Vietnamplus

Hanoi has disbursed a total of 28.1 trillion VND (1.15 billion USD) of investment capital sourced from the State budget in the first eight months of 2023.

Strong disbursement of public investment, especially from the second quarter of this year, has helped increase demands and promote growth of economic sectors.

The Government will not change the growth target of 6.5% for 2023 and strive to reach an economic expansion of about 9% in the rest of the year, stated Prime Minister Pham Minh Chinh at a cabinet meeting in Hanoi on August 5.

The capital city of Hanoi attracted nearly 2.3 billion USD of foreign direct investment (FDI) in the first seven months of this year, with 233 new projects worth 97.5 million USD and 108 projects permitted to increase investment capital by 193.5 million USD.

The central province of Nghe An attracted 725.4 million USD worth of foreign investment in the first half of this year, ranking 8th among the country’s 63 provinces and centrally-run cities, the provincial People's Committee has said.

Prime Minister Pham Minh Chinh chaired a teleconference between the Government and localities and the regular Cabinet meeting in Hanoi on July 4 to review the country's socio-economic performance in the first half and outline tasks for the near future.

More than 3.22 trillion VND (136.65 million USD) of public investment capital from foreign sources was disbursed in the first six months of this year, completing 27.2% of the target set for the whole year, according to Truong Hung Long, Director of the Department of Debt Management and External Finance under the Ministry of Finance (MoF).

The Ministry of Finance has proposed to develop a resolution to exempt late tax payment penalties for loss-making enterprises in 2022, but enterprises said a more comprehensive solution is needed to support them to earn profits and revenue, and gain orders to overcome the current difficult period.

The Ministry of Transport said that it will push investors and project management boards to quickly finalise procedures to launch construction of 10 projects and complete nine others within the second quarter of this year.

The capital city of Hanoi attracted over 1.7 billion USD of foreign direct investment (FDI) in the first four months of this year with 103 new projects worth 35.2 million USD and 50 projects permitted to increase investment capital by 91.8 million USD.

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.

Investment attraction in industrial parks (IPs) in the southern province of Ba Ria - Vung Tau showed signs of slowing down in the first quarter this year, reported the management board of the provincial IPs.

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.

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.

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.

An estimated 445.9 trillion VND (over 18.18 billion USD) of investment capital sourced from the State budget was disbursed in the first 11 months of 2022, equivalent to 74.9% of this year’s target and rising19.9% year-on-year, according to the General Statistics Office (GSO).

Hanoi attracted 1.28 billion USD in foreign direct investment (FDI) in the first 10 months of this year, a rise of 27% year on year, reported the city Department of Planning and Investment.

The northern province of Bac Giang will roll out concerted measures to speed up the disbursement of public investment capital, with the launching of four new projects in late November, according to Vice Director of the provincial Department of Planning and Investment Duong Ngoc Chien.

Prime Minister Pham Minh Chinh stressed the need for drastic measures to speed up the disbursement of public investment capital and the implementation of the socio-economic recovery and development programme as well as three national target programmes, while chairing a meeting with ministries, sectors and localities on September 26.

The implementation of socio-economic recovery and development programme policies has produced positive results, which are expected to help the economy regain the growth pace like in the pre-pandemic period.