Nghe An State Treasury recovered 1,820 billion VND in advance

The State Treasury of Nghe An is currently strictly controlling 21,040 active accounts of 5,384 units opening transaction accounts at the State Treasury system with operating turnover in 2018 of VND 650,000 billion.

Through expenditure control, in addition to recovering the advance payment of VND 1,820 billion in 2018, Nghe An State Treasury also refused to pay for expenditures that violated the regime; in addition, it also administratively sanctioned 24 units violating the State Treasury sector with a fine of VND 8.5 million.

Transaction at Nghe An State Treasury. Photo courtesy

The reason for the large advance payments is explained by the provincial Treasury as the previous mechanism for advance payments under contracts did not stipulate advance payment guarantees, and up to now there have been no specific sanctions for investors to require contractors to pay advance payments.

Many projects in Tuong Duong, Ky Son, Quy Chau, Que Phong districts... are affected by weather, storms, flash floods, etc., so construction progress is slow, there are problems in compensation and completion of procedures.

However, according to the reporting unit, the capital recovery work is currently underway because the settled value is smaller than the amount paid. Up to now, there are still 629 projects with a receivable amount of 24.8 billion VND.