Finance ministry calls for drastic measures to boost public capital disbursement
The Finance Ministry has asked for synchronous and drastic measures from the entire political system, ministries, agencies, and localities to step up the disbursement of public investment capital.
Hanoi (VNA) - The FinanceMinistry has asked for synchronous and drastic measures from the entirepolitical system, ministries, agencies, and localities to step up the disbursementof public investment capital.
At a conference witꦗh localities in Hanoi on August 31, Deputy Finance MinisterTran Xuan Ha saiꦜd that although it has improved, the disbursement of publicinvestment and foreign capital in localities have been low so far thisyear.
As of August 27, disbursement was 21.86percent of the target assigned to localities, or 9.14 percent higher than whatwas reported at a teleconference on June 25.
Regarding State capital lent to lo𓄧calities, the fig꧅urehit just 29.3 percent of the estimate.
Headof the Finance Ministry’s Department of Debt Management and External FinanceTruong Hung Long attributed this to focused efforts on capital disbursement throughout2019, late bidding, and uncompleted procedures for project adjustment or siteclearance. Some projects, meanwhile, need verification from the State Audit Office and approval from the World Bank, resulting in a lack of information onthe ministry’s system. Hesaid that five out of 62 localities had sent documents to the Ministry of Planningand Investment seeking permission to repay capital worth over 1.61 trillion VND(700 million USD).
Vice Chairman ofthe Hanoi city People’s Committee Nguyen Doan Toan said that despite the COVID-19pandemic, disbursement of official development assistance (ODA) in the cityreached approximately 20 percent in the first seven months of this year and isexpected to hit 69 percent for the year as a whole.
He also said Hanoi proposes increasing the capital set aside for the Nam ThangLong - Tran Hung Dao section of the urban railway line No 2.
The Finance Ministry hopes localities will promptly help investors clear difꦯficulties facing their projects, Toan said, and achieve disbursement targets this year./.
Prime Minister Nguyen Xuan Phuc has ordered ministries, sectors and localities to boost the disbursement of public investment capital and consider this as the most important measure to make up for the losses the COVID-19 epidemic causes to economic growth.
There remains difficulties in the disbursement of public investment capital between now and the year-end due to COVID-19, said Deputy Finance Minister Tran Xuan Ha during a teleconference on June 25.
Under the chair of Prime Minister Nguyen Xuan Phuc, permanent Government members held a working session with key leaders of Ho Chi Minh City on July 20 to review public investment capital disbursement and tackle difficulties for several key projects in the city.
Deputy Prime Minister Trinh Dinh Dung held a meeting with the Ministry of Agriculture and Rural Development (MARD) in Hanoi on August 19 to examine public investment disbursement in the agriculture sector.
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Nhon - Hanoi railway station route (Photo: VNA) 
