As of February 28, total disbursed capital reached 55.74 trillion VND, equivalent to 5.6% of the plan assigned by the Prime Minister. Of the figure, disbursement of the central budget was estimated at 10.18 trillion VND, or 2.9% of the plan, while that of local budgets totalled 45.56 trillion VND, reaching 7% of the target.
With transport links running smoothly, urban infrastructure upgraded and digital platforms built out in a more systematic way, tourism would move beyond a purely consumption-driven sector to become a deeper, more durable engine of growth.
The Prime Minister underlined that public investment has consistently been identified as a key political task, with public investment disbursement results serving as one of the criteria for evaluating officials under Party regulations. Through state spending, public investment directly boosts aggregate demand and serves as an effective tool for regulating and stabilising the macroeconomy while safeguarding major economic balances.
Last year, central budget funds were prioritised for nationally significant projects, expressways, inter-regional links and other key infrastructure works, thereby creating new growth drivers, expanding development space and strengthening national competitiveness.
The surge in budget collection stemmed from a stable macroeconomic foundation and positive growth momentum.
The PM commended 12 ministries and central agencies and 20 localities for above-average performance, while criticising 22 ministries, sectors and central agencies as well as 12 localities for lagging behind.
The ministry emphasised the need to pinpoint projects with strong disbursement potential to prioritise funding, while firmly shifting capital away from sluggish projects or those unable to complete procedures on time.
The Government leader praised eight ministries and ministerial-level agencies, and 22 localities for outperforming the national average. Meanwhile, he criticised 18 ministries and central agencies, and 29 provinces for failing to allocate detailed plans for the capital already assigned, and another 29 ministries and central agencies and 12 provinces for disbursement rates below the national average. PM Chinh ordered strict review of collective and individual responsibilities and urged remedial measures.
Public investment should serve as a key driver of growth, acting as seed capital to catalyse and mobilise all social resources, thereby fostering economic expansion, creating jobs and livelihoods, and improving the material and spiritual well-being of the people, PM Pham Minh Chinh stated.
Chairing the September 10 meeting of Working Group No. 8, which monitors, addresses bottlenecks, and promotes public investment disbursement for six ministries and central agencies, Deputy PM Mai Van Chinh pointed out that their disbursement progress in August remained significantly lower than the average of other ministries, central agencies, and the nation as a whole.
The Ministry of Finance aims to reach a public investment disbursement rate of 60% by the end of the third quarter and 100% by the year's end.
The programme to eliminate temporary and dilapidated houses has achieved notable results, with nearly 263,000 housing units addressed to date, including 225,000 houses inaugurated and 38,000 under construction. Thirty-eight provinces and cities across the nation have already fulfilled their targets.
The Chairman stressed the need for stricter fiscal discipline, faster digital transformation, and more efficient management of State budget revenues and expenditures.
The Ministry of Transport aims to disburse at least 95% of the public investment capital allocated by the Prime Minister.
Prime Minister Pham Minh Chinh stressed that the country must pursue rapid but sustainable development, maintain high and continuous growth, uphold macroeconomic stability, control inflation, ensure major balances, and guarantee social welfare, as well as a sustainable, green, clean, and beautiful environment.
Public investment disbursement was estimated at 355.61 trillion VND (14 billion USD) in the first 10 months of this year, fulfilling 52.2% of the annual target, according to the Ministry of Finance (MoF).
The budget revenue of the northern port city of Hai Phong totaled nearly 96.2 trillion VND (3.8 billion USD) in the first 10 months of 2024, up over 29% year-on-year, equivalent to more than 90% of the target set by the municipal People's Council.
Hanoi is currently in a crucial phase of public investment disbursement, striving to maximise funding allocation so as to improve the efficiency of capital utilisation, accelerate the development of infrastructure, and enhance the capital city's competitiveness.
Vietnam is speeding up public investment disbursement to push growth, after going through difficult times due to the severe economic impact of Typhoon Yagi.
Prime Minister Pham Minh Chinh signed an official dispatch on October 8, calling for accelerated public investment disbursement in the remaining months of 2024.