Ho Chi Minh City has set a target of disbursing 95 per cent of public investment capital allocated for this year.

The target is set within the city’s action plan to accelerate the disbursement of public investment capital in 2024, which was issued by Chairman of the municipal People’s Committee Phan Van Mai.

Disbursement is considered a key political task for the city this year and focus will be placed on key projects using State budget funds. The city will work to complete site clearance and compensation for these projects this year.

The city’s Department of Planning and Investment will coordinate with relevant agencies to flexibly allocate and adjust capital plans and reduce capital allocated to delayed projects while supplementing capital for projects that are being implemented on schedule.

The municipal Department of Natural Resources and Environment is responsible for coordinating with districts and communes to accelerate compensation and resettlement tasks and to complete site clearance for hand over to investors.

The action plan also sets a target of cutting appraisal and approval times for project investment policies, contractor selection, and design by at least 30 per cent, to prevent multiple appraisals that will affect projects disbursement and implementation.