More than 44.6 trillion VND (1.95 billion USD) of public investment was disbursed in the first two months of 2022, equivalent to 8.61 percent of this year’s target and higher than the rate of 5.09 percent in the same period last year.
The southern province of Kien Giang will spend over 5.12 trillion VND (224.2 million USD) implementing its public investment plan in 2022, according to the provincial Department of Planning and Investment.
The Government Office has issued the Notice No.262/TB-VPCP dated October 5, 2021 on the Prime Minister’s conclusions at the nationwide teleconference with ministries, centrally-run agencies and localities on stepping up the disbursement of public investment capital this year.
Amid the complex COVID-19 situation, accelerating the disbursement of public investment is one of the focal tasks Hanoi will carry out in the remaining months of 2021 to achieve the best possible economic outcomes.
The northern province of Quang Ninh is working hard to complete the disbursement of the entire public investment capital which were allocated for projects in the province at the start of 2021.
Minister of Planning and Investment Nguyen Chi Dung has said low disbursement of public investment capital amid the COVID-19 pandemic could waste resources and result in the loss of opportunities to create a driving force for economic development.
The disbursed public investment declined in July due to the surge in COVID-19 cases, but it still grew 5.6 percent in the first seven months of 2021 as compared to the same period last year.
The Ministry of Agriculture and Rural Development (MARD) is likely to fulfil 11.4 percent of its yearly plan of public capital disbursement at the end of the first quarter of this year.
Ho Chi Minh City is taking drastic measures to promote disbursement of public funds, which plays an important role in economic development amidst the COVID-19 pandemic.
Ho Chi Minh City had disbursed nearly 23 trillion VND (987.48 million USD) of public investment capital as of September 22, completing 54.2 percent of its yearly target, the Office of the city People’s Committee has reported.
The Finance Ministry has asked for synchronous and drastic measures from the entire political system, ministries, agencies, and localities to step up the disbursement of public investment capital.
Deputy Prime Minister Trinh Dinh Dung held a meeting with the Ministry of Agriculture and Rural Development (MARD) in Hanoi on August 19 to examine public investment disbursement in the agriculture sector.
Under the chair of Prime Minister Nguyen Xuan Phuc, permanent Government members held a working session with key leaders of Ho Chi Minh City on July 20 to review public investment capital disbursement and tackle difficulties for several key projects in the city.
There remains difficulties in the disbursement of public investment capital between now and the year-end due to COVID-19, said Deputy Finance Minister Tran Xuan Ha during a teleconference on June 25.
Prime Minister Nguyen Xuan Phuc has ordered ministries, sectors and localities to boost the disbursement of public investment capital and consider this as the most important measure to make up for the losses the COVID-19 epidemic causes to economic growth.
Almost 34.75 trillion VND (1.49 billion USD) of public investment capital was disbursed in the first two months of 2020, equivalent to 7.38 percent of the year’s plan and nearly doubling the value and progress in the same period last year.
Deputy Prime Minister Vuong Dinh Hue has asked ministries, agencies and localities to accelerate public investment disbursement in line with the Government’s Resolution No.70/NQ-CP and the PM’s Directive No.09/CT-TTg.
The investigation police under the Ministry of Public Security on March 19 prosecuted two more persons on the charge of “violations of regulations on the management and use of public capital causing losses and wastefulness”, under expanded investigation into the case of Phan Van Anh Vu.
Five more people were prosecuted on March 17 and 18 for suspected violations of regulations on the management and use of public capital causing losses and wastefulness and violations of regulations on land management as police have expanded the investigation into Phan Van Anh Vu-related case.
Deputy Prime Minister Vuong Dinh Hue has requested the Ministry of Planning and Investment and Ministry of Finance to monthly publicise the disbursement of capital for public investment projects by ministries, sectors and localities.
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