Deputy PM anxious at slow allocation, disbursement of public investment

Deputy Prime Minister Vuong Dinh Hue was anxious about the slow allocation and disbursement of public investment and demanded clarifying the responsibility of related officials and agencies.

Deputy PM Vuong Dinh Hue speaks at the meeting (Source: VNA)

Hanoi (VNA) – Deputy Prime MinisterVuong Dinh Hue was anxious about the slow allocation and disbursement of publicinvestment in the first half of the year and demanded clarifying theresponsibility of related officials and agencies.

Chairing a meeting on the work in Hanoi on July4, the Deputy PM said the delay affected economic growth, State budgetcollection, job generation and the efficiency of capital use.

The Minister of Planning and Investment mustpinpoint the responsibilities of those involved in the work and report to thePrime Minister before July 30, he said.

The Ministry of Planning and Investment (MPI)reported at the meeting that the total investment capital from the State budget,excluding Government bonds, planned for 2017 is 307.15 trillion VND (13.5billion USD). 

By the end of June, more than 303.07 trillionVND (13.3 billion USD) or 98.7 percent of the sum was allocated. The remaining4.074 trillion VND was capital intended for the national target programme onclimate change response and green growth, two new projects of the Ministry ofAgriculture and Rural Development and the northern mountainous province of HaGiang, and capital allocated by ministries, agencies and local administrationsin violation of rules. 

Meanwhile, the accumulated Governmentbond-sourced investment for 2017 is nearly 66.46 trillion VND (2.9 billon USD),of which only close to 11.5 trillion VND (506 million USD) was allocated duringJanuary-June.   

According to the Finance Ministry, by the end ofJune, disbursed investment capital stood at around 91.4 trillion VND (4.02billion USD), fulfilling just 25.6 percent of the target assigned by theNational Assembly and 29.6 percent of the plan approved by the Prime Minister. 

Deputy PM Hue, who is head of the Government’sworking group instructing the acceleration of disbursement of public investmentcapital, asked the MPI to report on the causes of the delayed allocation ofcapital to the national target programme on climate change response and greengrowth. He noted that the PM hadapproved the investment portfolio for the programme in May.

He also requested the ministry to make a list ofministries, agencies and localities which wrongly allocated the publicinvestment. 

The Deputy PM said the MPI must submit to thePrime Minister the plans on allocating the remaining State budget-sourcedinvestment capital and Government bonds no later than July 30.-VNA

VNA