Hanoi (VNA) - Prime Minister Pham Minh Chinh has signed a dispatchrolling out measures to speed up disbursement of public investment in 2021.
The document stressed that due to the COVID-19 pandemic, asof July 31, disbursement of public investment reached 36.71 percent of the yearly plan compared to 40.67 percent of the same period last year. Notably, thatof ODA and concessional loans was only 7.52 percent in the period.
The Government targets raising the disbursement rate to atleast 95 percent this year.
To that end, PM Chinh requested ministries, sectors andlocalities consider stepping up public investment disbursement a mainpolitical task in 2021, review allocation of public investment capital toensure that the capital is injected into feasible projects, and impose strictfines on investors, project management boards, individuals and organisationsdeliberately hindering progress of capital allocation and implementation.
It is also necessary to continue reviewing mechanisms,policies and regulations related to public investment for timely amendment andsupplementation.
The Government leader required the Ministry of Finance to coordinatewith relevant ministries and agencies to timely remove obstacles relevant tonegotiations, signing of loan agreements, and withdrawal of loans./.
Ho Chi Minh City needs nearly 686 trillion VND (29.8 billion USD) for its mid-term investment plan for the 2021-25 period, according to the municipal People’s Council.
The Central Institute for Economic Management (CIEM) introduced two scenarios for Vietnam’s economic growth in 2021 during a workshop held in Hanoi on July 15.
The disbursed public investment declined in July due to the surge in COVID-19 cases, but it still grew 5.6 percent in the first seven months of 2021 as compared to the same period last year.
The northern province of Quang Ninh disbursed more than 8.1 trillion VND (352.8 million USD) as of July 31, equivalent to 43.3 percent of the plan for the full year, according to the province’s Department of Planning and Investment (DPI).
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Illustrative image (Source: VNA) 
