Director of the Department of Planning and Investment of the northern province of Bac Giang Bui Thi Thu Thuy has affirmed that the locality will focus on removing obstacles to speed up disbursement and implementing public investment projects in the coming time.
Public investment disbursement of the central city of Da Nang was estimated to reach 3.4 trillion VND (over 149 million USD) as of August, according to the municipal Department of Planning and Investment.
The production and consumption of building materials started resuming at the end of the third quarter this year as lots of construction works were speeding towards completion, however, local producers have been warned to watch the market to avoid a possible surplus.
Relevant agencies need to take drastic and concerted actions and quickly remove barriers and difficulties to speed up the disbursement of public investment, Minister of Planning and Investment Nguyen Chi Dung has said.
Chairman of the municipal People’s Committee Nguyen Thanh Phong has asked agencies to improve production of major industries and diversify tourism products, as well as speed up the capital disbursement rate of public investment projects in the city.
There have been some mixed ideas regarding the revision of the Law on Public Investment, with some lawmakers supporting the revision of only certain articles, and others that share the Government’s view that the law deserves more comprehensive amendments.
Deputy Prime Minister Vuong Dinh Hue has requested the Ministry of Planning and Investment and Ministry of Finance to monthly publicise the disbursement of capital for public investment projects by ministries, sectors and localities.
Over the last there years, Oxfam and the Budget Transparency, Accountability and Participation (BTAP) Alliance in Vietnam, through the EU-funded project, have supported their partners in the northern mountainous province of Hoa Binh and Quang Tri to perform initiatives for improving the efficiency of State budget management.
Authorities in Hanoi have approved a proposal by the Department of Planning and Investment to invest nearly 22 trillion VND (957 million USD) in 117 public investment projects, including 103 fundamental construction ones, in the city from 2017 – 2020.
Ministries, sectors and localities have disbursed over 83 trillion VND (3.73 billion USD) of public investment capital so far this year, completing 33.14 percent of the disbursement plan in 2016.
Vietnam has implemented an open contracting initiative as part of a drive to improve transparency in procurement activities, particularly in public investment projects.
