Disbursed investment in August from the State budget managed by Hanoi reached VND4.188 trillion ($178 million), up 2.2-fold year-on-year. Investors and construction units have focused their resources on speeding up construction progress at key projects to boost disbursement and create a driver for the capital’s development.
With its recovery in production and business, northern Vinh Phuc province’s gross regional domestic product (GRDP) increased 10.1 per cent year-on-year in the first half, putting it in the Top 10 nationwide in terms of growth. The province was also among the leaders in FDI attraction, with ten projects and total investment capital of more than $225 million in the period.
According to the Ministry of Finance (MoF), the disbursement of investment capital in the first half of 2022 reached 27.75 per cent of the plan. More than VND58 trillion ($2.49 billion), or 10.78 per cent of the plan, has not been allocated by some ministries, central agencies, and localities. The Ministry has proposed cutting unallocated expenditure to supplement the implementation of the Economic Development and Recovery Program.
Two component projects of the North-South Expressway in the first phase, totaling nearly 130 km from Chi Thanh to Van Phong and Van Phong to Nha Trang in south-central Phu Yen and Khanh Hoa provinces and with total investment of more than VND23.5 trillion ($1.02 billion), have been submitted to the Ministry of Transport (MoT) for appraisal.
The No Va Real Estate Investment Group Joint Stock Company (Novaland), a member of the NovaGroup, has received a $250 million investment from Warburg Pincus. Warburg Pincus is the largest and most active private equity fund in Vietnam, with total disbursed and committed capital of more than $1.5 billion since 2013.