Measures sought to speed up public investment disbursement

February 22, 2023 - 07:16
In 2023, total public capital will be VNĐ711.7 trillion (US$29.96  billion), up more than VNĐ130 trillion against 2022’s figure.
PM Chính at the conference on public investment allocation and disbursement held in Hà Nội on Tuesday. VNA/VNS Photo Dương Giang 

HÀ NỘI — Prime Minister Phạm Minh Chính on Tuesday chaired a national conference on the acceleration of public investment allocation and disbursement in 2023 as well as the socio-economic recovery and development programme.

PM Chính said one of the major tasks for 2023 would be to speed up the disbursement of public investment, effectively implementing the socio-economic recovery and development programme and three national target programmes.

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

The Government leader said that in 2023, total public capital would be VNĐ711.7 trillion (US$29.96 billion), up more than VNĐ130 trillion against 2022’s figure, which meant the disbursement task would be more difficult, requiring drastic action from the beginning of the year towards fulfilling at least 95 per cent of the target.

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 per cent of the yearly plan.

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 VNĐ541.85 trillion of public investment capital allocated for 2022 had been disbursed, fulfilling 93.5 per cent of the plan, with eight ministries and central agencies and 30 localities completing 100 per cent of their targets.

As of February 17, more than VNĐ595.61 trillion of the public investment capital for 2023 had been allocated and assigned for ministries, agencies and localities, reaching 84.2 per cent of the plan. — VNS