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Dec 02, 2022 / 20:50

Hanoi mayor urges drastic actions to lift public investment performance

Hanoi aims to end the year with a high disbursement rate of public funds, seen as a critical task for overall socio-economic development efforts.

All departments, units, and localities in Hanoi are expected to take drastic actions to accelerate the disbursement progress of public funds, as the results are seen as a key factor in evaluating the capability of senior officials and collective groups.

 Overview of the meeting. Photo: The Hanoi Times

Chairman of the Hanoi People's Committee Tran Sy Thanh gave the remarks during a conference held today [December 2], discussing solutions to improve the progress of public projects.

Data from the municipal Department of Planning and Investment revealed as of November 28, Hanoi disbursed around VND25 trillion (US$1.02 billion), or 49% of the year's target. Of the total, VND7.66 trillion ($314.4 million) was from city-level projects, or 35.4% of the yearly plan, and VND17.3 trillion ($710 million) was from district-level ones or 58.9%.

The department's report added 13 units, and districts posted a higher disbursement rate than the city's average of 49%. They include the Thang Long Project Management Board (100%), Transportation Board (65.1%), Hoang Mai District (100%), Ba Dinh District (97.5%), Dong Da District (81%), or Dan Phuong District (77.3%).

On the contrary, 24 units have a below-average disbursement rate, including 10 with under 20%, such as the Department of Natural Resources and Environment (0.5%); Hanoi Museum (6.9%); Soc Son District (10.9%); Me Linh District (13.4%); My Duc District (0.7%); and Ung Hoa District (16.7%).

At the meeting, representatives of agencies and localities attributed the shortcomings in project planning and implementation as major issues leading to slow disbursement progress and the lack of commitment from their leaders.

According to Hanoi Mayor Tran Sy Thanh, Hanoi is putting solid efforts into public investment, but the overall disbursement rate remains low compared to the target.

"Given the limited until year-end, all units and agencies have to put utmost priority in raising the disbursement rate," Thanh said while calling for measures to ensure project quality and efficiency in public funds.

Thanh stressed the necessity for the entire political system to draw the highest determination and responsibility to ensure the completion of public projects and realize the public investment goals for this year.

For 2022, the city drafted two scenarios for public investment. In a more optimistic case, the city would disburse 90% of the VND51.58 trillion ($2.07 billion) and 82.6% in a less favorable situation.

A recent directive issued by Prime Minister Pham Minh Chinh emphasized that a high rate of disbursement of public funds remains an essential task for Vietnam's socio-economic development, including achieving an estimated GDP growth of around 8% this year.

Data from the Ministry of Finance revealed that as of October, the total amount of public funds disbursed stood at VND293 trillion (US$11.8 billion), or 51.34% of the year's target.
In this regard, ensuring high public investment performance in the coming months requires greater responsibility from leaders in agencies, units, and localities.