It can be said that Vietnam’s economy has never been as tragic as it is now. Almost all macro policies issued by Prime Minister Pham Minh Chinh have been blocked. Last year, public investment disbursement was very stuck, which was one of the reasons why the economy could not recover after the Covid epidemic. This situation continues until this year, even worse.
In previous years, the delay in disbursement of public investment capital was mainly due to cumbersome procedures and overlapping laws, causing businesses to have to find ways to get through too many narrow gaps. And of course, to complete the application for disbursement, the beneficiary often has to bribe the approval units. That is an unwritten law that has existed since the “renovation” days until now. It is also the main reason why the quality of public projects is poor, and investment costs are unusually high.
If in the past, public investment capital was blocked by a layer of filtering that prevented disbursement, now, there is a new layer – which is the fear of officials and staff of units related to capital sources – from the funding units to the receiving units, all are very afraid of risks. The safe solution for them is to “delay work secretly” by making all kinds of excuses to prolong the time and not touch it.
Last month, General Director of Khatoco Khanh Hoa – Phan Quang Huy, left a suicide note for his wife and children, which read:
“To wife and two children
Dad’s work is not only too much but also not progressing. Due to the current mechanism, I have been under a lot of pressure for a long time. Recently, there was news about the review of Bao Dai luxury resort. Not only that, the Khatoco Hotel – Commercial building at 7-9 Villa Street, the Tropicana Commercial-Hotel-Apartment complex project is also subject to review, and before and after, the State authorities also conduct investigations into these projects.
These are projects that our Corporation entered into joint ventures and partnerships with partners to implement more than ten years ago. I committed not to accept any money, however, it is certain that I inevitably made mistakes in the process of valuing assets and contributing investment capital, due to the thinking and process of more than ten years. before is completely different from the current regulations of the present time.”
That is a common concern of the heads of investment units and users of budget capital. Currently, those who manage public projects, using budget capital, are always filled with fear. The police can burst into their house, handcuff them and take them away at any time. That’s why many people have used all sorts of excuses to delay and prevent capital from flowing through. Because once the capital is cleared, there will be mistakes, because if you don’t make mistakes, where will the money come from to lubricate the whole system?
Currently, the police jumping into businesses and searching for records of public projects happens everywhere. Previously, General Secretary Nguyen Phu Trong also allowed this to be done, but only using the Central Committee’s Inspection Commission, or the Anti-Corruption and Negative Committee headed by him. Only projects he feels need to be checked then he asked To Lam to jump into. The Central Committee’s Inspection Commission and the Anti-Corruption Committee, although they have great power, are thinly staffed and have weak expertise, so they are just like a thin net and let through many “fish.” This time, To Lam took action with a professional police force, covering every corner, from central to local levels. Therefore, it is very difficult to escape To Lam’s hands.
Every punch of To Lam is a very strong blow to the macro policies implemented by PM Chinh. General Lam continued to attack in the name of the party chief’s “furnace” while Chinh could only bear it. As a result, the economy was devastated, and the government leader has to take responsibility before the Politburo while Lam is recognized for his anti-corruption achievements.
From now until the end of the 13th party’s Central Committee term, Lam can just punch, and Chinh can only react, trying his best until the end of his term and then move on.
