Hanoi disburses 88.1 percent of public investment by 2020’s end
The capital city of Hanoi disbursed close to 34.3 trillion VND (nearly 1.49 billion USD) in public investment last year, representing 88.1 percent of the goal set by the government.
The intersection between Belt Road No.3 and Hanoi - Hai Phong Expressway is open to traffic last weekend. Its construction was funded by Hanoi's budget. (Photo: nhandan.com.vn)
Hanoi (VNA) – The capital city of Hanoidisbursed close to 34.3 trillion VND (nearly 1.49 billion USD) in publicinvestment last year, representing 88.1 percent of the goal set by the government.
The percentage was higher than to 2019’s 76.7 percent;and the city is among 17 cities and provinces with disbursement rates of 80percent or higher.
However, it was reported that a number of local unitshave seen sluggish disbursement of public capital and failed to realise thegoals.
In a recently-issued notice, the municipal People’sCommittee has requested its departments, agencies and district- and town-leveladministrations to take more drastic actions to speed up the disbursement ofpublic investment in the city by the end of January.
The entire city must make all-out efforts to increase the2020 disbursement rate to the highest possible, the notice said.
Vietnam’s disbursement of public investment was estimatedat 398 trillion VND (17.24 billion USD) as of the end of December, meeting 82.8percent of the Government’s plan – the highest rate in the 2016-20 period,according to the Ministry of Planning and Investment.
In comparison, the disbursement rates were 80.3 percent,73.3 percent, 68,87 percent and 67.46 percent in 2016, 2017, 2018 and 2019,respectively.
The disbursement of public investment sourced from theState budget was estimated at 91.1 percent of the 2020 plan, the highest ratein the past ten years.
Seventeen ministries, central-level agencies and 17provinces and cities had disbursement rates of 80 percent or higher. However,13 ministries and central-level agencies and five localities reported publicinvestment disbursement rates of below 60 percent.
Still, the disbursement missed the Government’s target thoughpublic investment was identified as the key driver for economic growth in thecontext of the COVID-19 pandemic.
The ministry said that the COVID-19 pandemic was alsosignificantly affecting the progress of public investment disbursement as wellas the implementation of public-funded projects./.
The disbursement of public investment sourced from foreign loans in localities around Vietnam during January - November increased considerably compared to the first half of the year.
The disbursement of State budget capital reached an estimated 91.1 percent of the plan set for the year and rose 34.5 percent year-on-year, the highest rate in the 2011-2020.
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The disbursement of public investment was estimated at 398 trillion VND (17.24 billion USD) as of the end of December, meeting 82.8 percent of the Government’s plan – the highest rate in the 2016-20 period, according to the Ministry of Planning and Investment.
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The intersection between Belt Road No.3 and Hanoi - Hai Phong Expressway is open to traffic last weekend. Its construction was funded by Hanoi's budget. (Photo: nhandan.com.vn)
