Hanoi: As much as 579.8 trillion VND (23.77 billion USD) worth of public investment was disbursed last year, equivalent to 73.5% of the yearly plan and nearly 82% of that assigned by the Prime Minister, according to the Ministry of Finance.

In a report sent to the Government leader, the ministry lauded several units and localities with high disbursement rates (85-95%) such as the State Bank of Vietnam, the Ministry of Transport, the Ministry of National Defence, and Long An, Quang Ngai, Dong Thap and Ca Mau provinces.

However, 63 out of 115 units and localities had estimated figures lower than the national average, with 12 reporting disbursement rates of under 20%, and two under 40%, it noted.

The ministry said that reasons for low disbursement rates were conflicts between mechanisms and policies, some legal regulations on site clearance, and the mechanism of assigning several localities to hold the prime responsibility for realising public investment in building roads passing through many localities and u
sing the budget of one locality to support others.

To date, although some mechanisms have been amended, there are many issues still being reviewed, affecting the progress of capital disbursement, it added.

The ministry stressed the need to continue accelerating previously proposed public investment disbursement solutions. Project developers also need to soon appraise and accept the completed workloads and complete advance documents to send to the State Treasury for payment.

It also urged units to soon make a plan for the capital that has yet to be disbursed./.

Source: Vietnam News Agency