Prime Minister of Vietnam directs to accelerate allocation and disbursement of public investment capital in 2025 in Vietnam

Prime Minister of Vietnam directs to accelerate allocation and disbursement of public investment capital in 2025 in Vietnam​ (Image from the internet)

On February 18, 2025, the Prime Minister of Vietnam issued Official Telegram 16/CD-TTg regarding urging the acceleration of allocation and disbursement of public investment capital in 2025.

Prime Minister of Vietnam directs to accelerate allocation and disbursement of public investment capital in 2025 in Vietnam

According to the content of Official Telegram 16/CD-TTg, the Prime Minister stated that as of January 23, 2025, the detailed allocation of the 2025 public investment capital plan only reached 96.07% of the plan assigned by the Government of Vietnam;

The amount of capital not yet detailed is quite large (approximately 84,840.5 billion VND) from 26 Ministries, central agencies, and 48 localities; disbursement by the end of January 2025 is estimated at 1.26% of the plan assigned by the Government of Vietnam (compared to 2.58% in the same period of 2024).

The Prime Minister of the Government of Vietnam sternly criticized the 26 Ministries, central agencies, and 48 localities for not fully complying with the detailed allocation of the state budget public investment capital plan for 2025 as assigned (as of January 23, 2025); and demanded that these Ministries, agencies, and localities seriously hold individual and collective accountability reviews to address violations according to the Communist Party's regulations and the State's laws.

Furthermore, the results of public investment capital disbursement are particularly significant, contributing to promoting growth, stabilizing macroeconomics, ensuring the major balances of the economy, creating jobs, and providing livelihoods for the public, thus fulfilling the socio-economic development plan for 2025 assigned by the Central Government and the National Assembly, particularly targeting economic growth of 8% or higher.

Therefore, the Prime Minister assigns ministries, central agencies, and localities to:

- Thoroughly understand and clearly define the task of accelerating the allocation and disbursement of the 2025 public investment capital plan as a top-tier political priority that must be focused on leading, directing, and executing at all levels and sectors. Ministers, heads of ministerial-level agencies, agencies under the Government of Vietnam, other central agencies, chairpersons of the provincial and municipal People's Committees reporting directly to the Government of Vietnam are held fully accountable to the Government of Vietnam and the Prime Minister of the Government of Vietnam for the results of the allocation and disbursement of public investment capital in 2025;

Resolutely prevent any situation where funds await projects, and ensure funds are utilized without delay. Leaders of Ministries, central agencies, and localities must uphold responsibility, be closely engaged, understand the situation thoroughly, and clearly identify the challenges, obstacles, and reasons for slow allocation and disbursement of each specific project for direct resolution; enhance close coordination between agencies and units within their management scope and with related Ministries and agencies to overcome difficulties and obstacles in project implementation and public investment capital disbursement.

- Urgently complete the detailed allocation of the state budget investment capital plan for 2025 within the first quarter of 2025 according to conformable rules, preventing further delays; if not completed by the end of the first quarter of 2025, the Government of Vietnam will retract and reallocate to other projects in need of funds for completion;

Detailed allocation of capital plans must ensure focus and emphasis, avoid spreading thin, align with implementation and disbursement capacity, and comply with laws on public investment. Promptly propose solutions for handling the remaining central state budget capital for the 2025 plan that has not been detailed in the first quarter of 2025, reporting to the Ministry of Finance and updating on the national information system on public investment according to conformable rules.

- Focus on implementing flexible, creative, prompt, effective measures and solutions to vigorously advance the execution and disbursement of public investment capital, 03 national target programs; expedite the progress of key, significant national projects, expressways, inter-regional projects with ripple effects, etc. The acceleration of public investment capital disbursement progress must be associated with ensuring the quality of works and projects, avoiding corruption, loss, waste, and group interests.

More details can be found in Official Telegram 16/CD-TTg dated February 18, 2025.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE