Investment

Ho Chi Minh City was among localities with the lowest level of public investment disbursement in the first nine months of 2022, reaching just 3.6 per cent. It has therefore proposed that the government soon set up a group to address the difficulties.

Through a review, the Ministry of Transport has reported that there are eight build-operate-transfer (BOT) projects that are inadequate and need to be reported to relevant authorities for consideration on their future. The ministry has therefore proposed that a solution to terminate contracts ahead of time and allocate State budget capital of about VND13.115 trillion ($552.527 million) to compensate investors and project developers be submitted to the National Assembly for consideration and approval. This would also remove obstacles for investors, thereby restoring their trust.

At the recent “Propaganda and promotion to support the development of trade in mountainous areas and islands in 2022” conference, Mr. Tran Duy Dong, Director of the Domestic Market Department at the Ministry of Industry and Trade, said the production potential of mountainous and remote areas and islands is significant because of their area and geographical location, with many products bestowed upon them by nature.

Hai Phong city has been assigned a public investment capital plan for 2022 of nearly VND13 trillion ($550.4 million) by the Prime Minister. It plans to disburse 70.2 per cent by the end of September, and has committed to disbursing 100 per cent by January 31, 2023.

According to the Ministry of Finance (MoF), the speed of public investment disbursement is accelerating, reaching 46.7 per cent of the plan by the end of September, or nearly VND253 trillion ($10.7 billion). However, 39 of 51 ministries and branches and 22 out of 63 cities and provinces have a disbursement rate at below the national average, of which 14 ministries and branches have disbursed less than 20 per cent of the plan.

On the morning of September 26, Prime Minister Pham Minh Chinh chaired a nationwide online conference on accelerating the disbursement of public investment capital and implementing three national target programs. He pointed out shortcomings and difficulties and at the same time encouraged disbursement.