Deputy Minister of the Ministry of Planning and Investment Tran Quoc Phuong stated in a media interview with the Sai Gon Giai Phong (SGGP) Newspaper.
The National Assembly (NA) is scheduled to discuss a report on the revised Law on public investment on October 29, he added.
According to the SGGP Newspaper, in the first nine months of the year, the public disbursement rate reached 47.29 percent of the plan, lower than the same period in 2023 which achieved 51.38 percent. Currently, 31 ministries, central agencies, and 23 localities have failed to meet the national average disbursement rate.
Deputy Minister of the Ministry of Planning and Investment Tran Quoc Phuong said that the progress of public investment disbursement has not yet met expectations due to both objective and subjective factors, including limitations in the current Law on public investment.
The amended Law on public investment submitted to the National Assembly for consideration and approval at the ongoing eighth session of the 15th National Assembly has concertized five main policy groups, consisting of policies to institutionalize the mechanisms and specific policies approved by the National Assembly; policies to continue promoting decentralization and authorization; policies to enhance the quality of investment preparation, resources exploitation, and capacity for implementing public investment projects at the localities and state-owned enterprises; policies to promote the implementation and disbursement of ODA funds and concessional loans from foreign donors; and policies to simplify procedures and clarify terms and regulations, to ensure the coherence and consistency of the legal system.
At the ongoing eighth session of the 15th National Assembly, legislators have also discussed several draft laws, including the Law on Planning, the Law on Investment, the Law on Public-Private Partnerships, the Law on Bidding, the Law on Securities, the Law on Accounting, the Law on Independent Audit, the Law on State Budget, the Law on Management and Use of Public Assets, the Law on Tax Management, and the Law on National Reserves.
The proposed amended Public Investment Law is set to take effect on January 1, 2025, due to the mid-term public investment plan for the 2026-2030 period that will be created in 2025. If the law is approved in this session, the 2026-2030 plan will be implemented in accordance with the amended law, eliminating complex transitional phases.
Deputy to the National Assembly Tran Anh Tuan, head of the HCMC’s Enterprise Management and Innovation Board said that the draft amendments to the Law of Public Investment would allow for land clearance, compensation, and resettlement works of a project to be separated into its independent project, and solve problems in the fund allocation.
