Investment News

Need to accelerate disbursement of public investment capital


Due to many reasons, the disbursement progress of public investment capital since the beginning of the year has been slow. This is a content that many voters in the province are interested in, needing more drastic solutions to achieve the set plan.

By the end of June 2022, Quang Ninh has disbursed public investment capital of 5,993/15,917 billion VND, reaching 37.7% of the plan, lower than the same period in 2021; in which, disbursed provincial budget reached 39.7% of the plan. Some investors with high disbursement rate are: Quang Ninh Power Company; Quang Ninh Employment Service Center; Office of the Provincial People's Committee; Information and communication facilities....

 Cua Luc 3 bridge project is being accelerated construction progress.

However, 8/17 investors disburse very slowly, not reaching the target set by the province: Ha Long University; Provincial Ministry of Customs; Provincial police; Management Board of Provincial Traffic Construction Investment Project; Management Board of provincial civil and industrial construction investment projects; Provincial Economic Zone Management Board; Provincial Border Guard Command; Management Board of the investment and construction project of the province's agriculture and rural development.

For district and commune budgets, disbursement reached 38.15% of the plan, all lower than the same period in 2021. There were 5/13 localities with disbursed rate that did not meet the set target: Ha Long city (17, 9%); Mong Cai City (26%); Hai Ha district (31%); Dam Ha district (46.4%); Binh Lieu district (46.5%). Ha Long City's total capital plan is 3,237 billion VND (accounting for 44.7% of the total district budget plan), newly disbursed 17.9%, the lowest among localities, greatly affecting the rate. general disbursement of the province.

According to Mr. Nguyen Manh Cuong, Director of the Department of Planning and Investment, the reason for the slow disbursement is due to both subjective and objective factors. Objective reasons: For newly started projects, time to prepare procedures for approving contractor selection plan; elaboration, appraisal and approval of technical design, construction drawing design; selection of construction contractors... usually takes 4-6 months, so the disbursement will start from the end of the second quarter of 2022.

For transitional projects, some of the projects with a large total investment capital, because the contract has been advanced since the end of 2021, in the first months of 2022, contractors will carry out construction to complete the block. amount has been advanced, not much completed volume has arisen, not yet due for payment under the contract to the contractor, so it cannot be disbursed.

Subjective reasons: Some investors and localities are slow to implement investment procedures (making investment policies, making appraisal and approval of projects slowly), leading to some projects even though they have been approved by the Provincial People's Council. approved the investment policy from 2021, but so far, the project approval procedure has not been completed, leading to the inability to allocate detailed capital sources at the beginning of the year. The work of acceptance, handover of completed works and put into use, approval of finalization of completed projects by investors is still slow, and it is not possible to allocate capital from the beginning of the year. Out of 59 finalization projects to be completed in 2022, 23 are still unfinished.

The province identifies public investment as one of the pillars to ensure growth. Therefore, speeding up the disbursement of public investment capital is an important and urgent task, contributing to economic growth, creating more jobs and incomes, and improving the lives of workers... , in the last months of the year, it is necessary to have more timely and effective measures to speed up the disbursement of public investment capital in accordance with the Resolution passed by the Provincial People's Council at the last 9 meeting.