Doing well in final settlement appraisal contributes to pushing Nghe An's public investment disbursement progress to the top

That achievement is partly due to the capital allocation and appraisal of completed capital settlement by the Department of Finance.

2020 is the final year of implementing the medium-term public investment plan for the period 2016-2020, performing the task of advising on the field of investment finance management in the context of natural disasters, epidemics, especially the complicated developments of the Covid-19 epidemic, causing many difficulties and challenges, the Department of Finance directs the management of investment capital allocation, appraisal of investment incentive support, appraisal of contractor selection plans, appraisal of completed project settlement, consulting on policies and other tasks that must be suitable to the new situation and completed in the best way.

To ensure the disbursement progress of projects assigned with capital plans, the Investment Finance Department has promptly entered the assigned budget estimates through the Tabmis system. As of November 31, 2020, the total public investment capital plan for 2020 has been allocated in detail at VND 6,857,733 billion.

Staff of the Investment Finance Department appraise the year-end settlement. Photo: PV

Total capital plan entered through the Tabmis system: 6,503.9 billion VND. Nghe An has disbursed 5,242.2 billion VND in the first 11 months of 2020 (reaching 76.8%); estimated 12 months of 2020: 6,592.074 billion VND, reaching (90%). This is the highest disbursement rate ever in Nghe An.

In general, in 2020, the Investment Finance Department coordinated well with the Department's specialized departments to promptly advise on detailed capital allocation to each project, ensuring close progress and disbursement needs of the project and promptly entering the budget into the Tabmis system to have a basis for disbursement.

To do well the import workTabmis,The department has advised the Board of Directors of the Department to closely coordinate with the Department of Planning and Investment and the State Treasury to regularly update the detailed disbursement status for each project, thereby grasping the existing problems, obstacles and difficulties in capital disbursement and advising competent authorities on solutions to speed up capital disbursement such as: Focusing capital on projects with good disbursement progress, priority projects that need to be completed soon to put into use and projects that are about to be completed, or about to expire the disbursement period, and at the same time advising on adjusting the recovery of projects that are slow to be implemented and cannot be disbursed to be transferred to other projects.

According to the synthesis results as of October 31, 2020, 18/21 units have a ratio ofdisbursementover 60%; 3/21 units have disbursement rate under 60%. Of which: There are 8 units with disbursement rate over 80%, including: Cua Lo Town (90.3%), Tan Ky (89.95%), Dien Chau (87.2%), Anh Son (84.25%), Quy Hop (81.8%), Thanh Chuong (81.69%), Con Cuong (81.11%) and Yen Thanh (80.64%).

There are 10 units with disbursement rates from 60% to 80% including: Thai Hoa (79.96%), Do Luong (76.41%), Tuong Duong (71.3%), Nghia Dan (71.2%), Quy Chau (68.73%), Quynh Luu (68.26%), Nam Dan (66.91%), Que Phong (63.82%), Nghi Loc (63.4%) and Ky Son (63.2%).

Assessing the quality of construction at the coastal road construction site at the end of the year. Photo: Tran Chau

Regarding the settlement of completed projects, the Department of Finance has settled 268 projects, the total proposed settlement value is 2,577.9 billion VND, the total settled value is 2,547 billion VND, a decrease of 30 billion VND compared to the original, the reduction rate after verification has increased. The verification and settlement work is ensured to comply with the provisions of Circular No. 10/TT-BTC dated February 20, 2020 of the Ministry of Finance regulating the settlement of completed projects using State budget capital. The basic verification time is shortened, creating conditions for investors and contractors to speed up disbursement.

Based on the report of the State Treasury on the list of projects whose contracts have expired but have not yet received a decision approving the final settlement, the Department of Finance and Investment advised the Board of Directors of the Department to issue Official Dispatch No. 915/STC-TCDT dated March 31, 2020 requesting investors and project management boards to review and report on the list provided by the State Treasury. Through the review results, the number of backlogged projects and the causes of backlogged projects can be determined, thereby proposing solutions to speed up the work.final settlement of project capital, especially projects with long backlogs.

However, there are still a number of projects that are slow in submitting their documents to competent authorities for review and approval of final settlements according to regulations, mainly large projects with long and complicated construction periods. The number of projects with outstanding final settlements is still large, especially projects under the authority of district and commune levels to approve final settlements.

2021, the first year of implementing the public investment plan, is very important for the implementation of the 5-year public investment plan for the period 2021 - 2025, and is also the first year of implementing the Provincial Party Resolution for the period 2021 - 2025. In the context of complicated natural disasters and epidemics, especially the Covid-19 pandemic that may last longer, the economy still has many uncertain and unpredictable factors. To maintain macroeconomic stability and control inflation.

Striving to achieve the highest targets of the 2021 socio-economic development plan, Nghe An Department of Finance closely follows the leadership and direction of superiors, proactively promotes the role of state management, timely and properly advises on the specialized fields of the department on investment capital allocation management, appraisal of investment incentive support, appraisal of contractor selection plans, and audit of completed project settlement. Proactively and promptly enter the 2021 capital source estimate through the Tabmis system to ensure the progress and disbursement needs of the project when the competent authority allocates resources at level 0 estimate.

Closing of Cua Hoi Bridge. Photo courtesy of Thanh Duy

Closely coordinate with the Department of Planning and Investment and the State Treasury to regularly update the detailed disbursement status of each project, thereby grasping the existing problems and difficulties in capital disbursement and promptly advising competent authorities on solutions such as: Focusing capital on projects with good disbursement progress, priority projects that need to be completed soon to put into use and projects that are about to be completed, or projects that are about to expire, and at the same time advising on adjusting the recovery of projects that are slow to be implemented and not feasible in disbursement.

Strengthen guidance, inspection, and urging investors and project management boards to speed up the examination and approval of project settlements completed according to regulations, especially capital sources decentralized to district management levels and backlogged projects with slow settlement approval./.