Ho Chi Minh City disbursed over VND25.2 trillion ($1.05 billion) in public investment capital in the first eight months of this year, equal to 29 per cent of the assigned target, according to the municipal People’s Committee, 52 per cent on the annual target, and a year-on-year increase of 52.1 per cent.

The southern city was allocated VND70.518 trillion ($2.93 billion) of public investment capital this year, double the figure in 2022.

To reach disbursement targets, the city has worked to tackle difficulties in the process and boost private investment for the economy. Since early in the second quarter of this year, it has set up 13 working groups to supervise the implementation of 38 major projects that account for 70 per cent of the total investment capital allocated for this year.

Local authorities also set up task forces to supervise the implementation of public investment in the 2021-2025 period and directly work with investors to deal with their difficulties.

The city has targeted disbursing 58 per cent and 91 per cent of public investment capital by the end of the third and fourth quarters, respectively.