Vietnamplus

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

The total disbursement of public investment reached 11.2 billion USD as of the end of July. According to the Ministry of Finance, the figure fulfilled only 35.5% of the plan set for 2023, but still higher than what recorded in the same period last year.

The total disbursement of public investment reached 267.6 trillion VND (11.2 billion USD) as of the end of July, fulfilling only 35.49% of the plan set for 2023, but higher than the 34.47% recorded in the same period last year, according to the Ministry of Finance.

The disbursed capital sourced from the state budget topped 291 trillion VND (12.3 billion USD) in the first seven months of 2023, equivalent to 41.3% of the yearly target and rising 22.1% from a year earlier, showing an observable improvement in public investment disbursement, said the General Statistics Office (GSO).

Strong disbursement of public investment, especially from the second quarter of this year, has helped increase demands and promote growth of economic sectors, thus contributing to boosting economic growth in the second quarter and the first half of 2023, said General Director of the General Statistics Office Nguyen Thi Huong.

Accelerating public investment disbursement, particularly for National Target Programmes, would bolster aggregate demand and foster short-term economic growth, according to a report published by the World Bank (WB) on June 19.

The northern province of Bac Giang is taking action to accelerate the disbursement of public investment and the implementation of the socio-economic recovery and development as well as the national target programmes for the 2021-2025 period.

More than 110.6 trillion VND (4.7 billion USD) of public investment was disbursed in the first four months of this year, equivalent to 14.6% of the yearly target and lower than the 18.48% in the same period last year, according to the Ministry of Finance.

Deputy Prime Minister Tran Hong Ha has asked ministries and central agencies to work closely with localities to remove obstacles for particular projects, thus speeding up public investment disbursement.

Deputy Prime Minister Le Minh Khai has emphasised the need to clear all roadblocks and clarify the responsibilities of the persons concerned to accelerate public investment disbursement.

Prime Minister Pham Minh Chinh has requested ministries and sectors speed up administrative reform and disbursement of public investment, towards promoting economic activities to create jobs and livelihoods for people.

Socioeconomic development in the second quarter of 2023 and later is forecast to be complex and unpredictable with more difficulties and challenges than opportunities.

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.

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.

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.