Gov't sets up working groups to monitor public investment disbursement

The first working group, led by Deputy Prime Minister Le Minh Khai, is responsible for monitoring public investment progress by the Office of the National Assembly, the Office of the Government, the Ministry of Planning and Investment, the Ministry of Finance, the Government Inspectorate, the State Bank of Viet Nam, the State Audit Office, the Viet Nam General Confederation of Labor, the Central Executive Committee of the Ho Chi Minh Communist Youth Union, the Viet Nam Women’s Union Central Committee, the Viet Nam Development Bank, the Viet Nam Bank for Social Policies, the Viet Nam Cooperative Alliance, the Alliance of Arts and Literature Associations of Viet Nam, the Viet Nam Journalists' Association, Ho Chi Minh City, Long An, Tien Giang, Ben Tre, Tra Vinh, Vinh Long, Can Tho City, Hau Giang, Soc Trang, An Giang, Dong Thap, Kien Giang, Bac Lieu and Ca Mau. 

The second working group, headed by Deputy Prime Minister Tran Hong Ha, will oversee public investment disbursement by the Ministries of Industry and Trade, Transport, Construction, Information and Communications, Science and Technology, Education and Training, Health, Culture, Sports and Tourism, Labor, Invalids and Social Affairs, Natural Resources and Environment, the Viet Nam Academy of Social Sciences, the Viet Nam Academy of Science and Technology, the Ha Noi National University, the HCMC National University, the Management Board of the Viet Nam National Village for Ethnic Culture and Tourism, the Management Board of the Hoa Lac High Tech Park, the Viet Nam National Tobacco Corporation, and localities namely Ha Noi, Thanh Hoa, Nghe An, Ha Tinh, Quang Binh, Quang Tri, Thua Thien-Hue, Da Nang, Quang Nam, Quang Ngai, Binh Dinh, Phu Yen and Khanh Hoa. 

Deputy Prime Minister Tran Luu Quang is the head of the third working group in charge of monitoring public investment disbursement by the Offfice of the Party Central Committee, Supreme People's Court, Supreme People's Procuracy, the Ho Chi Minh National Academy of Politics, the Ministry of National Defense, the Ministry of Public Security, the Ministry of Foreign Affairs, the Ministry of Justice, the Ministry of Agriculture and Rural Development, the Ministry of Home Affairs, the Committee on Ethnic Minority Affairs, the Management Board of the President Ho Chi Minh Mausoleum, the Viet Nam News Agency, the Voice of Viet Nam, the Viet Nam Television, the Viet Nam Fatherland Front, the Viet Nam Farmers' Union, and localities including Hai Phong, Ha Giang, Tuyen Quang, Cao Bang, Lang Son, Lao Cai, Thai Nguyen, Bac Kan, Bac Giang, Hoa Binh, Son La, Lai Chau and Dien Bien. 

The fourth group, headed by the Minister of Planning and Investment, is responsible for monitoring public investment disbursement by the following localities: Yen Bai, Phu Tho, Quang Ninh, Hai Duong, Hung Yen, Vinh Phuc, Bac Ninh, Ha Nam, Nam Dinh, Ninh Binh and Thai Binh. 

The Minister of Finance leads the fifth working group to inspect public investment disbursement by Ninh Thuan, Binh Thuan, Dak Lak, Dak Nong, Gia Lai, Kon Tum, Lam Dong, Dong Nai, Binh Duong, Binh Phuoc, Tay Ninh, and Ba Ria-Vung Tau. 

These five working groups comprise leaders of the Ministries of Planning and Investment, Finance, Justice, Construction, Transport, Agriculture and Rural Development, Natural Resources and Environment, Industry and Trade, the State Bank of Viet Nam, and relevant agencies. 

Speeding up public investment disbursement

Public investment capital for 2023 totalled over VND 700 trillion (US$ 29.85 billion in 2023, VND 140 trillion higher than the plan in 2022 and VND 260 trillion higher than 2021.

The Government has doubled efforts in accelerating disbursement of public investment since the beginning of this year after missing its target in 2022.

On February 21, Prime Minister Pham Minh Chinh chaired a national teleconference to seek ways to step up public investment allocation and disbursement in 2023 as well as the socio-economic recovery and development program. 

The Government chief tasked subordinate to rate the disbursement rate to at least 95 per cent of the total public capital planned for this year.

Public investment disbursement in the first two months of this year reached nearly VND49 trillion or 6.55 percent of the initial whole-year plan, according to the Ministry of Finance.

As many as 50 out of 52 ministries and central agencies and 19 out of 63 localities had their disbursement rates less than 5 percent.

Slow disbursement was mainly due difficulties arising in land acquisition, building of resettlement areas, compensation, poor planning, rising input material prices and transportation costs. 

In addition, many contractors hesitated to undertake projects and were awaiting instructions for additional capital to come through due to the rise in the price of materials./.