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Raising the responsibilities of investors of public investment projects.

In 2022, the results of disbursement of public investment capital from the provincial budget according to the investor showed that there were 18/35 units having the disbursement rate of capital below 50% of the assigned plan. One of the reasons for the low disbursement rate of public investment capital came from the limited capacity of some investors which greatly affected the disbursement progress.

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Construction of Dong Nai Riverside road (section from Hoa An bridge to Vinh Cuu District boundary), one of the key projects of Bien Hoa city.

Many investors have limited capacity

According to the Department of Planning and Investment, in 2022, the total public investment capital in the province was more than 13.6 trillion VND. By the end of January 31, 2023, the total disbursed public investment capital in the province was more than 10.1 thousand billion VND, reaching 74% of the plan. However, if including the capital source awarded by the Central Government to exceed revenue in 2021 by 1 trillion dong, the disbursement rate of public investment capital in 2022 would reach nearly 68% of the plan. This rate was quite far from the initial target of disbursing over 95% of total public investment capital.

Assessing the reasons for the low disbursement rate of public investment capital in 2022, Director of the Department of Planning and Investment Nguyen Huu Nguyen said that subjective reasons are the main reasons. Among the subjective reasons, there were causes from the limited capacity of the investors. In fact, this was a cause that has arisen for a long time, not only appearing in 2022.

Citing the evidence of the capacity limitation, Mr. Nguyen said that the preparation of project investment documents by the investors was currently very slow, leading to the capital arrangement being affected. Once the capital had been allocated, the approval of the contractor selection plan, the finalization of the bidding documents, and the organization of the bidding had not been achieved as scheduled, leading to the begining of construction, investment implementation, planning procedures to disburse capital were also affected.

 After signing the project construction contract, some investors have not drastically asked the contractors to make a specific implementation plan as a basis for timely monitoring and urging, speeding up the implementation progress and disbursement projects according to the assigned schedule. “This is the responsibility of the investors. Some investors commit to being fully qualified to act as investors for the project when registering capital in which there is the monitoring and supervision of contractors to comply with the approved plan. However, in the fact that some investors do not understand the public investment process, do not follow closely the urging of implementation according to the schedule as well as do not prepare documents for payment and settlement in time "- Mr. Nguyen Huu Nguyen said.

 For traffic projects, Director of the Department of Transport Le Quang Binh said that through monitoring, there were not almost projects reaching their destination on time. Therefore, according to Mr. Binh, the investors must determine the end date when the work started. "Currently we start the works, but the end date is unknown," said Mr. Le Quang Binh.

 Capital will be cut off for investors who do not meet targets

 According to Mr. Le Quang Binh, one of the solutions to speed up the disbursement of public investment capital is that the capacity of investors needs to be improved a step.

 For projects, it is necessary to have an overview when the investors coordinate with the consulting units to submit. Avoid the situation of having to stop to deal with problems in the implementation process that takes time. “The project completion time must be really scientific, ensuring the follow of the professional schedule. It is necessary to review all the progress of the projects to shorten the construction time because the works will soon be put into use and at the same time, there is a volume to be disbursed when the construction time is shortened" - Mr. Le Quang Binh suggested.

 Meanwhile, to carry out the task of disbursing public investment capital in 2023, the Department of Planning and Investment has also proposed a number of tasks to focus on implementing. In which, for investors, it is necessary to build a critical work path (time of project implementation), determine the schedule, route, and time for each specific job for each project to ensure disbursement of investment capital. Specifically, by September 30, 2023, at least 60% of the plan must be achieved and 95% of the plan for the whole year must be achieved. “If any investors or localities do not complete the disbursement and in the assessment of the critical path, the progress is slow due to subjective reasons, it is better to cut the capital and transfer it to the disbursing units. At the same time, the responsibility of the heads of the localities or the investors will be handled," said Mr. Nguyen Huu Nguyen.

 Director of the Construction Investment Project Management Board of the province Vo Hoang Phuong said that the ensuring the disbursement progress of public investment capital requires a great deal from the investors' forecasting and planning capacity. According to Mr. Phuong, most investors forecast on a very "smooth, no-problem" basis when forecasting for planning. But when coming to the appraisal step, the condition is not met and the application must be returned to be repeated, the process of repeating the dossier takes lots of time and affects the disbursement progress of capital. “A new adjustment file takes time as creating a new one. Therefore, the investors must forecast very detailed plans to do in the process of disbursing capital "- Mr. Vo Hoang Phuong stated.​​

Author: Phan Anh

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