Ho Chi Minh City had disbursed more than VND8.2 trillion ($345 million) of public investment capital this year as of May 12, or 11.67 per cent of the total allocated by the Prime Minister, according to the municipal Department of Planning and Investment.

It said the increase in disbursement was attributed to site clearance and compensation for the construction of Ring Road No. 3, totaling over VND5.6 trillion ($236 million).

Ring Road No. 3 has a total length of 76.34 km, passing through Ho Chi Minh City and neighboring Dong Nai, Binh Duong, and Long An provinces.

The city has 134 infrastructure projects this year that need site clearance and compensation, with a total cost of over VND20.1 trillion ($848 million).

It targets increasing the disbursement rate of public investment capital to 58 per cent by the end of the third quarter and 91 per cent by the end of the year.