Accelerating Public Investment Disbursement

According to the latest data from the Vinh Phuc Provincial People's Committee, the disbursement rate of public investment capital in 2024 is lower than the same period in 2023 but exceeds the national average, reaching 93.06% of the plan assigned by the government. This places Vinh Phuc 16th among 63 localities nationwide and 4th among 11 provinces and cities in the Red River Delta.

Thanks to investment, Vinh Phuc province's infrastructure has significantly improved

Several districts have achieved a high disbursement rate of public investment capital compared to the plan assigned by the province, with notable rates including Yen Lac at 139.1%, Lap Thach at 125%, Vinh Tuong at 116.4%, Vinh Yen at 114.4%, Phuc Yen at 113%, Binh Xuyen at 104.1%, Tam Dao at 89.3%, Tam Duong at 75.6% and Song Lo at 63.4%.

For 2025, Vinh Phuc province has been allocated a total public investment capital plan of VND6,898.37 billion by the government, comprising VND1,150 billion from the central budget and VND5,748.37 billion from the local budget.

As of January 31, 2025, the province has basically completed capital allocation for the year. The total disbursed public investment capital reached VND661.8 billion, equivalent to 9.6% of the government’s assigned plan, surpassing both the same period in 2024 (8.5%) and the national average disbursement rate (1.26%).

At the conference on the province’s public investment disbursement for 2025, delegates concurred that land clearance efforts encountered many challenges, including complex compensation procedures, difficulties in land recovery and allocation, and unresolved shortages of embankment soil materials. Additionally, the province faced a lack of waste disposal sites for excess earth and rock, despite a substantial surplus of construction materials in ongoing projects. Existing disposal sites were deemed insufficient to meet actual demand.

Chairman of the Provincial People's Committee Tran Duy Dong recognized the collective efforts of the entire political system in advancing public investment disbursement in 2024 and commended localities that achieved high disbursement rates.

To overcome challenges and accelerate public investment disbursement in 2025, he assigned the Vice-Chairmen of the Provincial People's Committee to take full responsibility for overseeing state management tasks related to public investment. They will be accountable for directing the implementation, execution, and disbursement of public investment capital within their respective sectors and fields.

Local authorities and project investors are directed to promptly allocate all 2025 public investment capital in accordance with regulations, enhance coordination to expedite land clearance, and develop detailed implementation and disbursement plans for each project.

Many major enterprises have selected Vinh Phuc province as their business destination

They must enforce strict accountability measures, holding units and individuals responsible for delays in project execution and capital disbursement. Project management board directors and contractors lacking capacity will be decisively replaced. Construction time must be optimized to meet implementation and disbursement targets.

Authorities are also required to update and adjust published construction material prices and price indexes monthly, aligning with market fluctuations while ensuring compliance with construction laws. Moreover, they must strictly adhere to periodic reporting requirements monthly, quarterly, or as requested to maintain transparency and oversight.

By the end of the second quarter of 2025, all completed projects that were accepted for use before December 31, 2024, must finalize payment records in accordance with regulations and achieve 100% disbursement of allocated capital. Ongoing projects should disburse over 40% of their assigned capital.

By the end of the third quarter of 2025, the disbursement rate must reach at least 60% of the allocated capital. By December 31, 2025, the overall disbursement rate for public investment capital must exceed 90%, ensuring the full utilization of 100% of any extended capital.

By Hien Hung, Vietnam Business Forum