On October 8, Prime Minister Pham Minh Chinh issued a directive urging the acceleration of public investment disbursement for the final months of 2024.

The directive highlighted that the public investment disbursement rate for the first nine months of 2024 was estimated at 47.29% of the plan assigned by the Prime Minister, lower than the 51.38% recorded during the same period in 2023, and failing to meet expectations.

The Prime Minister commended 13 ministries, central agencies, and 40 localities for their efforts in surpassing the national average disbursement rate for public investment in the first nine months of the year.

At the same time, 31 ministries and 23 localities were criticized for their underperformance, with disbursement rates below the national average.

Reducing public investment procedures by at least 30%

To push for greater public investment disbursement and achieve a target of 95% disbursement for 2024, the Prime Minister stressed the crucial role of public investment in driving socio-economic development. It was emphasized as one of the top political priorities, contributing to economic growth, reducing logistics costs, creating new development opportunities, and generating jobs and livelihoods for the population.

The Prime Minister urged a decisive approach to leadership and implementation of public investment projects. He called for the execution of "5 determinations" and "5 assurances" during the process, promoting a work ethic of "working through all weather conditions," "maximizing effort," and "working non-stop through holidays."

Local authorities and agencies are urged to assign clear responsibilities, tasks, and timelines, ensuring accountability. Regular monitoring, problem-solving, and rapid decision-making are key to removing bottlenecks in public investment execution.

Further efforts should focus on swiftly addressing the aftermath of Typhoon Yagi, stabilizing resources such as manpower and equipment, and quickly resuming the construction of public investment projects impacted by the storm and subsequent flooding.

Prime Minister Chinh also emphasized accelerating land clearance efforts, ensuring that sufficient funding is allocated for compensation and resettlement where required. Expedited efforts are needed to clear land for construction and infrastructure projects.

Moreover, the Prime Minister called for reducing the time required to complete public investment-related administrative procedures by at least 30%. Payment processing must be expedited, ensuring no backlog in completed projects awaiting payment and avoiding a rush of payments toward the end of the year.

Immediate replacement of inefficient officials

The directive also included instructions to review the progress of each public investment project, reallocating funds from slow-moving projects to those capable of disbursing more quickly. Ministries and localities were advised to take a proactive approach in this review process.

Disciplinary actions will be taken against individuals and entities that intentionally obstruct or delay public investment projects. Prime Minister Chinh demanded the immediate replacement of any public officials found to be underperforming, obstructive, or engaged in corrupt practices.

Prime Minister Chinh also highlighted the need to eliminate delays in project funding and ensure that all conditions are met for the timely execution of the 2025 public investment plan.

Cities such as Hanoi and Ho Chi Minh City were encouraged to fully leverage their economic leadership roles and accelerate the disbursement of public investment funds for 2024, thereby driving both traditional and new growth engines for the national economy.

Taskforce leaders, along with government ministers, were instructed to intensify inspections, resolve difficulties, and boost public investment disbursement across the country.

Thu Hang