Urgent disbursement of public investment capital

There are more than 4 months left until the end of 2022, when the whole province must complete the plan to disburse public investment capital according to regulations. However, up to this point, the disbursement rate of public investment capital in 2022 is still very slow compared to the set target, which requires the determination and efforts of investors and contractors.

According to the report of the State Treasury of Quang Ninh province, the total public investment spending plan in 2022, after adjustment and supplement to July 31, 2022, is over 16,500 billion VND, accounting for 50% of the total local budget expenditure. Up to now, more than 15,900 billion dong has been detailed, including 892 billion dong from the central budget, over 7,900 billion dong from the provincial budget, and over 7,000 billion dong from the local budget.

Although there has been a consensus on direction from the province to investors, related departments and agencies, by June 30, the disbursement rate of public investment capital in the locality must reach 50% of the plan, up to 30/ 9 disbursement rate reached 80% of the plan, by December 31, 100% of the capital disbursement plan was completed. However, by the end of July 31, 2022, according to the report of the State Treasury of the province, if excluding the detailed undistributed capital of VND 595 billion and the ODA capital of the drainage and wastewater treatment project in Ha Noi, Long, the disbursement rate of the whole province will reach 40.4% of the plan, lower than the same period in 2021 (reaching 43.3% of the plan). Compared with the plan assigned by the Prime Minister at the beginning of the year, the disbursement rate of the whole province reached 56.1% of the plan, higher than the average disbursement of the whole country (reaching 31.5%).

The reason for the low disbursement rate was determined that the fluctuation of construction price, the price of raw materials was too large, affecting the financial plan of the contractors; site clearance is slow, the source of backfill soil and the location of waste disposal are lacking. For new construction projects, the time to prepare investment procedures is long, about 4-6 months; For transitional projects, because the contract has been advanced since the end of 2021, the amount of completion in the first months of this year is only enough for the advance, no volume has arisen.