PM calls for full disbursement of public investment

Prime Minister Nguyen Xuan Phuc speaks at the event (Photo: VNA)

Hanoi - Prime Minister Nguyen Xuan Phuc has requested that public investment capital be fully disbursed this year, viewing this as a key political task that requires the involvement of the entire political system.

During a teleconference with ministries, agencies, and localities on August 21, the second of its kind since the first on July 16, the PM said localities have been more aware of the need for the disbursement of public investment capital, which has helped create jobs and propel growth.

Nearly 45 percent of all public investment capital is likely to be disbursed by the end of August. Most ministries, agencies, and localities have pledged to disburse 95-100 percent, especially those with large amounts, such as Hanoi, Ho Chi Minh City, and Hai Phong, as well as those with many national projects, such as Dong Nai province.

According to the Ministry of Planning and Investment, 52 out of 53 ministries and centrally-run agencies and all of the country's 63 provinces and cities have outlined plans to allocate State budget capital this year.

Nearly 455.5 trillion VND (19.8 billion USD) from the State budget, or 95.4 percent of the plan, has been earmarked for eligible projects.

Seven ministries and centrally-run agencies and 31 provinces and cities have proposed increasing central budget allocations by over 13.5 trillion VND.

Seven working delegations led by the PM and Deputy Prime Ministers and the ministers of finance and planning and investment have inspected the effort at ministries and localities to tackle difficulties.

The PM said a symposium on official development assistance (ODA) will be held in the near future. The Ministry of Planning and Investment has been assigned to work closely with the Finance Ministry and the Government Office to prepare for the event.

If public investment capital is fully disbursed, the economy could grow by 1 percent. Therefore, leaders of 31 ministries and centrally-run agencies and 13 localities with disbursement of less than 35 percent and 15 percent must learn from experience and disburse all capital this year, he said.

Secretaries of municipal and provincial Party Committees, Chairpersons of municipal and provincial People’s Committees, ministers, and heads of sectors are also be responsible for the effort.

PM Phuc agreed to establish a working group in charge of dealing with difficulties in key projects.

The government leader also urged the speeding up of construction of key national projects, such as Long Thanh International Airport, the eastern section of the North-South Expressway, and the My Thuan - Can Tho Expressway.