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The disbursement of public investment from the State budget in the first five months of this year was estimated to reach 190.6 trillion VND (7.44 billion USD), equal to 26.6% of the yearly target and 5% higher than the same period last year, according to the General Statistics Office (GSO).
The year 2024 is a pivotal year for Ninh Binh to implement its mid-term public investment capital plan for the 2021-2025 period. Therefore, right since the first months of 2024, local departments, sectors, and localities have focused on disbursing public investment capital with the goal of fulfilling over 95% of the assigned plan.
The Ninh Binh provincial People's Committee has requested departments, sectors, agencies and localities to speed up the disbursement of public investment allocated for 2024.
The disbursement of public investment was reported at nearly 676 trillion VND (27.52 billion USD) in 2023, reaching 95% of the set plan, also the highest level so far. In addition, public investment has been restructured to focus on projects with spillover effects.
The total disbursement of public investment reached 267.6 trillion VND (11.2 billion USD) as of the end of July, fulfilling only 35.49% of the plan set for 2023, but higher than the 34.47% recorded in the same period last year, according to the Ministry of Finance.
The provincial People's Committee of Ninh Binh has decided to establish a working group in a bid to accelerate the implementation and disbursement of public investment in 2023.
Vietnam has been accelerating the disbursement of public investment since the beginning of this year after missing its target in 2022.
Following the Prime Minister's direction in Decision No. 548/QD-TTg, dated May 2, 2022, the Ministry of Finance compiled a summary report on May 18 on inspecting and removing difficulties and obstacles while accelerating disbursement of public investment capital 2022.
Prime Minister Pham Minh Chinh signed Decision No.548/QD-TTg on May 2 to establish six working groups to inspect and remove difficulties and obstacles, and accelerate the disbursement of public investment capital in 2022 at ministries and central and local agencies that have not fully allocated the assigned public investment capital plan by April 30; with the disbursement rate as of April 30 being below the national average (18.48%).
Ninh Binh province had disbursed 1.6 trillion VND of public investment capital by July 31, equivalent to 50.1 percent of the yearly plan and higher than the average figure of the whole country. The above result was attributed to the Ninh Binh's right direction in implementing dual tasks.
The disbursement of public investment capital in Ninh Binh province reached 1.42 trillion VND (61.7 million USD) in the first six months of 2021, equivalent to 45.16 percent of the yearly plan and higher than the average figure of the whole country.
The disbursement rate of public investment capital in 2021 is expected to reach between 95-100 percent of the plan assigned by the Prime Minister, according to the Ministry of Planning and Investment.
Disbursement of public investment in April was estimated at VND30.4 trillion (over US$1.3 billion), a sharp increase of 23.9% over the same period last year and equivalent to 6.6% of the yearly target, according to the General Statistics Office (GSO).
The disbursement of public investment, including ODA and preferential loans, is considered one of the key tasks of the Vietnamese Government to promote economic development and successfully complete socio-economic development targets in 2020. However, the disbursement progress of ODA and preferential loans in Ninh Binh province still lagged behind schedule.
Prime Minister Nguyen Xuan Phuc had a working session with authorities from the northern province of Ninh Binh on July 12 to check the implementation of socio-economic development in 2020, including the disbursement of public investment.
Ninh Binh disbursed VND 2.5 trillion( 108 million USD) of public investment capital as by September 15, accounting for 94.8 percent of the Government's assigned yearly target, when the slow progress in the effort was recorded in many localities and ministries and branches nationwide.
According to the General Statistics Office (GSO), the total social investment in the first half of 2017 increased by 10.5% compared to the same period last year, equivalent to 32.8% of the GDP,
