Request to allocate investment under priority order

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Request to allocate investment under priority order

Illustrative photo: Internet.

Allocating capital must be performed under priority order

In the Decision, Deputy Prime Minister requests heads of ministries, central government agencies and People’s Committees of provinces and centrally run cities to effectively allocate the capital and comply with the Law on Public Investment, Resolutions of the National Assembly, including Resolution No. 69/2022/QH15 dated 11/11/2022 on the state budget estimate for 2023, Resolution No. 70/2022/QH15 dated 11/11/2022 on central budget allocation for 2023 and Resolution No.43/2022/QH15 dated 1/1/2022 on fiscal and monetary policies supporting the Socio-economic development and recovery program; and under the total investment and the capital structure of the project approved by the competent authority and the priority order.

Specifically, allocating sufficient capital for tasks and projects under the Socio-economic development and recovery program as prescribed in item dd, Section 1.2, Clause 1, Article 3 of Resolution No.43/2022/QH15 dated 11/01/2022 of the National Assembly.

Fully paying outstanding debts for construction (if any); allocating sufficient capital to recover the advance capital and collecting the rest in the medium-term public investment plan for 2021-2025.

If the advance capital which must be recovered in the medium-term public investment plan for the 2021-2025 period has been recovered, the ministries, central agencies and localities are allowed to allocate capital to projects under the plan approved by the Prime Minister.

Allocating capital for finished projects and hand them over before December 31; allocating capital for transitional projects that must be completed in 2023.

Disbursing sufficient capital for new projects, planning and reciprocal capital for ODA projects, concessional loans from foreign donors, state capital involved in investment projects in the form of public-private partnership; arranging capital to repay due debts in 2023 under the payment obligation of the central budget.

Allocating capital to compensate preferential interest rate credit and management fees to policy banks and allocating charter capital for policy banks and off-budget state financial funds; allocating capital for transitional projects under the approved progress, including giving priority to projects with good disbursement progress.

Allocating capital for national target projects, highway projects and traffic connection projects that have inter-regional connections and promote stable socio-economic development.

After allocating sufficient capital for these projects, capital will be allocated for new projects that have completed investment procedures.

The capital allocated for each project must exceed the total project investment minus the capital until the end of 2022 and must not exceed the capital in the medium-term public investment plan for the 2021-2025 period, minus the disbursed capital in 2021 and the allocated capital in 2022 of the projects. The amount of capital allocated for tasks and projects must be consistent with the performance and disbursement capacity in 2023.

The programs and projects funded by ODA and concessional loans of foreign donors in 2023 must be in line with the contents stated in the agreements and commitments signed with the donors, the ability to balance reciprocal capital sources, the site clearance schedule as per the provisions of the Land Law, the capacity of the program or project investor, the project implementation progress and the order of priority.

Allocating capital for projects under the agreement ended in 2023, which are unable to be extended the agreement, transited and completed in 2023; allocating capital for transitional projects under the approved schedule; allocating capital for new projects that were signed the agreement and likely to be disbursed in 2023.

Reviewing and cutting capital plans for slow projects

The Deputy Prime Minister requested ministries, sectors and localities to effectively regulate capital between tasks and projects using capital from the medium-term public investment plan for 2021-2025 and those using capital from the socio-economic development and recovery program during the implementation of the state budget investment plan in 2023, ensuring the disbursement as per the provisions of Resolution No. 43/2022/QH15 of the National Assembly.

Review and reduce capital plans of slow projects to supplement capital for projects that are able to be disbursed and need additional capital, in which priority is given to allocating capital for key projects, projects linking regions, promoting growth, and disburse all assigned capital plans; send the decision on capital adjustment between projects to Ministry of Planning and Investment and the Ministry of Finance to monitor and control the disbursement.

Ministries, sectors and localities must uphold public investment discipline and strictly handle violations that make the delaying in capital allocation and disbursement; individualize the responsibility of the head in case of slow disbursement, attaching the disbursement results with the assessment of the level of completion of the assigned tasks.

The disbursement rate of ministries, central agencies and localities by the end of the fiscal year 2023 does not reach at least 90% of the plan, which is one of the criteria to assess the performance of officers and those who have fulfilled the task for two consecutive years, may be considered for dismissal under provisions of Decision No. 41-QD/TW dated November 3, 2021 of the Central executive committee.

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