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.
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 central province of Nghe An holds huge opportunities, advantages and resources to make breakthroughs in the coming years, Prime Minister Pham Minh Chinh said at a working session with the Standing Board of the provincial Party Committee as part of his trip to the locality on July 24.
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).
Over 257.3 trillion VND (11.1 billion USD) in public investment capital were disbursed as of late October, or 55.8 percent of the target assigned by the Prime Minister, reported the Finance Ministry.
The Vietnamese economy is likely to gradually recover from the fourth quarter of 2021 and escape the minus growth seen in the third quarter thanks to the activeness of the business community and the Government’s efforts to remove obstacles facing enterprises, held economist Nguyen Bich Lam who is former Director General of the General Statistics Office.
The Government Office has issued the Notice No.262/TB-VPCP dated October 5, 2021 on the Prime Minister’s conclusions at the nationwide teleconference with ministries, centrally-run agencies and localities on stepping up the disbursement of public investment capital this year.
Only over 220.7 trillion VN D (9.7 billion USD) worth of public investment capital was disbursed by the end of August, or 40.6 percent of the plan assigned by the Prime Minister.
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.
Hanoi lured more than 18.7 million USD of foreign direct investment (FDI) in August, raising the total FDI poured into the city in the first eight months of 2021 to 841.8 million USD, according to 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.
Though COVID-19 has sent the global economy into one of its worst recessions ever, Vietnam posted GDP growth of 2.91 percent in 2020 thanks to its solid control of outbreaks and timely support to both enterprises and local people.
Ho Chi Minh City had disbursed nearly 23 trillion VND (987.48 million USD) of public investment capital as of September 22, completing 54.2 percent of its yearly target, the Office of the city People’s Committee has reported.
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 northern coastal province of Quang Ninh targets double-digit growth in the gross regional domestic product (GRDP), and State budget collection of a 48 trillion VND (approximately 2 billion USD) in 2020, according to Secretary of the provincial Party Committee Nguyen Xuan Ky.
The Finance Ministry has asked for synchronous and drastic measures from the entire political system, ministries, agencies, and localities to step up the disbursement of public investment capital.
Business
