Duong Ba Duc, Director of the MoF’s Investment Department, said to ensure the disbursement progress, the department has proposed the MoF instruct ministries, sectors, and localities to accelerate capital allocation and seriously carry out measures.

It has recommended ministries, sectors, and localities to allocate capital for projects in the order of priority, revoke capital in line with regulations, and provide enough funding for projects facing capital shortages.

Over 16.93 trillion VND in public investment capital sourced from the state budget is disbursed in January.

The department has also asked for scientific and reality-matching allocation and registration of capital. Meanwhile, an appropriate level of funding should be given to newly-launched projects since they still need time for site clearance and invitation for bids, he noted.

In January, more than 16.93 trillion VND (687 million USD) in public investment capital sourced from the state budget was disbursed, equivalent to 2.46% of this year’s plan and 2.58% of the target set by the Prime Minister, higher than the respective rates of 1.72% and 1.81% recorded in the same period last year, according to the MoF.

Meanwhile, over 127.59 trillion VND from the state budget is set to be allocated to nationally important projects in 2024, including nearly 96.4 trillion VND from the central budget and 31.2 trillion VND from local budgets.

About 1 trillion VND was supplied to those projects as of January 31, statistics showed. The PM targets a public investment disbursement rate at 95% for 2024.

Duc considered this target as feasible as the sum of public investment this year is over 600 trillion VND, lower than last year’s figure. Besides, nationally important projects that connect regions and have ripple effect have had their procedures basically completed, providing grounds for better disbursement.

Source: VNA