The dispatch highlighted that the detailed allocation of the capital accounted for only 96.07% of the Government leader’s assigned target as of January 23, with some 84.84 trillion VND (3.32 billion USD) remaining unallocated across 26 central agencies and 48 localities.
The northern port city of Hai Phong disbursed about 13.5 trillion VND (531.6 million USD) of public investment capital in the first 11 months of this year, equal to 79.2% of the annual plan assigned by the Prime Minister and 64.2% of its own target, according to the Ministry of Finance.
Disbursement of foreign investment reached about 19.58 billion USD in the first 10 months of this year, up nine% year-on-year, a report from the Ministry of Planning and Investment's Foreign Investment Agency (FIA) has shown.
Thai Prime Minister Paetongtarn Shinawatra has asked government agencies to expedite the investment budget for fiscal year 2025 to stimulate the economy.
Provinces, ministries and government agencies had allocated 664.9 trillion VND (26.7 billion USD) for public investment as of the end of September, showed data from the Ministry of Finance (MoF).
As of early October, the southern province of Tien Giang had disbursed almost 3.8 trillion VND (over 153 million USD) in public investment, accounting for 76.3% of this year's target – about 4.97 trillion VND, reported the provincial Department of Planning and Investment.
The Ministry of Transport plans to disburse 75.824 trillion VND (3.03 billion USD) or 98.5% of the allocated public investment to the ministry this year, according to the Department of Planning and Investment's report.
The Ministry of Transport is keeping a close watch on monthly public investment disbursement progress and transferring capital from projects with slow disbursement to more capable ones.
Prime Minister Pham Minh Chinh has asked for breakthrough solutions to fulfil the target of 95% in the disbursement rate of public investment capital in 2024.
The Hanoi People’s Council has approved in principle investment policies and adjustments to investment policies for 26 projects using public investment capital.
Director of the Department of Planning and Investment of the northern province of Bac Giang Bui Thi Thu Thuy has affirmed that the locality will focus on removing obstacles to speed up disbursement and implementing public investment projects in the coming time.
The Thai cabinet’s economic ministers have adopted three short-term measures to drive the country’s growth rate to 3% this year, from 2.4% as originally projected by the Fiscal Policy Office, Deputy Prime Minister and Finance Minister Pichai Chunhavajira said on June 10.
The disbursement of public investment from the State budget in the first five months of this year was estimated to reach 190.6 trillion VND (7.44 billion USD), equal to 26.6% of the yearly target and 5% higher than the same period last year, according to the General Statistics Office (GSO).
More than 11.07 billion USD in foreign direct investment (FDI) was funneled into Vietnam during January-May, up 2% against the same time last year, according to the Ministry of Planning and Investment (MPI)’s Foreign Investment Agency.
The disbursement of public investment funded by foreign sources in localities is relatively low at present, requiring solutions to difficulties facing each project, an official of the Ministry of Finance (MoF) said on May 21.
