The government reported that disbursement of public investment capital in January-September 2022 meets 46.7 percent of the plan, including 48.6 percent of domestic capital and 19.03 percent of foreign capital.
The National Assembly Finance and Budget Committee commented that the government had made efforts and taken drastic measures to accelerate public investment disbursement this year.
Based on the government’s proposals, the National Assembly organized an extraordinary meeting, and the National Assembly Standing Committee held many sessions on the issues. However, the disbursement of public investment in this period was even lower than the same period of 2021.
In January-September 2022, 39/51 ministries, central agencies and 22/63 localities had a disbursement rate lower than the country’s average (46.7 percent). Of these, 14 ministries, central agencies and one locality had the disbursement rate of below 20 percent of the plans assigned by the Prime Minister. The disbursement of foreign capital was estimated at just 19.03 percent of the plan.
Since September, some ministries, central agencies and localities have given back the allocated capital because they had not used it.
The Ministry of Labor, War Invalids and Social Affairs (MOLISA), for example, has asked to give back VND173.155 trillion (26 percent of assigned plan), the Committee for Ethnic Minority Affairs VND52.7 billion (97.6 percent).
Meanwhile, the Ministry of Health (MOH) has proposed lowering foreign capital in 2021 to VND536 billion, the Ministry of Education and Training (MOET) VND589.549 billion, the Ministry of Construction (MOC) VND167.39 billion, MST VND141.67 billion, and the Party Central Office VND31.8 billion.
Provinces have also asked to return capital or lower the disbursement rate. Specifically, Hanoi wants to lower the distributed capital to VND2.217 trillion. Bac Ninh wanted to reduce allocated capital by VND1.828 trillion, including VND27 billions of official development assistance (ODA), and VND1.8 trillion from receipts from land use fees.
Dong Nai has asked to reduce ODA by VND98 billion, Khanh Hoa VND171 billion, and Can Tho VND1.45 trillion.
The National Assembly Finance and Budget Committee has asked the government to analyze agency and locality decisions to return capital and report to the National Assembly for adjustment of the state’s expenditures.