As of the end of September, the disbursement rate of public investment in Hanoi reached 34%, lower than the rate recorded in the same period last year of 45.64% and the country’s average at 49.14%, according to Nguyen Manh Quyen, director of the municipal Department of Planning and Investment.
Overview of the conference. Source: Hanoi's portal.
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A number of districts and departments recorded positive disbursement rate at city level, including Ha Dong district with disbursement rate of 99%, Thanh Tri district with 92%, Quoc Oai with 73%, Dan Phuong with 64% and the Project Management Unit of Agriculture and Rural Development with 44%. At the commune level are Hoai Duc commune (exceeding the disbursement plan), Dong Anh commune with 87.1% and Dan Phuong commune with 74.1%.
However, there remain 19 out of 40 project owners having disbursement rate below 20%, such as Phu Xuyen district with 2%, Phuc Tho district with 3%, My Duc with 6%, Project Management Unit of Transportation Works with 12%, Project Management Unit of Civil and Industrial Works with 12%, Project Management Unit of Water Provision and Drainage with 16%.
Quyen said the number of projects under the city’s management are 223, including 86 ongoing and 137 new projects. As of present, project owners have approved the contractor selection process for 126 out of 137 projects, which are scheduled to kick start in 2019.
Quyen attributed the sluggish disbursement of public investment to projects that started construction at the end of 2018 and received advanced payment. In 2019, both project owners and contractors have to complete the work volume related to the advanced payment.
For new projects, Quyen pointed to time-consuming process of setting up and approving the design and financial estimate, leading to delay in bidding process and project commencement.
Meanwhile, there are 21 projects facing difficulties in site clearance process and other 18 finding hurdles in investment process .
To solve these issues, the Hanoi People’s Committee requested project owners to closely supervise the implementation progress, saying it would move funds from delayed projects to those with high disbursement rate.
