Tag: public investment capital

Disbursement estimated at 46.3% of the 2025 plan assigned by the PM as of the end of August.

The figure equal to 46.3% of the PM's target.

The figure accounting for 22.2% of the yearly target.

Accelerated progress in public infrastructure development has attracted social investment resources, boosting the city's socio-economic development.

The disbursement accounting for just 9.53% of the annual target as of March 31.

The figure equivalent to 39.06% of the annual target.

North-central province has disbursed 61.5% of its annual target so far this year.

$475 million disbursed in northern port city in the first ten months of 2023.

Allocation expected to help projects be completed on schedule.

More than $3.3bln of public investment capital still to be allocated.

The Ho Chi Minh City People’s Council on October 11 approved ten important resolutions to promote the city’s socio-economic development in 2022 and the 2021-2025 period, including a resolution on adjusting public investment capital in 2022. This would increase public investment by VND415 billion ($17.42 million) this year and cut VND486 billion ($20.4 million) from ODA loans for the city’s Green Traffic Development Project.

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.

Chairman of the Ho Chi Minh City People’s Committee Phan Van Mai told a regular meeting that the city will exceed its annual growth target of 6-6.5 per cent. He proposed speeding up the disbursement of public investment capital, which is still quite slow, so that it reaches 22.3 per cent of the assigned plan.

A series of problems are holding back the disbursement of public investment capital in the provinces of Working Group No. 6. Minister of Finance Ho Duc Phoc has expressed concern that it may be difficult to meet the targeted VND500 trillion ($21 billion) in disbursement this year.

The disbursement of public investment capital in Ho Chi Minh City has been very slow. As of August 12, just 29 per cent of the annual plan had been disbursed. Chairman of the city’s People’s Committee Phan Van Mai listed seven solutions in regard to using State budget capital and accessing socialization in the field of infrastructure construction.

Deputy Prime Ministers Pham Binh Minh, Le Minh Khai, Vu Duc Dam, and Le Van Thanh, Minister of Planning and Investment Nguyen Chi Dung, and Minister of Finance Ho Duc Phoc will lead six working groups on the disbursement of public investment capital that Prime Minister Pham Minh Chinh established on May 2. The working groups are tasked with conducting inspections, removing difficulties and obstacles, and accelerating disbursement this year, especially in projects using ODA capital and concessional loans from foreign donors through ministries and central and local agencies.

According to the Ministry of Finance (MoF), the disbursement of public investment as of the end of April was still low, reaching just 18.5 per cent of the annual plan. Total undisbursed capital is more than VND40.2 trillion ($1.74 billion) and there are currently 17 ministries that have not distributed capital as yet. Economists therefore suggest that in addition to minimizing procedures, it is also necessary to have a specific mechanism for the private sector in order to promote public investment capital.

As of February, the Ministry of Transport (MoT) had disbursed VND2.3 trillion ($100.53 million) in public investment capital this year, focusing on expressway projects, urgent railway and road projects, and other key projects. It will disburse VND3.5 trillion ($152.98 million) in March.

The Prime Minister has signed Official Dispatch No. 126/CD-TTg urging the effective implementation of the socio-economic recovery and development program promulgated earlier in Resolution No. 11/NQ-CP from the government, which requires that the disbursement of public investment capital be sped up.