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.
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.
Ho Chi Minh City’s State budget collection has reached its target ahead of schedule, surpassing 392.7 trillion VND (17 billion USD) in the first ten months of this year, up 1.6% from the estimate and 22.3% year-on-year, reported the municipal Statistics Office.
A total of 285.4 trillion VND (12.18 billion USD) sourced from the State budget was disbursed in the first eight months of 2022, equal to 51% of the yearly plan and up 16.9% year-on-year.
The slow disbursement of foreign public investment in the first half of this year was mainly due to projects that can’t be completed, and these bottlenecks should be cut out of the master plan as they slow the release of funds.
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 the State budget was estimated at 46.3 trillion VND (2.02 billion USD) in the first two months of 2022, up 10.4 percent from the same period last year and completing 8.8 percent of the yearly target, according to the General Statistics Office (GSO).
Hanoi disbursed some 2.2 trillion VND (96.44 million USD) worth of investment sourced from the State budget in February, equivalent to 66.5 percent of last month’s figure, but an increase of 6.2 percent year-on-year, the municipal Statistics Office reported.
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).
Ho Chi Minh City disbursed 13.26 trillion VND (583.55 million USD) of public investment capital in the first eight months of this year, fulfilling only 37.1 percent of its target for the year and representing a drop of 27.4 percent over the same period last year, reported the city's Statistics Office.
The Minister of Transport recently requested the establishment of a special working group to boost the disbursement of public investment capital for projects in the transport sector.
The northern province of Quang Ninh disbursed more than 8.1 trillion VND (352.8 million USD) as of July 31, equivalent to 43.3 percent of the plan for the full year, according to the province’s Department of Planning and Investment (DPI).
The disbursement of public investment must be sped up in the second half of this year as an important solution to accelerate economic growth amid the COVID-19 pandemic, according to the Ministry of Planning and Investment.
The disbursement rate of public investment capital in 2021 is expected to reach between 95-100 percent of the plan assigned by the Prime Minister, according to the Ministry of Planning and Investment.
The Ministry of Agriculture and Rural Development (MARD) is likely to fulfil 11.4 percent of its yearly plan of public capital disbursement at the end of the first quarter of this year.
In 2021, the Ministry of Planning and Investment (MPI) will continue to proposing specific policies to remove difficulties and supporting COVID-19-hit businesses and people, according to Deputy Minister Tran Quoc Phuong.
The disbursement of public investment was estimated at 398 trillion VND (17.24 billion USD) as of the end of December, meeting 82.8 percent of the Government’s plan – the highest rate in the 2016-20 period, according to the Ministry of Planning and Investment.
The disbursement of public investment sourced from the State budget reached 354.6 trillion VND (nearly 15.3 billion USD) in the first ten months of this year, an increase of 34.4 percent compared to the same period last year, 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.
The disbursement of capital sourced from the central budget for public investment purposes had reached 29 percent of the annual plan as of September 30, according to Truong Hung Long, Director of the Department of Debt Management and External Finance at the Ministry of Finance.
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