Public investment disbursement is very worrying.

Ho Chi Minh City Chairman Phan Van Mai: Public investment disbursement is very worrying

Chairman of the Ho Chi Minh City People's Committee Phan Van Mai said that the city's public investment disbursement is still very low, only reaching the target of the first quarter of 2024.

Only 200 billion VND is disbursed each week.

On the afternoon of May 31, the Ho Chi Minh City People's Committee held a regular meeting for May 2024 on socio-economic issues .

In his speech at the meeting, Chairman of the Ho Chi Minh City People's Committee Phan Van Mai said that up to now, the City's public investment disbursement is still very low, only just reaching the target of the first quarter of 2024 (10 - 12%).

Therefore, he believes that departments and experts must focus on analyzing this point. Why is the project under construction still slow? He suggests that changes must be made this June to have volume and payment.

“Disbursement is very worrying,” he said, pointing out that in April and May, the target was to disburse 3,500 billion VND - 4,000 billion VND per week, but the volume was only disbursed 200 billion VND per week.

Engineers and workers are working hard to relocate technical infrastructure to make room for metro line 2. Photo: Le Toan

Public investment capital is considered as seed capital for the economy. This year, the City was assigned about 79,000 billion VND of public investment capital.

Since the beginning of the year, the City People's Committee, investors, district departments and contractors have held weekly meetings to resolve project problems and promote disbursement.

In particular, the City focuses on removing obstacles in site clearance, unblocking resources, finding solutions to overcome the scarcity of sand sources; closing unfinished sections of Ring Road 2, accelerating the implementation of Ring Road 3, completing the testing of Metro Line 1 and moving towards completing the handover of site for Metro Line 2 project.

However, according to the socio-economic report for May and the first 5 months of 2024 of the Ho Chi Minh City Statistics Office, as of May 24, the total disbursed investment capital from the State budget was 6,705 billion VND, reaching 8.5% of the 2024 capital plan.

It is estimated that by the end of May 2024, disbursement will reach VND 10,895 billion, reaching 13.7% of the plan and increasing by 18% over the same period (in the same period in 2023, disbursement will reach VND 9,230.3 billion, reaching 13.1% of the plan).

There are situations that are too difficult to do.

Along with the disbursement of public investment, the head of the City government also requested to be determined to improve the indicators. According to him, it is necessary to identify the volume of work assigned by the Government according to the work program from the first quarter to the second quarter that is very much backlogged.

"The reason is that the coordination between departments and branches is slow. We say 7-10 days, but in reality it is twice 7 days, three times 7 days," Mr. Mai said, pointing out that in the process of implementing tasks, there are situations where it is too difficult to do or forget to do, and in the management, there are still many issues that are still being discussed, such as being late or clinging to the Central Government.

In addition, Mr. Mai also requested departments and branches to report on the implementation results of the year's theme.

Regarding Resolution 98/2023, he acknowledged that the City has implemented many contents up to now, but there are contents under the authority of the City People's Council that have not been issued. In particular, each urban block, project, organizational apparatus, economy... must review the tasks, deploy and complete.

He cited BOT, PPP projects, and attracting strategic investors that must be truly launched. At the same time, he pointed out what must be done in June, what results can be achieved in six months... calculating the completion roadmap, focusing on completing the targets.

Source: https://baodautu.vn/chu-tich-tphcm-phan-van-mai-giai-ngan-dau-tu-cong-rat-dang-lo-d216516.html