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Ministries pained by capital shortage
At the online conference on national project development held in Hanoi on March 4, many ministers warned about the lack of capital to which may delay the project execution.
According to Cao Duc Phat, Minister of Agriculture and Rural Development (MARD), in 2010 the ministry will be allocated 3,186 billion dong from the state budget and four trillion dong from its bond source.
The total estimated capital needed is much more, around 13,700 billion dong. As such, the capital allocated to the ministry makes up just 53 percent of the required amount.
Phat said that the ministry faces difficulties in mobilizing capital for urgent projects, including the anti-flood project in HCM City or others in promoting agriculture. He has requested the Government allocate more capital for the projects or offer a part of the capital for 2011 on account.
According to Minister of Transport (MOT) Ho Nghia Dung, in 2010, the disbursement of the official development assistance (ODA) is forecast to triple that of 2009, some 20,000 billion dong. Still, reciprocal capital for ODA projects has not yet been arranged.
Deputy Prime Minister Nguyen Thien Nhan, who is also Minister of Education and Training (MOET), said that in 2010, they planned to receive two trillion in capital to implement student dormitory construction plans. The ministry also hopes to fulfill 80 percent of its 2010 plan in the first six months of the year. The ministry expects a budget 1,500 billion dong for the program.
According to Vo Hong Phuc, Minister of Planning and Investment (MPI), the total capital to be mobilized from all sources of society in 2010 is 791,000 billion dong, an increase of 12.3 percent in comparison with 2009, or 41 percent of the GDP (Gross domestic product).
It is expected that investment capital from the state budget will account for 15.9 percent of the total investment capital in 2010, while capital sourced from government bonds account for 7.1 percent. Investment credit capital from the State will be some seven percent, while other sources make up 70 percent.
Therefore, Phuc suggests that ministries should consider many different types of capital mobilization to obtain optimal benefits. Project investors can also use new investment modes, such as BOT (Build – operation – transfer) and BT (Build – transfer), PPP (Public – private partnership) to speed up the execution of projects.
VietNamNet, DT
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