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.
Public investment disbursement in the northern province of Quang Ninh reached 27 percent as of mid-June, much lower than the target, according to the provincial Department of Planning and Investment.
Disbursement of investment capital sourced from State budget was estimated at 48.5 trillion VND (2.13 billion USD) in November, up 14.7 percent over the previous month, according to the General Statistics Office (GSO).
Minister of Planning and Investment Nguyen Chi Dung has said heads of units must consider disbursement of public investment capital a key political task and its results as a basis to evaluate task fulfillment.
Ho Chi Minh City had disbursed nearly 21.28 trillion VND (920 million USD at current exchange rate) of public investment capital as of August 23, fulfilling 50.5 percent of the assigned capital this year, the city’s Department of Planning and Investment reported.
The disbursement of public investment capital should be one of the criteria to measure the performance of agencies, sectors and localities, Prime Minister Nguyen Xuan Phuc said in conclusion of the online conference between the Government and localities on July 2.
Sluggish disbursement of public investment capital will hamper the implementation of projects, and particularly, businesses that borrowed from banks will be seriously affected, a legislator has said.
Addressing the Government’s meeting on October 2, Prime Minister Nguyen Xuan Phuc requested ministries, sectors and localities to push ahead with stronger reforms to promote production and business activities amid several challenges to and problems of the economy.
Prime Minister Nguyen Xuan Phuc has ordered that more drastic solutions to be taken to speed up the disbursement of public investment capital, which he described as an urgent task from now through 2020.
Prime Minister Nguyen Xuan Phuc has demanded ministries, sectors and localities to take stronger actions to speed up the disbursement of the public investment capital plan for 2019, as the disbursement so far is at a critically low level.
About 745.4 trillion VND (32 billion USD) was collected for the State budget in the first half of 2019, equivalent to 52.8 percent of the year’s target and up 13.2 percent year on year, according to the Ministry of Finance (MoF).
Vice Chairman of the Ho Chi Minh City People’s Committee Tran Vinh Tuyen has asked local departments and districts to disburse all public investment capital from 2017 by the end of January 2018.
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