The estimated cost of the North-South Expressway in 2018 was VND16 trillion lower than the initial estimate made in 2017 when the National Assembly decided to develop the project.

New policies are expected to accelerate the recovery of the real estate market and lay a firm foundation for the market’s long-term development.

Some National Assembly delegates yesterday expressed concerns over the Government's decision to transfer certain components of the North-South Expressway from the PPP model to public investment, Thanh Nien newspaper reported.

The Covid-19 crisis may prevent Vietnam from its plan to have 1 million businesses by the end of 2020.

The Government is focusing on boosting the development of enterprises and encouraging private investment to accelerate post-pandemic economic growth.

Public investment is expected to play a very important role in promoting economic growth in 2020 and the enterprises in the building material sector are the biggest beneficiaries, economists say.

As many as 25 traffic projects in Vietnam could be suspended or delayed due to capital shortages, according to the Ministry of Transport.

If the huge capital for public investment can be brought into the economy, Vietnam would be able to save GDP growth.

As Vietnam employs unprecedented measures to recover from the economic ravages of the COVID-19 pandemic with hastened disbursement of public investment, supervision must be enhanced to prevent profiteering, politicians have warned.

VinaCapital has predicted a 3 percent GDP growth rate reduction because of Covid-19, while Fitch has projected a modest growth rate of 3.3 percent, and ADB 4.8 percent.

The Ministry of Planning and Investment has asked for corporate income tax (CIT) to be cut for small and medium-sized enterprises (SMEs) by half this year in an effort to boost growth when the COVID-19 pandemic eases.

The Ministry of Finance will focus on improving the business climate and creating favourable conditions for businesses to accelerate growth, which is important to ensure State budget revenue amid the COVID-19 pandemic.

Boosting the disbursement of all planned public investment would help increase this year’s gross domestic product (GDP) by 0.42 percentage points, according to the General Statistics Office (GSO).

Ministries are working to convince Prime Minister Nguyen Xuan Phuc to amend divestment plans at some large State-owned enterprises (SOEs).

The sluggish disbursement of public investment is attributable to the combination of three major factors.

The Presidential Office held a press conference in Hanoi on July 4 to announce the President’s order on the promulgation of seven laws which were adopted at the seventh session of the 14th National Assembly.

The draft revised law on public investment was at the focus of attention at the National Assembly during the morning of May 28, the 7th working day of the NA’s 7th session.

Some economists warn that the higher investment capital for national important projects may make it more difficult to manage public projects and lend a hand to unnecessary use of state funds.

Vietnam is still under big pressure to call for capital for domestic debt swap, with 50 percent of domestic debts expected to reach maturity in the next three years, according to the World Bank.

 VietNamNet Bridge – Localities and ministries this year must tighten controls on public investment activity, especially in the stages of fund appraisal and balance, approval in principle and final approval.