Public Investment Gains Momentum Amid Ongoing Bottlenecks

To accelerate public investment disbursement, the specific tasks and solutions need to be implemented

Progress improves but bottlenecks remain

According to the Ministry of Finance, public investment disbursement from the beginning of the year through April 30, 2026 reached VND144,282.9 billion (about US$5.77 billion), equal to 14.2% of the plan assigned by the Prime Minister. Among them, 27 ministries and central agencies, along with 18 localities, recorded disbursement rates below the national average.

The total 2026 public investment plan funded by the state budget and assigned by the Prime Minister amounted to VND1,013,443.4 billion (about US$40.54 billion), including VND363,216.8 billion (about US$14.53 billion) from the central budget and VND650,226.6 billion (about US$26.01 billion) from local budgets.

The remaining unallocated capital under the Government’s authority totaled VND79,688.5 billion (about US$3.19 billion), including VND44,810.55 billion (about US$1.79 billion) to be allocated to new projects after investment efficiency assessments are completed and medium-term public investment plans for the 2026-2030 period are approved; VND25,000 billion (US$1 billion) expected for projects and tasks under national target programs; and VND9,877.96 billion (about US$395 million) expected for science and technology, innovation, and digital transformation projects based on proposals compiled by the Ministry of Science and Technology.

As of April 30, 2026, compared with the plan assigned by the Prime Minister, eight ministries and agencies and 16 localities recorded disbursement rates at or above the national average. These included the Vietnam Bank for Social Policies, the Vietnam Expressway Development Investment Corporation, the Ministry of Justice, the Ministry of National Defense, the Ministry of Industry and Trade, the Ministry of Agriculture and Environment, the Ministry of Foreign Affairs, the Ministry of Public Security, Hai Phong, Ha Noi, Lai Chau, Lang Son, Ca Mau, Thai Nguyen, Dien Bien, Quang Ninh, Ha Tinh, Son La, Tuyen Quang, Gia Lai, Lao Cai, Hue City, Phu Tho, and Khanh Hoa.

Meanwhile, 27 ministries and agencies and 18 localities remained below the national average. Several ministries and agencies recorded disbursement rates below 1% or had not yet disbursed any capital.

Disbursement progress in the first months of the year has shown positive signs, as public investment projects are considered a key political task and an important driver of double-digit economic growth.

However, several obstacles continue to slow disbursement progress. The biggest challenges involve site clearance, including land origin verification, pricing, and compensation plans, which have delayed construction work. Construction material shortages also continue, while raw material prices remain much higher than approved estimates, creating cost gaps that require contract adjustments.

In addition, according to the Ministry of Finance, planning has not always matched actual needs and implementation capacity, leading to project adjustments or proposals to return allocated capital, which has slowed implementation progress.

Another issue that cannot be resolved immediately is the limited capacity and accountability of some investors, project management boards, and contractors, who remain passive and lack decisiveness in organizing construction work. Some communes and wards also lack dedicated public investment staff, while existing personnel must handle several responsibilities at the same time.

Key task for achieving growth targets

At the National Conference on Accelerating the Allocation and Disbursement of Public Investment Capital in 2026, Prime Minister Le Minh Hung called for faster disbursement, describing it as a key task for achieving double-digit growth targets in 2026 and throughout the current term. He asked ministries, central agencies, and local authorities to proactively implement their plans, strengthen discipline in public investment management, strictly comply with reporting requirements, regularly review and update progress, and promptly address emerging difficulties and obstacles. Stronger accountability among agency leaders and the early assignment of officials to oversee each project have also helped improve implementation efficiency.

To accelerate public investment disbursement, ministries, central agencies, and local authorities need to focus on carrying out the specific tasks and solutions directed by the Prime Minister in Notice 213/TB-VPCP dated April 25, 2026. In particular, authorities must urgently complete the allocation of 2026 capital plans that have been assigned but not yet distributed in detail to specific projects and tasks. Any ministry, agency, or locality that fails to complete allocations by May 10, 2026 must submit a report explaining the reasons, causes, and responsibilities of relevant organizations and individuals to the Ministry of Finance before May 15, 2026 for consolidation and submission to competent authorities in accordance with regulations. Stronger leadership is also needed from heads of ministries and agencies, as well as local Party and government leaders, to promptly resolve issues within their authority or propose solutions to higher authorities.

Site clearance and construction materials have long been unresolved issues. Authorities therefore need to consistently follow the Prime Minister’s directives in Official Dispatch 25/CD-TTg dated March 21, 2026 and Official Dispatch 28/CD-TTg dated April 1, 2026 on managing, regulating, and controlling construction material prices, while also removing obstacles and accelerating site clearance, especially as military conflict in the Middle East continues. Planning for mining sites must be completed in the second quarter of 2026 to ensure an adequate supply of materials for investment projects.

Authorities must strictly address misconduct in public investment management while making full use of new decentralization regulations and simplified procedures to accelerate disbursement. Personnel management also requires close attention, along with tighter discipline and strict action against investors, project management boards, organizations, and individuals that deliberately create obstacles or fail to carry out their responsibilities. Measures are also needed to arrange and assign personnel capable of managing and implementing projects at the commune and ward levels, particularly in remote areas.