The Ministry of Finance (MoF) has asked ministries, agencies, and localities to urgently take measures to speed up investment procedures and approve investment projects to allocate all public investment capital in 2023 assigned by the Prime Minister.

They must carefully review disbursement in each project, particularly those with low disbursement.

Investment in projects that is unable to be disbursed will be transferred to others with a high possibility of disbursement or those that lack capital, the MoF has said.

The ministry also asked them to enhance inspections and supervision to urge investors and project management boards to disburse capital and adopt measures to tackle difficulties and obstacles in implementation and disbursement.

As of the end of March, 49 of 52 ministries and centrally-run agencies and 24 of 63 cities and provinces reported public investment disbursement rates of less than 9 per cent.

Total capital earmarked for public investment this year is over VND756 trillion ($32 billion).