The Ministry of Finance (MoF) has proposed that the government and the Ministry of Planning and Investment (MPI) cut public investment capital allocated to projects with zero disbursement as of the end of October.

Figures from the MoF show that Vietnam disbursed over VND363.3 trillion ($15.1 billion) worth of public investment capital in the first nine months of this year, equivalent to 51.38 per cent of the annual target.

However, 29 ministries and three localities had disbursement rates of less than 10 per cent, affecting the efficiency of State budget use.

In particular, 109 projects in 41 localities had yet to disburse any funds due to implementation obstacles, especially in site clearance, according to the MoF.

In order to accelerate disbursement, the MoF also proposed that relevant ministries and agencies continue to adopt solutions to tackle the difficulties and promote project progress.