Prime Minister Pham Minh Chinh has issued a directive setting out tasks and solutions for relevant ministries, agencies, and localities to speed up the allocation and disbursement of public investment capital.

He asked the ministries, agencies, and localities to fulfil the target of disbursing over 95 per cent of the VND711 trillion ($30.1 billion) in public investment capital allocated for this year.

They are to put disbursement plans in place for every project, review them, and address any issues.

The Ministry of Planning and Investment (MPI) is responsible for directing ministries and localities to carry out mid-term assessments in April of the implementation of the medium-term public investment plan for the 2021-2025 period.

MPI needs to work with the Ministry of Finance to flexibly regulate capital allocation from the socio-economic recovery program and the medium-term public investment plan for the 2021-2025 period, to ensure that public capital planned for 2023 is fully disbursed.

Regarding the socio-economic recovery program, the State Bank of Vietnam (SBV) has prime responsibility to promptly draft a decree amending and supplementing Decree No. 31/2022/ND-CP in interest rate support, for submission to the government before March 25.