Great efforts made for disbursement of public investment capital

BHG - The disbursement of public investment capital (PIC) has been identified by Ha Giang Province as an important task in promoting economic growth. Facing difficulties due to low disbursement rates, avoiding delays, and highlighting the responsibility of the leaders, the province is focusing on implementing solutions to ensure the planned disbursement rate is met.

Since the beginning of the year, the Provincial People's Committee has held three meetings to hear reports from the investors on the implementation of projects and the disbursement progress of the PIC plan, and three national target programmes. Additionally, the Provincial People's Committee has issued 16 documents and conclusions on accelerating the construction progress as well as the implementation and disbursement of the state budget for 2024. This demonstrates the determination and decisiveness in the leadership and management efforts of the Provincial People's Committee to boost socio-economic development.

The progress of the water elevation dam project, which will create a beautiful landscape in the centre of Ha Giang City, is being expedited.

However, due to various factors, the disbursement rate remains low. As of June 15, 2024, total disbursed capital, including the extended capital plan from 2023 to 2024 and the 2024 plan, reached only 1.3305 trillion VND out of 4.562 trillion VND, achieving 29.16% of the plan. Notably, only 18 out of 39 investors have recorded disbursement above the provincial average; 11 out of 39 saw disbursement below the provincial average; and 10 out of 39 saw no disbursement at all.

The main reasons for the low disbursement are difficulties in land clearance, issues with land and resources, and so on. Specifically, 11 districts and cities are facing difficulties regarding supply of common construction materials for projects, local shortages of manpower in some areas, and the prices of common materials being much higher than estimates, thus leading to the delays. Since the beginning of June, the province has experienced unusual weather patterns including heavy rainfall, flash floods, and landslides, which have significantly impacted the progress of projects.

To address these "bottlenecks" in PIC disbursement, the Provincial People's Committee has established the inspection teams to localities for specific and timely directives. Additionally, it has directed the provincial departments, agencies, localities, and investors to coordinate with the People's Committees of the districts and Ha Giang City to focus on accelerating land clearance, construction progress, and resolving issues related to land and resources. It has also increased inspection and supervision, and urged contractors and consultants to accelerate the progress. They have also proactively reviewed and reallocated capital within their authority from the projects with low disbursement to those with better disbursement potential and capital shortage as per regulations.

KIM TIEN