PM sets target of disbursing at least 95% of public investment capital this year
Prime Minister Pham Minh Chinh urged the acceleration of public investment disbursement, striving to disburse at least around 676 trillion VND (27.8 billion USD) or 95% of the target this year while chairing an online meeting in Hanoi on November 27 between permanent Government members and ministries, agencies and localities.
The meeting between permanent Government members and ministries, agencies and localities on November 27 (Photo: VNA)
Hanoi (VNA) ဣ– PrimeMinister Pham Minh Chinh urged the acceleration of public investment disbursement, striving to disburse at least around 676 trillion VND (27.8 billion USD) or 95% of the target this year while chairing an online meeting in Hanoi on November 27 between permanent Government members and ministries, agencies and localities.
In the first 11 months of this year, nearly 461trillion VND (19.2 billion USD) in public investment capital was disbursed,reaching 65.1% of the target, or 6.77% higher than the same period last year.Though the figure was better than last year, 41 ministries and centrally-run agenciesalong with 24 localities posted disbursement rates lower than the nationalaverage.
PM Chinh said while there is just over one month left to conclude the fiscalyear 2023, there is still a considerable amount of funding in need of disbursement,roughly 247 trillion VND (10.2 billion USD). He urged ministries, agencies andlocalities to elevate the spirit of overcoming difficulties to fulfil the new target of at least 95%.
🍒 Toachieve the goal, they were asked to follow the directives of the Party, State, National Assembly and Governmentleaders, the Government’s resolutions regarding the work, whichshould be accompanied by ensuring the quality of projects and combating corruptionand wastefulness.
Ministries were assigned to remove difficulties, includingthose related to three national target programmes in order to strengtheninspection and supervision while urging investors, contractors and consultantsto accelerate project progress. Theywere also responsible for thoroughly checking the project preparation, selectingprojects for capital allocation, paying attention to the design, bidding,construction and payment procedures. Additionally, efforts must be intensified inadministrative reform, application of information technology, and digital transformationin public investment. The Governmentleader also requested maintaining the activities of the Government’s fiveworking groups and the quarterly working session mechanism between Governmentmembers and localities. He emphasised the continuation of special workinggroups led by the Chairpersons of the People's Committees of provinces topromote public investment./.
Vietnam is striving to accelerate the disbursement of public investment in the remaining months, which will create a driving force for economic growth.
Public investment is expected to be an engine for Vietnam’s economic growth in the context that global headwinds may challenge the country’s growth target of 6.5%, according to experts.
The structure of public investment capital in the last few years has changed in line with Vietnam’s economic reforms, boosting the restructuring of industries, and regions as well as balancing socio-economic development and social welfare, said Minister of Planning and Investment Nguyen Chi Dung.
As of October 31, the disbursement of public investment was estimated at over 401.86 trillion VND (16.37 billion USD), completing 52.1% of the set plan and 56.84% of the target assigned by the Prime Minister, the Ministry of Finance reported.
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The meeting between permanent Government members and ministries, agencies and localities on November 27 (Photo: VNA) 
