Assignment of capital plan must be close to practical implementation

Vice Chairman of the HCMC People’s Council Nguyen Van Dung chaired a working session on supervising the implementation of public investment tasks in the 2021-2025 period at the Departments of Planning and Investment, and Finance on May 25.

Speaking at the meeting, Mr. Nguyen Van Dung affirmed the important role of the two departments in providing advice to the municipal authorities on identifying and balancing sources of capital, building and implementing the medium-term public investment plan for the 2021-2025 period, and plan of annual capital allocation. However, the cooperation in building the annual public investment plan between the two units is still limited.

In fact, there has been a disparity between the balance of state budget sources and levels of budget in recent years. The implementation of tasks of evaluation and approval of projects, and cost estimates is still slow.

In 2021, the number of unfished projects was 1,285, and completed projects with approved cost estimation were 923 out of 2,208 projects.

Vice Chairman of the HCMC People’s Council Nguyen Van Dung asked the two departments need to review and make a report on long-standing pending budgeting advances to submit to the HCMC People’s Committee for revocation, support the municipal People’s Committee in building and appraising medium-term public investment plan and allocating the annual capital.

As of present, there are 111 projects that have not been allocated 40 percent of the assigned medium-term capital yet and must allocate VND22,138.641 billion (US$924.5 million) for the annual plans.

Based on practical results of disbursement, around 103 projects were not yet disbursed 10 percent of the assigned medium-term capital and have to be allocated VND35,357.380 billion (US$1.5 billion) in the remaining time of the medium-term period.

The Department of Planning and Investment needs to pay attention to investors’ problems in disbursing capital to suggest measures for using and transferring capital sources to other urgent projects effectively.

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