Topic: public investment capital

Figure equal to 52% of the annual target.

Allocation expected to help projects be completed on schedule.

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

Total public investment capital for 2023 at nearly $248mln.

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.

With disbursement of public investment capital having reached only 39.15 per cent of the plan assigned by the Prime Minister in the first eight months of the year, Deputy Prime Minister Le Minh Khai has signed Resolution No. 124/NQ-CP dated September 15 on key tasks and solutions to boost disbursement over the closing months of 2022.

According to the Ministry of Transport, the Public Investment Plan for the 2021-2025 period has nearly VND15 trillion ($635 million) for implementing transport infrastructure projects in north-central Thanh Hoa province.

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.