The Ministry of Planning and Investment (MPI) has been asked to meet the goal of 6-6.5% GDP growth in 2021.
The goal was set during the regular government meeting in August about the socio-economic situation in 2020 and development plan for 2021. The MPI will gather all opinions from related agencies to compile a report to the prime minister.
The MPI will collaborate with the Ministry of Finance over the adjusted state budget investment capital usage plan for 2020 and submit it to the prime ministerial approval. The two ministries were also asked to report about the usage of investment capital by September 25 and speed up the disbursement process for 2020 projects.
Regarding the disbursement date for 2018 and 2019 investment plans that have been extended to 2020, the government agreed to let agencies to quickly disburse all of the money by the end of December 31.
State agencies will submit detailed investment plans that use state budget in 2020 by September 30. Afterwards, the MPI will work with the Ministry of Finance to review projects that don't have detailed plans and report to the prime minister to allocate investment capital to other locations and projects that are in need of more investment and have sufficiently developed investment plans.
Truong Van Phuoc, a respected economist, is optimistic about Vietnam’s growth, though some analysts warned about a negative growth rate after the new Covid-19 outbreak was discovered in Da Nang.