Five-month public capital disbursement remains sluggish

The total disbursed investment capital reached nearly VND96,900 billion in the first five months of 2019, representing only 23 per cent of the yearly target set by the National Assembly.

The information was released at a teleconference discussing public investment disbursement - related issues for 2019, held by the State Treasury of Vietnam in Hanoi on May 31.

According to statistics of the State Treasury, as of May 31, the total disbursed investment capital reached nearly VND96,900 billion, equaling that of the same period last year, yet making up only 23 per cent of the target set by the National Assembly for this year.

Some localities have achieved high disbursement capital rates. Notably, the northern province of Ninh Binh topped the list of such localities with a ratio of 63 per cent, followed by the provinces of Nghe An, Nam Dinh, and Tuyen Quang which all reached a ratio of 58 per cent. The disbursement rate of Phu Tho and Lao Cai provinces was recorded at 50 per cent.

Many project management boards and project investors blamed the sluggish disbursement process on shortcomings in investment procedures, long delays of capital allocation, and difficulties in ground clearance.

The total public investment capital which ministries, central and local authorities had allocated for eligible projects, amounted to VND360.115 trillion (US$15.48 billion) as of May 25, equivalent to 98 per cent of the plan assigned by the Prime Minister.

Conference attendees noted that as the rainy season begins in many localities, more concerted efforts are needed to quicken the implementation of projects during the remaining months of the year, as well as ensure the yearly disbursement progress.

The State Treasury of Vietnam affirmed that it would continue co-ordinating closely and guiding stakeholders to complete relevant procedures while simultaneously accelerating the payment for investors and project management boards.