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Official Gazette

Sunday, November 19, 2017

Government determines to accelerate disbursement of public investment capital

Updated: 07:17’ - 26/07/2016
A series of drastic measures will soon be applied in order to accelerate disbursement of capital for public investment projects.

Such is highlighted in Resolution No. 60/NQ-CP issued by the Government on July 8.
A series of drastic measures will soon be applied in order to accelerate disbursement of capital for public investment projects__Photo: Internet

Particularly, public investment project owners will need to hurry them up as the Resolution underlines that projects which fail to attain a disbursement rate of at least 30 percent at the end of September will not be allocated with capital in the next year. They therefore will have to speed up ground clearance and bidding process, take the initiative in solving difficulties so as to ensure that their projects are on schedule.

To this end, the cabinet requests competent agencies and authorities to promptly review and improve the legal framework so as to remove obstacles and difficulties, thus facilitating disbursement of capital for and improving efficiency  of public investment projects.

Specifically, the Ministry of Justice is assigned to join hands with the Ministry of Planning and Investment, the Ministry of Construction, the Ministry of Finance and related ministries and agencies to review and propose supplements to, or abolishment of, current regulations which are contrary to the Law on Public Investment, the Law on the State Budget, the Construction Law and other relevant laws. They will also work on these above-mentioned laws so as to propose amendments and supplements along the line of simplifying administrative procedures, further decentralizing and changing the management method from pre-licensing examination to post-licensing inspection.

The Ministry of Finance is required to review and amend documents guiding the control of spending and disbursement of state budget and government bond capital.

Meanwhile, the Ministry of Construction is responsible for streamlining administrative procedures for appraisal and approval of construction investment projects, approval of construction designs and total cost estimates.- (VLLF)
 

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