Hanoi (VNS/VNA) - The Ministry of Finance has encouraged efforts to tackle persistent roadblocks to accelerate public investment disbursement in the remaining months of this year, as part of the drive to fulfil the Government’s target of a 100% disbursement rate.
According to a report from the ministry sent to the Prime Minister on public investment disbursement, around 318.6 trillion VND (12.2 billion USD) had been disbursed by the end of June.
By the end of July, disbursement had risen to an estimated 388.3 trillion VND, equivalent to 39.5% of the plan and 43.9% of the Prime Minister’s assigned target.
This marked a 10% increase compared to July 2024, when the disbursement rate stood at only 27.8%.
Six ministries and central agencies and 23 provinces and cities surpassed the national average disbursement rate, while 30 ministries and agencies along with 11 localities reported disbursement rates lower than the national average.
This reflects a significant difference in the ability to use capital among ministries and localities amid the transition to a two-tier government model, the ministry said.
There have been persistent roadblocks to the disbursement of public investment, including site clearance, unexpected increases in prices of materials like sand and fill soil, and overlapping planning and investment procedures, especially for projects funded by official development assistance.
Aside from these issues, the transition to a two-tier government and merger of local administrative units also caused some projects to adjust their scale and investments.
Determination and drastic efforts at both central and local levels is critical to promote the disbursement and efficiency of public investment, which is identified as an important driver for growth, said Director of the ministry’s Department of Infrastructure Development Duong Ba Duc.
Simplifying side clearance procedures and enhancing accountability at all levels, especially at the commune level, where many infrastructure projects are directly implemented, will be key to accelerating public investment, he added.
The Ministry of Finance aims to reach a public investment disbursement rate of 60% by the end of the third quarter and 100% by the year's end.
More than 548.6 billion VND was disbursed in 2024, meeting 72.9% of the plan./.
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The figure accounted for 22.2% of the yearly plan and 24.1% of the target assigned by the Prime Minister, marking a stronger pace than the same period last year when disbursement stood at 20.33% of the plan and 21.63% of the Government’s allocation.
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