HCM City strives to speed up public investment disbursement
Ho Chi Minh City had disbursed nearly 20.06 trillion VND (865.4 million USD) in public investment or 47.6 percent of the plan for the whole year as of the end of July, according to the municipal People’s Committee.
At a station of the Ben Thanh - Suoi Tien urban railway project in Ho Chi Minh City which is under construction. (Photo: VNA)
HCM City (VNA) – Ho Chi Minh City had disbursed nearly 20.06 trillion VND (865.4 million USD) in public investment or 47.6 percent of the plan for the whole year as of the end of July, according to the municipal People’sCommittee.
Though the disbursement rate was higher than the same periodlast year, it has failed to meet expectation of the government as well as thecity leaders, and to become a factor boosting local economic growth.
It was largely attributed to the long delay in payment of landcompensation, affecting progress of local projects and disbursement plans. Slowdisbursement of Official Development Assistance (ODA) loans in Ben Thanh – SuoiTien urban railway project was also blamed for the low rate. Just about 41percent of the total 9.94 trillion VND in ODA allocated for the metro projecthas been disbursed so far.
Chairman of the HCM City People’s Committee Nguyen Thanh Phong said that the city will continue taking several measures to speed up thedisbursement of the local public investment.
HCM City sets to disburse at least 80 percent of the plannedinvestment by October 15 and over 95 percent of the plan by the end of thisyear, Phong vowed.
The city will classify projects according to theirimportance, and assign officials to monitor their progress and remove barriersif necessary, he said. The city also decided to disburse capital for eligibleprojects within four working days and produce reports about challenges facing thedisbursement every two weeks.
The will accelerate progress in payment of land compensationand resettlement, he added./.
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At a station of the Ben Thanh - Suoi Tien urban railway project in Ho Chi Minh City which is under construction. (Photo: VNA)
