Efforts made to overcome challenges in public investment capital disbursement

BHG - With rapid solutions, agencies at all levels and localities are striving to meet the target for the disbursement of public investment capital. In the final days of the year, investors and contractors have been ramping up manpower and machinery, implementing detailed plans, and committing to specific work volumes. With the spirit of "working through the days and seizing the nights", they are operating in "three shifts, four teams" to accelerate progress and complete payment procedures.

Nguyen Xuan Hung, Director of the Provincial Civil and Industrial Construction Investment Project Management Board, said that his unit is focused on expediting the provincial sports and cultural complex project. To ensure progress, contractors have been required to adjust construction methods, increase work shifts, and commit to timely completion.

The components of the provincial sports and cultural complex project are being accelerated.

The province has identified the primary causes of slow disbursement as issues related to mechanisms, policies, land clearance procedures, resettlement compensation, as well as weather impacts and material shortages. Some projects also face challenges in planning adjustments, land and resource allocation, and unresolved legal issues.

To address these challenges, the province has established a task force led by the Provincial Department of Finance to resolve delays in public investment project finalisation. Investors have been being guided to complete legal procedures, with priority given to resolving key projects. However, progress remains slow due to some projects lacking suspension approval, entanglements in land clearance, missing legal documentation, and contractors no longer being available in the locality.

Another significant challenge involves projects exceeding total investment capital or comprising complex components, making it difficult to determine the authority responsible for appraisal and fund allocation. Some projects that have been unable to finalise their documentation were instructed to terminate contracts, yet proposals for settling payments based on already disbursed funds lack clear guidance.

To overcome these obstacles, the province requires investors to closely coordinate with district and city People's Committees and relevant units to address issues, expedite the relocation of technical infrastructure, and hand over cleared land to contractors.

With high determination and decisive leadership from provincial authorities, the vibrant competitive spirit on construction sites day and night promises to create a breakthrough in public investment fund disbursement.

KIM TIEN