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HCM City speeds up disbursement of public capital

Ho Chi Minh City is taking drastic measures to promote disbursement of public funds, which plays an important role in economic development amidst the COVID-19 pandemic.
HCM City speeds up disbursement of public capital ảnh 1Ho Chi Minh City is taking drastic measures to promote disbursement of public funds. (Photo: VNA)

HCM City (VNA) – Ho Chi Minh City is taking drastic measures topromote disbursement of public funds, which plays an important role in economicdevelopment amidst the COVID-19 pandemic.

According to the municipal People’s Committee, nearly 32 trillion VND (1.38billion USD) was disbursed as of December 31, 2020, some 27.3 trillion VND ofwhich came from the city’s budget (accounting for 74.1 percent of the assignedplan) and the remainder from the state budget (equivalent to 57.2 percent ofthe plan).

Director of the municipal Department of Planning and Investment Le Thi HuynhMai said the results did not live up to expectations of the Government and thecity leaders, pointing out tardy disbursement of the Official DevelopmentAssistance (ODA) capital affected the city’s outcomes.

Since the state budget year 2020 will end on January 31, 2021, the departmentwill ask investors to speed up the work, striving for the disbursement rate of95 percent for the whole year, she said.

The city plans to disburse more than 35.8 trillion VND for nearly 3,500projects this year.

In a bid to realise the target, Mai said, the city will abide by legalregulations, particularly the Law on Bidding, and work to ensure the bestcontractors are chosen to develop local projects.

Along with sharpening focus on making compensation, and giving resettlementsupport to those who have to relocate, the city will step up examination andsupervision in the public investment field so as to assure effective use ofpublic funds.

Mai said her department will continue to make monthly and quarterly evaluationof the disbursement situation of agencies and investors, and give out timelymeasures to improve efficiency of state budget use./.
VNA
#Ho Chi Minh City #disbursement #public funds #Official Development Assistance #compensation #state budget use #Vietnam News Agency #Vietnamplus Ho Chi Minh City
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