To accelerate disbursement of public investment capital

In the first quarter of 2023, socio-economic sector is assessed to achieve good growth, but there were still "bottlenecks" that need to be quickly removed to free up resources and accelerate development in the second quarter and the whole year 2023. One of the "bottlenecks" pointed out by provincial leaders and requested by departments, branches, and localities in the province is speed up disbursement of public investment capital. To do this, provincial leaders asked departments, branches and localities to properly identify the bottlenecks of each project and have specific solutions to unlock capital flows to the market.

Public investment is seen as a driving force for growth. Accelerating the introduction of public investment capital into the market will have a great impact on many aspects of socio-economic life. In the short run, public investment is a demand of the economy. The economy is lacking demand, to promote growth, it must increase demand. In the current context, accelerating the disbursement of public investment capital both increases demand and makes an important contribution to increasing liquidity.

In the long term, accelerating disbursement of public investment means accelerating the implementation of projects, forming important infrastructure works to increase connectivity and create new investment opportunities for other economic sectors. In other words, public investment as an investment entail and promotes investment capital, thereby mobilizing more resources to promote growth. The pressure to disburse public investment capital in 2023 is very great, when both disbursing the 2023 capital plan and having to disburse the remaining capital plan in 2022. Therefore, the disbursement of public investment capital has become a key task of provincial and local leaders.

From the beginning of the year until now, provincial leaders have continuously established delegations to inspect and inspect works and projects in the province to promptly remove difficulties for construction units. Key projects such as upgrading and expanding National Highway 13, North Tan Uyen - Phu Giao - Bau Bang route are concerned by provincial leaders to remove difficulties so that the construction unit can speed up the progress. Meetings to resolve difficulties regarding the progress of site clearance for major projects such as Ring Road 3, Ring 4, Ho Chi Minh City - Chon Thanh Expressway continuously took place. All show the eagerness to bring public investment capital into the market of the provincial leaders. Despite many efforts, the disbursement speed of public investment capital in the first 3 months of the year is still very slow. The cause pointed out by departments, branches and localities is due to problems in regulations related to the authority to adjust capital plans, separate site clearance projects into independent projects, and land acquisition policies, compensation for site clearance, resettlement support...

Notably, obstacles in construction, issuance of land price plans, coordination in the relocation of technical infrastructure works are greatly affecting construction work. The stage of appraisal and approval of land unit prices is still the biggest "bottleneck" that needs to be cleared.

The above problems have been discussed by provincial leaders and delegates at the preliminary meeting of the socio-economic situation in the first quarter of 2023, and proposed solutions to clear "bottlenecks" and speed up disbursement of public investment capital.

Reported by Le Quang - Translated by Ngoc Huynh