Update news public investment
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.
Rebounds in retail and consumption services and in the disbursement of public investment are expected to put pressure on the country’s efforts to bring inflation under control this year.
The Ministry of Planning and Investment has been assigned to publicize the names of ministries, central bodies, and localities that have a disbursement rate of public capital below the country’s average rate on the national public service portal.
A series of construction enterprises will benefit from the Government implementing multiple strategic public investment infrastructure projects.
Minister of Finance Ho Duc Phoc said since capital for public investments cannot be disbursed, the Ministry of Finance has had to leave VND1 quadrillion worth of capital at banks with the interest rate of 0.8 percent per annum.
The HCMC People’s Council has endorsed the city People’s Committee’s proposal to add VND19,555 billion to the city’s 2021-2025 mid-term investment plan, funded by the local budget.
To speed up disbursement, Prime Minister Pham Minh Chinh last week issued Directive No.08/CT-TTg on accelerating allocation and disbursement of such capital to reach 95 per cent of the total yearly plan.
The incomes from land and houses in the first two months of the year were only 47 percent of the figure of the same period last year.
The execution of the Ben Luc - Long Thanh highway has been interrupted for a long time due to problems in reciprocal capital arrangement. Foreign contractors have filed a claim for damages.
Vietnamese Prime Minister required both to ensure a high disbursement rate of public investment capital and the right quality and efficiency of projects.
While the real estate market is gloomy and realtors need capital, some enterprises are developing projects with investment capital of trillions of VND.
Minister of Planning and Investment Nguyen Chi Dung has said that projects under the economic recovery program have been going slowly because many projects have to be revised.
Over 28.8 trillion VND (1.25 billion USD) from the socio-economic recovery and development programme has yet to be allocated, Minister of Planning and Investment Nguyen Chi Dung told the National Assembly Standing Committee’s meeting on February 13.
The Ministry of Transport's Department of Planning and Investment Director Bui Quang Thai said the plan on disbursing VND94.14 trillion for projects with completed procedures has been determined.
The Government has tasked the Ministry of Transport with disbursing nearly VND94.2 trillion of public investment in 2023, up 1.7-fold against the 2022 figure and 2.2-fold versus 2021.
More than VND638 trillion in public investment capital for this year has been allocated, reaching over 90% of the target set by the Prime Minister, according to a Ministry of Finance report.
Many companies in HCM City have reported high growth rates, which can be seen in the high Tet bonuses being offered to their workers. They now need support in capital and market information.