Promote capital settlement in the field of basic construction investment

(Baonghean.vn) - TContinuing the program of supervising the investment in basic construction according to the Resolution of the Provincial People's Council, on the afternoon of October 20, the Standing Committee of the Provincial People's Council chaired by Comrade Nguyen Xuan Son - Member of the Provincial Party Committee Standing Committee, Vice Chairman of the People's Council had a working session with the Department of Finance. Comrade Hoang Viet Duong - Member of the Provincial Party Committee, Director of the Department of Finance, together with the Board of Directors and relevant departments of the Department worked with the delegation.

Overview of the work

Comrade Nguyen Xuan Son chaired the meeting.

According to the report from the Department of Finance, every year, the Department has coordinated with the Department of Planning and Investment to allocate expenditure estimates, investment portfolios, and examine capital for basic construction investment; organize inspection teams, and urge the management of investment finance and the settlement of completed projects using State capital. With the main task of settling capital for basic construction investment, from 2012 to the first 9 months of 2014, the Department of Finance has inspected, appraised, and approved the settlement of 1,001 investment projects, with a total approved estimate of more than 11 trillion VND. The total investment cost proposed for settlement is more than 5.6 trillion VND, while the investment cost after verification and approval of settlement has decreased to only more than 5.4 trillion VND.

The reason for the decrease is that the investment volume is not really accurate; due to changes in policy mechanisms and construction unit prices.... Although the results of the appraisal and approval of the final settlement of completed projects in the first 9 months of 2014 are higher than in 2012 and 2013, the number of completed projects that have not yet made final settlement is still large, with 1,626 projects (624 projects have submitted final settlement documents to competent authorities; 1,002 projects have not yet prepared final settlement documents to submit to competent authorities). In addition, there are projects that are currently lost or do not have sufficient final settlement documents as prescribed; there are projects where contractors do not coordinate with investors to prepare final settlement reports; some investors and project management boards have not done a good job of reviewing, urging, and requesting construction contractors and consultants to coordinate in preparing final settlement reports.

Comrade Hoang Viet Duong - Director of the Department of Finance clarified some issues of concern to the monitoring delegation.

At the meeting, the leaders of the Department of Finance clarified a number of issues that the members of the monitoring delegation were concerned about, such as solutions to the lack of capital in basic construction; meeting capital sources for site clearance; counterpart funds for works and projects supported by the Central Government and foreign non-governmental organizations; measures to speed up the progress of settlement of basic construction investment, and at the same time have sanctions to handle investors and contractors who are slow in completing settlement procedures after completion...

Concluding the meeting, Comrade Nguyen Xuan Son highly appreciated the implementation of solutions to accelerate the settlement of basic construction investment of the Department of Finance in the past time. Comrade Nguyen Xuan Son suggested that the Department of Finance continue to prioritize the number 1 task of settling completed works and projects; at the same time, study the allocation of excess budget revenue for basic construction investment to ensure suitability; have solutions to mobilize capital sources to repay debts; prioritize the allocation of resources for site clearance of works and projects; focus on clarifying the capital sources and the proportion of capital sources for newly allocated investment works....

News and photos:Minh Chi