Deputy Finance Minister suggests speeding up public capital disbursement
There remains difficulties in the disbursement of public investment capital between now and the year-end due to COVID-19, said Deputy Finance Minister Tran Xuan Ha during a teleconference on June 25.
Deputy Finance Minister Tran Xuan Ha speaks at the event (Photo: VNA)
Hanoi (VNA) – There remains difficulties in the ♛disbursement of publicinvestment capital between now and the year-end due to COVID-19, said DeputyFinance Mini🀅ster Tran Xuan Ha during a teleconference on June 25.
As of June 24, foreign capital disbursement surpassed 7.4trillion VND (321 million USD), or 13.1 percent of the estimate.
Of the figure, over 2.8 trillion VND were disbursed byministries and agencies and the remaining by localities.
Head of the Finance Ministry’s Department ofDebt Management and External Finance Truong Hung Long said 10 localities haveyet to disburse foreign loans this year, including Bac Giang, Hai Duong, NamDinh, Da Nang, Ninh Thuan, Binh Thuan, Binh Phuoc, Dong Nai and Tien Giang.
In Ho Chi Minh City alone, disbursement ratenow stands at 4.13 percent.
Pham Thi Hong Ha, Director of the municipalFinance Department, said the city will disburse over 7.63 trillion VND inforeign loans this year, or 53.76 percent of the plan.
Deputy Minister Ha suggested that the Government and Prime Minister directministries, agencies and localities to work closely with rele♏vant agencies tospeed up public investment capital, including foreign and preferential loans./.
Deputy Prime Minister Vuong Dinh Hue has asked ministries, agencies and localities to accelerate public investment disbursement in line with the Government’s Resolution No.70/NQ-CP and the PM’s Directive No.09/CT-TTg.
Prime Minister Nguyen Xuan Phuc has ordered that more drastic solutions to be taken to speed up the disbursement of public investment capital, which he described as an urgent task from now through 2020.
Almost 34.75 trillion VND (1.49 billion USD) of public investment capital was disbursed in the first two months of 2020, equivalent to 7.38 percent of the year’s plan and nearly doubling the value and progress in the same period last year.
Prime Minister Nguyen Xuan Phuc has ordered ministries, sectors and localities to boost the disbursement of public investment capital and consider this as the most important measure to make up for the losses the COVID-19 epidemic causes to economic growth.
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Deputy Finance Minister Tran Xuan Ha speaks at the event (Photo: VNA) 
