Ministry of Planning and Investment: Strive to Disburse Over 95% of Public Investment Capital in 2024
- 152
- Business
- 13:47 12/01/2024
DNHN - One of the core tasks of the sector in 2024 is to strive to disburse over 95% of the public investment capital as assigned by the Prime Minister; continuing to use public investment capital as seed capital to attract investment from economic sectors.
The Minister of Planning and Investment, Nguyen Chi Dung, made this declaration during the "Conference on Concluding the Work of 2023 and Deploying Tasks for 2024," which took place early on January 11 in Hanoi.
The Minister states that to evaluate the medium-term public investment plan for the 2021–2025 period and to develop a plan for the 2026–2030 period in conjunction with the resolutions of the Politburo, the national master plan, and regional and local plans, the planning and investment sector will work in coordination with ministries, sectors, and localities.
The government will continue to allocate resources in the 2026–2030 timeframe to complete the construction of at least 5,000 km of motorways by 2030; connecting routes to complete the multi-modal transport network and boost national competitiveness; seaport systems; and railway infrastructure, particularly the implementation of the high-speed railway investment project on the North–South axis.
To promote the disbursement of public investment capital in 2023, the Ministry of Planning and Investment, as the state management agency for public investment, has issued seven telegrams and 13 documents urging ministries, central agencies, and localities to complete investment procedures for projects and allocate detailed plans for public investment capital in 2023. Simultaneously, it has steadfastly put into practice strategies to increase disbursement related to enhancing the management and utilisation of public investment capital, starting from the start of the year; these include routinely monitoring, overseeing, and fortifying discipline and order in the disbursement of public investment capital, as well as connecting the heads of agencies and units' accountability with the disbursement outcomes.
Notably, there have been numerous improvements in the public investment capital disbursement in 2023; both in absolute and relative terms, the monthly and quarterly disbursement results are consistently greater than over the same period. Additionally, working groups led by the prime minister, working delegations comprised of government officials, and working groups within communities have been established to push for and eliminate challenges and roadblocks, particularly in the execution of major infrastructure projects, particularly those involving motorways, coastal regions, and interregions.
As a result, public investment capital distribution has been progressing much more quickly each month, which is an important factor supporting economic growth. It is projected that the public investment capital disbursement rate will be roughly 95% in 2023, which is 3.58 percentage points higher than the 2022 rate of 91.42%.
The conference report states that in 2023, the Ministry of Planning and Investment diligently adhered to the Government's and the National Assembly's resolutions rigorously carried out the directives of the Prime Minister and the Government, and pro-actively offered advice and suggested procedures, mechanisms, and policies. The objectives are to eliminate obstacles, encourage business and production, hasten the release of public investment funds, guarantee social security, generate growth scenarios, grab recovery possibilities, and infuse new life into the nation's economic progress.
To actively advise the Government and the Prime Minister on appropriate development scenarios and response solutions to minimise negative impacts and achieve dual goals in socio-economic development, the Ministry of Planning and Investment promptly studied, monitored, assessed, and forecasted the situation in 2023.
The Ministry's suggested solutions are strong, targeted, adequately detailed, adaptable, and follow both immediate and long-term needs. As a result, it encourages the distribution of money from public investments, as well as innovation, digital transformation, regional connectivity, and company development. By doing this, it promotes sustainable development and green growth in the economy following the global green recovery process.
The Ministry has effectively advised the Government and the Prime Minister to study and implement measures to continue attracting high-quality FDI flows; promote the improvement of the investment and business environment to create favourable conditions, increase confidence, and inspire the entrepreneurial spirit, creativity, and mettle of businesses.
In addition, it keeps taking the initiative and working with ministries, businesses, and communities to define policies that support new economic models (such as the sharing, digital, nighttime, and circular economies) and the need for sustainable development after COVID-19.
T.H
Related news
- QuickPack Group (Germany) invests Eur30 million in Dong Tam Group'S Southeast ASIA Long An Industrial Park in Long An (Vietnam)
- "The Vietnam-Korea Investment Cooperation Forum 2024 is a testament to the spirit of innovation and sustainable collaboration."
- KBIZ's 60-year journey in building a solid foundation for South Korea's small and medium enterprise community
- Gold peaks, stocks languish: Experts identify opportunities for investors
- What categories are included in the additional audit subjects?
- General Secretary Tô Lâm sounded the alarm on preventing and combating waste
- The potential of the blockchain and cryptocurrency
- Electricity price hike and the long-term energy dilemma
- Institutional obstacles "tie up" enterprises and challenge economic growth
- Vietnam stands poised to seize opportunities in the semiconductor industry
- Southeast enterprises integrate renewable energy into production
- ‘'Bầu Đức'’ and the banana revolution at Hoang Anh Gia Lai
- Foxconn expands investment with additional $80 million for chip production in Bắc Giang
- The National Assembly supports strong decentralization in public investment
- Dr. Nguyễn Văn Thân, Chairman of Vinasme: The 15-17% preferential tax rate fails to truly support small and micro enterprises
- Real estate capital faces risks from credit to bonds
- Vietnam emerges as a new hub in the global semiconductor industry
- Foreign investment: A key driver of Vietnam's economic growth
- Draft resolution on commercial housing: A new opportunity for the real estate market
- VINASME Championship SHB Cup 2024 Golf Tournament: Business leaders shine with elite swings
Đọc thêm Business
QuickPack Group (Germany) invests Eur30 million in Dong Tam Group'S Southeast ASIA Long An Industrial Park in Long An (Vietnam)
On November 18, 2024, in Cologne, Germany, Dong Tam Group (Vietnam) officially signed a Memorandum of Understanding (MOU) for an investment cooperation with QuickPack Group (Germany).
Gold peaks, stocks languish: Experts identify opportunities for investors
Gold prices have peaked due to political and monetary factors, but face the risk of adjustment. Stocks remain difficult to recover due to weak liquidity and ongoing foreign net sales.
General Secretary Tô Lâm sounded the alarm on preventing and combating waste
General Secretary Tô Lâm has addressed visible waste and identified invisible forms of waste, delivering a powerful message with profound awakening implications...
Electricity price hike and the long-term energy dilemma
With EVN's third price hike since 2023, rising electricity costs burden households and industries. Experts warn that sustained losses threaten future power projects, urging reforms to boost investment and ensure energy security.
Vietnam stands poised to seize opportunities in the semiconductor industry
In the context of a rapidly evolving global economy driven by digitalization, the semiconductor industry has emerged as a key strategic pillar.
Pilot project for commercial housing to expand land use rights
The National Assembly Standing Committee has submitted a pilot project on commercial housing through land use rights agreements for National Assembly consideration, aiming to unlock resources.
The National Assembly supports strong decentralization in public investment
The National Assembly has approved a policy of decentralization in public investment management, demonstrating a commitment to economic development and creating opportunities for local governments to mobilize resources.
Assoc. Prof. Dr. Tran Kim Chung: The 1987 Land Law laid the foundation for the real estate market
Assoc. Prof. Dr. Tran Kim Chung, former Deputy Director of the Central Institute for Economic Management, states that the 1987 Land Law laid the groundwork for the development of the real estate market.
Bank interest rates on 31st October: Major players compete fiercely
Bank interest rates have been highly volatile, with one bank making its second rate adjustment in the month as of October 31, 2024, underscoring the competitive landscape.
Amendment of the PPP Law: A new direction to unlock investment resources
To address obstacles in investment through the PPP model, the Ministry of Planning and Investment has submitted a proposal to amend the PPP Law, creating a more favorable legal framework for investors.