Promote disbursement of public investment capital to drive growth

Speeding up the disbursement of public investment is one of the Government's key solutions to ensure the achievement of growth goals, promote production and business, and stabilize the macro-economy.

Contractor Lizen implements the construction of the north-south expressway section of national highway 45-Nghi Son.

The target of 6.5% growth in 2023 is considered challenging because important drivers of the economy such as exports, domestic demand, production scale,... all tend to decrease. The room to support growth will also be narrower because monetary and fiscal policies still have to keep an eye on inflation. Against this backdrop, public investment emerges as an engine of growth.

Finalize disbursement right from the beginning of the year

According to the Ministry of Finance, disbursement of public investment as of December 31, 2022 reached 75.11% of the plan assigned by the Prime Minister, lower than the same period in 2021 (77.3%). Estimated disbursement as of January 31, 2023 reached 92.97% of the plan assigned by the Prime Minister, lower than the disbursement rate of 95.11% in the same period in 2022. However, the absolute disbursed amount of The year 2022 up to this point is about VND 100 trillion higher than the same period last year, up 23% due to a sharp increase in the total planned investment capital compared to previous years.

Some ministries and localities have good disbursement rates, but 36/51 ministries, central agencies and 21/63 localities have disbursement rates below the national average. Notably, there are 17 ministries, branches and seven localities with disbursement rate below 50% of the plan. As one of the localities that did not meet the target of disbursing the state budget investment plan, the People's Committee of Ho Chi Minh City has asked the entire system to tighten discipline and discipline in the work. disbursing public investment capital to change the situation in the coming time. Chairman of the People's Committee of Ho Chi Minh City Phan Van Mai personally admitted to reducing the emulation level by one level and asked to continue to strengthen this emulation content in 2023, demonstrating the responsibility of the leader in perform the task of disbursing public investment capital.

Regarding the allocation of public investment capital in 2023, the Ministry of Finance said: The public investment capital plan in 2023 has been approved by the National Assembly more than 711 trillion VND. Based on the detailed allocation of capital by the National Assembly to each ministry, central agency, or locality, the Prime Minister has assigned a capital plan equal to 100% of the capital amount decided by the National Assembly. By the end of January 31, 2023, ministries, branches and localities have allocated and assigned detailed plans for the list of tasks and projects more than 516 trillion VND, reaching 73.1% of the Prime Minister's plan. deliver. Regarding disbursement of investment capital, it is estimated that payment by January 31, 2023 will reach more than VND 12.8 trillion, equal to 1.81% of the plan assigned by the Prime Minister (2.5% in the same period in 2022). All capital is domestic.

Synchronous implementation of solutions

According to Deputy Minister of Planning and Investment Tran Quoc Phuong, public investment activities in 2023 will face many challenges. It is a huge disbursement task because the total planned investment capital increases sharply, and in the context of the lag of world inflation, it will reflect on the domestic economic situation with unpredictable fluctuations in prices. energy, raw materials and essential materials of the construction industry.

Therefore, to achieve the goal of promoting disbursement, a total solution is needed. First of all, public investment must be identified as a top priority for consistency in governance. Experience shows that, with the same system of institutions, policies and laws, where there is close attention and direction of the head and close coordination between related departments, departments, there are disbursement progress will be high. Another important factor is to maintain large balances, creating a foundation for boosting economic activities, including public investment. Also according to Deputy Minister Tran Quoc Phuong, the fundamental solution that needs to be implemented is to review and perfect the legal system governing the operation of public investment projects. First of all, it is necessary to immediately correct the shortcomings discovered in 2022, which are summarized by the Ministry of Planning and Investment into three main groups related to institutions, policies and laws; The organization, implementation and grouping of difficulties related to the peculiarities of 2022 have lasted until now. "On the side of ministries, branches and localities, it is necessary to do well in investment preparation, project implementation, inspection and review of each project to arrange capital plan in 2023, especially projects to start new construction, select a project that meets all investment procedures, meets the conditions for allocating capital as prescribed, improves the readiness and feasibility, the ability to implement the project,... This is the block. The amount of work is very large, there needs to be drastic involvement of the whole political system," emphasized Deputy Minister Tran Quoc Phuong.