Despite impacts caused by the COVID-19 pandemic, foreign direct investment (FDI) is still being poured into Vietnam, contributing importantly to turning the country into a new production hub of the world.
More than 110.6 trillion VND (4.7 billion USD) of public investment was disbursed in the first four months of this year, equivalent to 14.6% of the yearly target and lower than the 18.48% in the same period last year, according to the Ministry of Finance.
Deputy Prime Minister Tran Hong Ha has asked ministries and central agencies to work closely with localities to remove obstacles for particular projects, thus speeding up public investment disbursement.
Deputy Prime Minister Le Minh Khai has emphasised the need to clear all roadblocks and clarify the responsibilities of the persons concerned to accelerate public investment disbursement.
Prime Minister Pham Minh Chinh has requested ministries and sectors speed up administrative reform and disbursement of public investment, towards promoting economic activities to create jobs and livelihoods for people.
Prime Minister Pham Minh Chinh requested Ho Chi Minh City to make greater efforts to accelerate the disbursement of public investment while visiting and inspecting construction sites of several transport and health projects in the southern largest economic hub on April 15 afternoon.
Deputy Prime Minister Le Minh Khai on April 13 ordered tightening discipline in the disbursement of public investment capital, stating that it is the responsibility of ministries and agencies’ leaders.
A key measure to effective public investment disbursement is to promote investment with focuses, with priority given to regional linkage projects to create new socio-economic development spaces for localities, said Minister-Chairman of the Government Office Tran Van Son at a regular Cabinet press conference on March 3.
Prime Minister Pham Minh Chinh has requested ministries, sectors and localities to review legal procedures regarding the disbursement of public investment capital and propose solutions to deal with existing problems, while promptly allocating all the planned public investment capital sourced from the State budget for 2023.
Prime Minister Pham Minh Chinh on February 21 chaired a national teleconference on the acceleration of public investment allocation and disbursement in 2023 as well as the socio-economic recovery and development programme.
Thanks to the 700 trillion VND (29.7 billion USD) public investment disbursement plan in 2023, demand for construction rock for big public investment projects is expected to boost profits for the industry’s enterprises.
Hanoi and Ho Chi Minh City - the country's economic locomotives - recorded the highest disbursement of public investment capital in January, with nearly 2.7 trillion VND (117 million USD) and more than 1.63 trillion VND, respectively, reported the General Statistics Office.
Disbursement of foreign direct investment (FDI) in Vietnam in 2022 is estimated at nearly 22.4 billion USD, up 13.5% year-on-year, making it the highest amount in the past five years, the General Statistics Office (GSO) announced on December 29.
The disbursed public investment sourced from foreign borrowing was estimated at more than 9 trillion VND in the first 11 months of the year, equivalent to only 26% of the plan, said an official from the Ministry of Finance.
About 9 trillion VND (382 million USD) of public investment capital from foreign sources has been disbursed in the first 11 months this year, accounting for only 26% of the allocated capital.
Deputy Prime Minister Pham Binh Minh highlighted the need to tighten discipline in the disbursement of public investment while chairing a hybrid meeting on the matter with the No.1 Working Group on December 8.
The disbursement of foreign direct investment (FDI) in Vietnam went up 15.1% between January and November to some 19.6 billion USD, the highest 11-month figure over the past five years.
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