Prime Minister's request for promotion of public investment capital disbursement in the final months of 2024 in Vietnam

Prime Minister's request for promotion of public investment capital disbursement in the final months of 2024 in Vietnam

To contribute to promoting growth, stabilizing the macroeconomy, and ensuring major economic balances, the Prime Minister of Vietnam has instructed ministries, central agencies, and localities to continue emphasizing responsibility and focus on leadership, direction, and quick, effective implementation of the following key tasks and solutions according to their functions, duties, and authority in Vietnam:

- Fully comprehend the role and significance of public investment in socio-economic development, identifying the disbursement of public investment capital as one of the top important political tasks of all levels and sectors, contributing to economic growth, creating new development space, reducing logistics costs, and creating jobs and livelihoods for the people.

- Continue to seriously implement the instructions of the Government of Vietnam's leaders regarding addressing difficulties related to mine licensing, stone, sand, and soil material exploitation; implementing measures to control the price and quality of materials for public investment projects quickly, effectively, and in accordance with the law.

- Accelerate progress and reduce the time for administrative procedures related to the disbursement of public investment capital by at least 30%, enhance the work of payments and settlements for public investment capital, ensuring no backlog of completed volumes that are not paid, and avoid accumulating payments at the end of the year.

- Request high determination, great effort, decisive, specific, and effective actions from party committees and local authorities; with clear delegation of tasks specifying who is responsible for what, as well as clarity in responsibilities, timelines, and results; focus on urging, inspection, supervision, and actively and promptly addressing difficulties and obstacles within their authority or report and propose solutions to competent authorities in accordance with regulations in Vietnam.

- Proactively review and assess the disbursement capability of each project, summarize the need for additional funds for projects, and have plans to adjust the capital plan from projects with slow disbursement to projects capable of disbursement within the ministry, central agency, or locality as per regulations in Vietnam.

More details can be found in Official Telegram 104/CD-TTg dated October 8, 2024.

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