Recently, the Điện Biên provincial People’s Committee has directed departments, sectors, localities, and project investors to strictly comply with regulations on final settlement. At the same time, the province has introduced multiple solutions to ensure that the final settlement of projects using public investment funds is conducted in a rigorous and transparent manner.

By the end of 2024, the entire province had 385 completed projects, including both carried-over projects from previous years and newly completed projects. Of these, 233 projects had their final settlements approved, 42 projects had submitted their dossiers but were still awaiting approval, and 110 projects had yet to submit their final settlement dossiers.

In 2024 alone, the province reviewed and approved the final settlement for 226 projects, accounting for 82.2% of the projects that had submitted reports to financial agencies. Completed projects were put into operation on schedule and in compliance with current legal regulations, enhancing the effectiveness of state budget investment capital management and utilization.

However, 110 completed projects (accounting for 28.6% of total projects) have yet to have their final settlement reports prepared and submitted by the investors. While most of these projects are still within the legal settlement timeframe, delays in submission can lead to backlogs, misplacement of records, and complications in public investment capital management. Additionally, prolonged settlement delays may result in issues such as outstanding construction debts, inability to close project accounts, delayed accounting of asset increases, and difficulties in post-investment asset management.

The delays stem from several factors. Some project owners and management units have not given sufficient attention to preparing and submitting final settlement reports. Notably, projects with submission delays exceeding 24 months often have prolonged implementation periods and undergo multiple organizational changes. Poor record-keeping further complicates the process, leading to misplaced documents and difficulties in report preparation and submission.

Moreover, coordination between certain project owners and financial agencies remains inadequate, prolonging the process of completing, reviewing, and approving final settlement documents. For long-duration projects, policy and price fluctuations have affected the legal validity of project records. Some projects required adjustments in design, route alignment, or land clearance, while others faced land-use conversion issues or were impacted by changes in construction cost norms. These factors necessitated multiple revisions to cost estimates, project scale, and technical designs, causing delays in implementation and final settlement completion.

Another challenge is the lack of clear regulations and guidelines regarding the final settlement of maintenance and repair costs for public assets. For instance, Circular No.65/2021/TT-BTC, issued on July 29, 2021, only regulates annual budget settlements and does not address the final settlement of completed projects using state budget funds. This has created difficulties in managing public construction investment costs under the Construction Law. Furthermore, the Ministry of Finance has yet to issue a guiding circular on the final settlement of projects using non-business funding with an investment estimate of VND 500 million or more, causing difficulties for local authorities in settling completed projects.

To address delays in the submission of final settlement dossiers for completed projects using state budget funds, especially those delayed for over 24 months, the provincial People’s Committee has instructed relevant departments, sectors, localities, and project owners to implement coordinated solutions, ensuring the settlement process adheres to regulations.

Leaders of departments, sectors, and localities must enhance their oversight, directing subordinate units and project owners to comprehensively review and assess the status of preparing, submitting, verifying, and approving final settlements. The process must strictly follow legal procedures, document requirements, and timelines as stipulated in Government Decree No.99/2021/NĐ-CP, dated November 11, 2021. The provincial Department of Finance, State Treasury, and related agencies must closely monitor the verification and approval of final settlements, ensuring timely completion. Additionally, they must compile and report cases of delayed final settlement submissions to higher authorities for resolution.

Project owners must strengthen their oversight of consulting units and construction contractors to ensure compliance with acceptance, payment, and final settlement documentation regulations. They should also expedite the completion of settlement dossiers, fund disbursement, and investment capital payments, particularly for projects with allocated funds or extended budgets from previous years. For completed projects that have yet to receive final settlement approval, especially those with delays exceeding 24 months - project owners must urgently review, prepare, and submit settlement reports to financial agencies within the required timeframe to prevent prolonged delays that could impact financial and public investment management.