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.
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.
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).
Prime Minister Pham Minh Chinh on November 10 signed an official dispatch requiring all ministries, sectors and localities to speed up the disbursement of public investment in the remaining months of 2022 and the first months of the following year.
As of the end of September, the Ministry of Transport (MoT) had disbursed 53.7% of total public investment planned for this year, higher than the national average of 47%, according to Luu Quang Thin, deputy head of the MoT’s Planning and Investment Department.
Disbursement of foreign direct investment (FDI) in the first nine months of this year reached 15.4 billion USD, up 16.2 % year-on-year and marking a record high, a report from the Foreign Investment Department (FIA) has shown.
The disbursement of public investment capital is one of the measures to promote growth, affirmed Prime Minister Pham Minh Chinh when chairing a nationwide conference on September 26.
The ninth sitting of the 16th Hanoi People’s Council wrapped up on September 12, with the adoption of nine resolutions covering a wide range of economic and social issues.
Speeding up project implementation progress and settling outstanding debt in capital construction for the acceleration of public investment disbursement were highlights of a conference held in the northern province of Hung Yen on September 7.
Ho Chi Minh City is seeking approval for an additional 120 trillion VND (5.13 billion USD) of public investment from the central government and the disbursement of previously approved public investment in order to speed up the progress of major public projects, said a municipal official.
Prime Minister Pham Minh Chinh on August 3 urged stronger determination, efforts and actions to disburse public investment as part of the Government’s main priorities.
Prime Minister Pham Minh Chinh stressed the need to ensure the stability of the macro-economy, markets of different kinds, politics and people’s material and spiritual life, while chairing a regular government meeting on August 3.
The Government convened its monthly meeting on June 4, discussing the socio-economic situation in May and the first five months of 2022 and reviewed the implementation of the government’s socio-economic recovery and development programme and the allocation and disbursement of the State budget this year.
The Q1 public investment disbursement rate is down, meaning to increase required volumes of implementation to match government suggested rates will take a concerted effort. Localities need to set up working groups to spur growth to increase public disbursement of funds.
The Vietnamese Government has set up six working groups to speed up the disbursement of public investment to create impetus for post-pandemic economic growth.
Legal steps for operating ODA projects are simplified to accelerate the disbursement of the soft foreign loans after amendments to nine laws took effect earlier this month, according to the Ministry of Planning and Investment (MPI).
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