The rate of public investment disbursement in 2020 was the highest in the last five years, contributing to enhancing economic growth and enabling Vietnam to be one of the highest-growth economies worldwide.

The disbursement of public investment was estimated at VND398 trillion as of the end of December, meeting 82.8 per cent of the Government’s plan – the highest rate in the 2016-20 period, according to the Ministry of Planning and Investment.

Construction of several national key projects, including the North-South Expressway and Long Thanh International Airports, have started.

Vietnam will continue pumping a great deal of money into public investment with a view to reaching the country’s economic growth goal for next year.

Disbursement of public funds in the first 10 months met 68 percent of the year’s target, nearly 14 percentage points higher than the same period last year.

The government has proposed a strong 5-year increase in public investment to achieve high economic growth, with more opportunities for private investors to join.

Vietnam is making all-out efforts to boost the disbursement of public investment as it seeks to post GDP growth of 3 percent this year amid the global economic downturn triggered by the COVID-19 pandemic.

The Ministry of Finance (MOF) has warned about problems with the Long Thanh International Airport project, citing capital arrangement capability.

Vietnam’s fourthquarter economic outlook is brighter on the back of a rise in domestic consumption and public investment.

The implementation of many large projects after the social distancing period and disbursement of public investment for infrastructure until the end of this year are expected to support growth in construction steel consumption.

Ministers and leaders of People’s Committees of cities and provinces nationwide are required to remove difficulties and promote the disbursement of public investment as well as production, business and consumption.

Amid the government’s rush to push up public investment as one of the key pillars for economic growth, numerous projects have been accelerating their progress to match the plan set forth, 

Problems remain in the implementation of Hanoi’s middle-term public investment plan for the 2016 to 2020 period, vice chairwoman of the city’s People’s Council Phung Thi Hong Ha said on Tuesday.

Strong cash flow to the stock market, a VND700 trillion package for public investment, and high demand for ingot steel from China have all helped billionaire Tran Dinh Long pocket more money despite the Covid-19 crisis.

Dr. Nguyen Duc Kien, Head of Prime Minister Nguyen Xuan Phuc’s Economic Advisory Council, speaks about the key reasons that led to the slow disbursement of public funds because of the COVID-19 pandemic.

The Vietnamese government is trying to build up an effective e-government to bring more benefits to both public and enterprises. 

The Vietnamese stock market may have found a new equilibrium in current price areas, according to Mirae Asset.

Prime Minister Nguyen Xuan Phuc has decided to establish seven delegations to inspect public invstment disbursement in several ministries, agencies and localities.

Prime Minister Nguyen Xuan Phuc has urged localities nationwide to hasten the disbursement of more than VND633 trillion (nearly US$28 billion) of public investment this year.

Public investment is expected to be one of the major driving forces for economic development in the second half of the year. Securities investors have been advised to buy building-material manufacturing shares.