclaities, and import of equipment in need of foreignconsultants’ approval.

Moreover, localities and several foreign sponsorshave yet to reach consensus on project implementation process, including in thecontrol of expenditures and disbursement.

Asso. Prof Dinh Trong Thinh suggested cuttingdown unnecessary procedures and improving the role of management agencies inplanning, appraisal and bidding.

The Finance Ministry also urged centrally-runagencies and localities to seriously follow the Prime Minister’s directions in Dispatch No.1082/CD-TTg dated August 16, 2021 on stepping up disbursementof public investment capital 2021./.

VNA
#public investment capital #Vietnamplus #Vietnam News Agency #Finance Ministry #social distancing order #project implementation process Vietnam
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