PM calls for determination in development investment

May 21, 2021 - 16:00
Prime Minister Phạm Minh Chính called for creating a new atmosphere and determination in public development in a conference on Thursday.
Prime Minister Phạm Minh Chính gives a speech at the conference. — Photo

HÀ NỘI — Prime Minister Phạm Minh Chính called for creating a new atmosphere and determination in public development in a conference on Thursday.

He made the statement while working with ministries and agencies to assess medium-term public investment results in 2016-20 and projecting the medium-term public investment plan for 2021-26.

Reports of the Ministry of Planning and Investment (MoPI) said the total number of projects assigned to the medium-term plan is 11,100, half compared to 2011-15. The average annual disbursement reached about 83.4 per cent of the assigned plan and in 2020 had the highest disbursement rate at more than 97.46 per cent.

The socio-economic efficiency of investment and public investment, in particular, has improved, contributing to a large amount of social investment capital, reaching about VNĐ9.2 trillion (US$397.6 million), equal to 33.7 per cent of gross domestic product (GDP), reaching the target set by the National Assembly.

Many investment infrastructure projects from the 2011-15 period in key industries and fields were completed from 2016-20.

However, medium-term public investment still has shortcomings and limitations. Some regulations are still not practical, while procedures related to public investment still have shortcomings such as rigid plans, lack of flexibility, and time-consuming reporting requirements.

Concluding the conference, PM Chính said he highly appreciated the MoPI’s report, which was scientific, methodical, clear, and easy to follow. The successes of public investment in the past five years have been achieved through the joint efforts of many agencies, including the MoPI.

PM Chính asked the MoPI to continue to update the latest data and evaluate more specifically the results achieved compared to targets. The report should clearly state the ministries, agencies and localities that have done well, which places have not been active, the causes of delays in the progress of the projects, and lessons to be learned.

Along with that, the ministry must encourage and protect those who dare to think, dare to do and dare to take responsibility for the common good to promote a spirit of initiative, creativity, self-reliance and not be too cautious, he said.

The PM asked the MoPI to work with agencies to review and remove unnecessary and ineffective projects. The investment must be focused on key industries and fields, large and important national projects of inter-regional significance, creating new development space, and at the same time paying attention to social security projects.

Localities must promote the implementation of projects in the form of public-private partnerships on the principle of harmonising the interests of the State, investors and people, he said. — VNS