Almost VND34.75 trillion (US$1.49 billion) of public investment capital was disbursed in the first two months of 2020, equivalent to 7.38% of the year’s plan and nearly doubling the value and progress in the same period last year.

The public capital disbursement progress in the first two months of
this year fared much better than in the same period of 2019 (Photo: VNA)

More than VND33.62 trillion of domestic capital and VND1.12 trillion of foreign capital was disbursed in January and February 2020, Deputy Director of the Finance Ministry’s Department of Investment Le Tuan Anh said on March 17.

The disbursed sum in the same period of 2019 accounted for only 4.52% of the year’s target.

In particular, ministries and central agencies disbursed over VND5.89 trillion and localities, nearly VND28.86 trillion so far this year, respectively equivalent to 5.46% and 7.96% of the targets set for them. The respectively rates in the same period last year were only about 1.21% and 5%.

Outstanding performers in this work include the Vietnam Development Bank (31%), the Vietnam Farmers’ Union (13%), the Ministry of National Defence (14.4%), the Ministry of Health (11%), the Government Inspectorate (10%), along with the provinces of Ninh Binh (38%), Nam Dinh (24%), Lang Son (23%), Kon Tum (14%), and Lao Cai (13%).

Anh said although the capital disbursement progress so far this year fared much better than in the same period of 2019, it remained lower than expected since most of ministries, sectors and localities still focused on dealing with the capital they didn’t finish disbursing in 2019.

He attributed the improved progress partly to their early making of capital allocation plans and the revised Law on Public Investment, taking effect at the beginning of 2020, which empowers ministries, central agencies and localities to verify capital sources and capital balancing ability.

A national teleconference is scheduled to take place in late April to seek ways to accelerate the disbursement of public investment capital for this year, the official added.