Innovative solutions are needed for public investment in Vietnam

The President said that despite the efforts made in this regard, the results still do not meet expectations, as 33 out of 44 central ministries and agencies and 28 out of 63 provinces and cities in the country have so far reported disbursement rates below the national average from the government.

At a government meeting on the issue, Minh Chinh asked for analysis of the reasons that led to this situation, especially the difficulties in institutional and legal regulations, as well as in leadership, management, guidance and implementation activities.

The Vietnamese prime minister proposed canceling and transferring capital from troubled projects to efficient ones, and called for taking public investment capital spending as a criterion for evaluating officials’ performance.

He also urged ministries, authorities and local authorities to raise their resolve to maintain discipline, overcome obstacles that arise in practice, renew work methods, apply new and modern technological solutions and increase digital transformation. He also called for securing raw materials for projects, ensuring capable, dedicated and qualified human resources for work, achieving a balance between the interests of the state, investors and the people, and maintaining the quality, safety and environmental health of work in accordance with established controls. plans.

On the other hand, he assigned the Ministry of Planning and Investment to coordinate with the relevant authorities to prepare a directive on the main tasks and solutions aimed at enhancing the disbursement of capital for these purposes, and to study the Public Investment Law and other relevant legislation with a view to amending it.

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According to his own portfolio, the Vietnamese chief executive has already issued two directives, four bureaus and several documents aimed at accelerating public capital investment.

As of July 10, ministries, central and local authorities have allocated about $25 billion for specific works and projects, equivalent to 95.5 percent of the plan set by the Prime Minister.

But as of June 30, only about $7.7 billion had been disbursed, an amount equivalent to 29.39 percent of the set target.

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