Gov’t speeds up disbursement of public investment capital

Deputy Prime Minister Vuong Dinh Hue. Photo: VGP

Disbursement of public investment capital has become a pressing issue as the disbursed volume only accounted for 31.32%, or VND 134,494 billion in the first seven months of 2019, the lowest rate over the past recent years, according Deputy Minister of Finance Tran Van Hieu.

Particularly, disbursement of foreign loans reached 8.6% of this year’s plan, Hieu stressed.

Slow disbursement was mainly attributed to passiveness of several ministries, agencies and localities while new projects need to comply with new regulations on land, bidding and construction.

Another reason is that the Ministry of Planning and Investment have not summarized investment capital demand worth up to VND 35,000 billion from other ministries and localities, Deputy Prime Minister Hue pointed out.

Hue tasked the Ministry of Planning and Investment to submit to the Prime Minister a plan on allocation of the above volume right in August and another plan to cancel public investment capital allocation to ministries, agencies and localities that have not tried to disburse before October 10, 2019.

He also urged the Ministry of Finance to make public disbursement progress of each ministry, agency and localities./.

By Huong Giang