In an interview granted to Vietnam News Agency (VNA) on the role of public investment in the national economic growth, Huong noted that in the second quarter of this year, Vietnam posted an economic growth rate of 4.14%, higher than the 3.28% recorded in the first quarter of this year, showing the efficiency of policies and measures given by the Government and Prime Minister.

Public investment disbursement helps boost growth of economic sectors.

In the second quarter, over VND 140.4 trillion (USD 5.93 billion) of public investment was disbursed, completing 19.93% of the plan for the whole year, up 52.8% over the first quarter and 21.8% year on year.

The total disbursement in the first half of this year was estimated at over VND 232.2 trillion, fulfilling 33% of the yearly plan, and up 20.5% year on year, which is a positive result, she said, attributing it to the efforts and determination of the Government, the Prime Minister and ministries, sectors and localities in speeding up the pubic-invested projects right from the beginning of the year.

She underlined that many projects in the socio-economic recovery and development program have had their investment procedure completed to enable their implementation, the same as for many others in the middle-term public investment plan in the 2021-2025 period, which will make the disbursement of public investment capital in this year faster than previous years.

Along with the efforts of ministries, sectors and localities in the work, investors and project management boards have also shown strong performance in implementing the projects, she said.

Particularly, the Prime Minister has direct drastic measures to remove difficulties and obstacles hindering public investment disbursement to speed up the work, with the issuance of various decisions and directives, including a decision to form five working groups specializing in the work in ministries, sectors and localities, and a directive specifying major solutions to speed up public investment capital and that for three national target programs in 2023 and the socio-economic recovery and development program, Huong noted.

Regarding measures to strengthen public investment disbursement for the rest of the year, the GSO leader said that there is a long way to go to complete the target of disbursing 95-100% of the total public investment capital for this year.

She held that it is necessary to focus on completing the legal system for the implementation of public-invested projects from project preparation to operation.

Ministries, sectors and localities should drastically realize directions given by the Government and the PM on the allocation and disbursement of public investment capital and capital for the three national target programs and the socio-economic recovery and development program, she said.

Huong stressed the need for leaders of ministries, sectors and localities to directly follow particular project groups to give timely measures to settle difficulties.

Together with preparing land for the project, it is necessary to ensure quality of the projects and efficiency of the capital by reviewing and assessing the disbursement of each project to make adjustments, she said.

Huong also underlined the necessity to strengthen administrative discipline, decentralization and delegation of power, improving leading officials’ sense of responsibility, and strictly handling violations, while enhancing coordination among ministries, sectors, central agencies and localities in the work.

The People’s Committees of centrally-run cities and provinces should roll out measures to control prices and quality of construction materials for projects using public investment capital, laying the foundation for the adjustment of bidding packages and total investment of projects, Huong added.

Source: VNA