Wednesday, June 28 2017

VietNamNews

MPI minister explains on public investment

Update: June, 15/2017 - 10:36
Minister of Investment and Planning (MIP) Nguyễn Chí Dũng yesterday began answering questions on mobilisation of capital resources from society for development investment and on investment plans with State capital. — VNA/VNS Photo Phương Hoa

HÀ NỘI — Minister of Investment and Planning (MIP) Nguyễn Chí Dũng yesterday began answering questions on mobilisation of capital resources from society for development investment and on investment plans with State capital.

The questions also focused on strengthening the management of capital resources to avoid waste in public investment and the responsibilities of ministries and agencies in key national investment projects.

About 50 deputies registered to question the minister.

Deputies Phạm Đình Cúc from the southern Bà Rịa - Vũng Tàu Province, Trần Hoàng Ngân from HCM City, Nguyễn Thị Kim Thúy from the central city of Đà Nẵng, Tạ Văn Hạ  from southern province of Bạc Liêu, Trần Đình Gia from the central Hà Tĩnh Province and Bùi Văn Tùng from the northern city of Hải Phòng questioned about various issues including the implementation of public investment projects, agricultural projects with foreign direct investment (FDI) and the allocation of official development assistance (ODA) funds.

They asked the MIP minister to explain the causes, responsibility and handling of public investment projects which disbursing capital slowly and without concentrated investment scale.

Among the questions were how to improve the quality of FDI projects, how to attract FDI into high-tech agriculture, the responsibilities of ministries and ministers for key national projects, how to handle debt occurred in the process of building new countryside areas, solutions to overcome obstacles in the implementation of the Public Investment Law and solutions for problems in ODA disbursement.

Explaining some public investment projects which the deputies said were implemented slowly and ineffectively after more than two years since passing the Public Investment Law, Dũng said despite the law helping create a legal framework for the preparation, distribution, allocation and implementation of public investment projects, the implementation of the law was not effective due to unclear and inconsistent guiding documents.

As the law was new, it needed to be improved.

Dũng said some projects were suffering from low funding disbursement including in localities where demands for investment capital were too large while the State budget was limited so they need careful consideration from the Government.

The minister admitted there was a lack of collaboration between ministries, agencies and localities in handling capital issues especially in reviewing and finalising plans for projects.

“This has led to some problems of time and accuracy in completing the project causing stagnation for the whole process,” said Dũng.—VNS

 

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