Business

Deputy PM asks for closer coordination to speed up public investment disbursement

Deputy Prime Minister Tran Hong Ha has asked ministries and central agencies to work closely with localities to remove obstacles for particular projects, thus speeding up public investment disbursement.

Speaking at a meeting with representatives of 17 ministries and central agencies on April 27, Deputy PM Ha underlined the need to strengthen their capacity in directing and managing the disbursement of public investment capital from the stage of preparation to investment decision.

He requested leaders of ministries and central agencies to bear responsible for the whole process from project proposing and verification to implementation. Particularly, the Ministry of Construction must d apply measures to shorten the verification duration for projects, he said.

According to Deputy Minister of Planning and Investment Do Thanh Trung, this year, the total State budget capital assigned to 17 ministries and central agencies is over 111.76 trillion VND (4.76 billion USD). So far, more than 105.13 trillion VND, or 94% of the amount, has been allocated to particular projects.

To date, the 17 ministries and agencies have disbursed 23.74 trillion VND, completing 21.24% of the yearly plan. However, the rate is not equal among the ministries and agencies. While the Ministry of Transport and the Vietnam Academy of Science and Technology posted 24.27% and 19.44%, respectively, the rest showed slow disbursement.

Trung held that the major reasons behind the situation is slow investment procedures. Many ministries pointed to difficulties in ground clearance./.

Source: Vietnam News Agency