At the meeting reviewing the results of the fourth meeting, discussing various solutions, and resolving difficulties and obstacles to implement related projects and projects, Prime Minister Pham Minh Thanh of the Vietnamese government requested that ministries and industries need to strengthen the reform of the administrative approval system; approve projects as soon as possible; focus on Implement land acquisition and demolition work; speed up the construction progress of the project, etc.
Prime Minister Pham Minh Trung stressed that through public investment, funds will be brought into the economy to create jobs and livelihoods for the people to revitalize the economy and promote development.
According to statistics from the Ministry of Planning and Investment of Vietnam, in the first quarter of 2023, the public investment funds invested in the economy were 73.192 trillion VND, and the payment ratio reached 10.35% of the plan designated by the Prime Minister, which was lower than the 11.88% level in the same period last year.
Minister of Planning and Investment Nguyen Chi Dung said that by the end of March 2023, the payment rate of public investment funds in 48 central departments and agencies and 28 localities was lower than the national average.
The reason for the slow progress in the allocation of funds is that some projects that use the investment funds from the state budget in 2023 have not yet completed investment procedures, obstacles to demolition and land acquisition, and insufficient supply of materials.
Industry expert Ruan Bilin believes that public investment is the driving force of economic growth. In the context of the decline in global aggregate demand affecting Vietnam's exports, accelerating the payment of public investment funds is an important and effective solution to restore and improve economic competitiveness and promote economic growth.