Hà Nội takes drastic measures to disburse public investment

Construction underway on Hà Nội’s Ring Road No. 4 (section through Quốc Oai District) — Photo hanoimoi.vn

HÀ NỘI - Hà Nội is currently in a crucial phase of public investment disbursement, striving to maximise funding allocation so as to improve the efficiency of capital utilisation, accelerate the development of infrastructure, and enhance the capital city's competitiveness.

According to data from the city’s State, as of October 31, the city had achieved 40.1 per cent of its disbursement plan for basic construction assigned by the Prime Minister.

In 2024, the total public investment allocated to Hà Nội is set to increase by 53 per cent compared to 2023. While these results are commendable, the volume of work required to meet the disbursement deadline remains substantial.

To achieve the goal of over 95 per cent of disbursement, the municipal People's Committee has directed agencies, particularly those with large capital allocations, to take swift actions in project construction, strengthen strict discipline, and prompt settlement of obstacles and difficulties.

Additionally, agencies are urged to expedite payments as soon as work is completed, include public expenditure control in the responsibilities of the leaders of units, and publicly disclose monthly disbursement results.

The municipal Department of Planning and Investment reported on October 25 that there are still 33 agencies that have not met their commitments for public investment disbursement.

The total amount needed to be disbursed in the remaining months of this year is VNĐ44.9 trillion (US$1.77 billion), or 55.4 per cent of the planned capital.

Chairman of the Hà Nội People's Committee Trần Sỹ Thanh recently issued a directive on accelerating the disbursement of public investment in the last months. Therefore, units that are slow in disbursement are urged to promptly review their processes, rectify existing issues, and implement all necessary measures to expedite the completion of public investment disbursement tasks for 2024.