National Road 45 - Nghi Sơn Expressway was put to use on September 1, 2023. — VNA/VNS Photo

This means disbursement reached 52 per cent of the schedule for this year, according to the ministry’s Department of Planning and Investment.

The disbursement is more than two times higher in value and 12 per cent higher as a percentage of the total plan as compared to the same period last year.

The disbursement value in the past eight months was mainly in the North-South Expressway projects, reaching more than VNĐ36.2 trillion ($1.5 billion), accounting for nearly 74 per cent of the disbursement value of the entire Ministry of Transport.

Accordingly, the North-South Expressway project's phase 1 was disbursed nearly VNĐ9.5 trillion ($396 million), reaching 54 per cent of the year's plan and 98 per cent of the plan registered by investors while the project's phase 2 was disbursed nearly VNĐ26.8 trillion ($116.5 million), reaching 59 per cent of the year's plan and 93 per cent of the plan registered by investors.

Other key and urgent projects were disbursed VNĐ547 billion ($22.7 million), reaching more than 34 per cent of the year's plan and 60 per cent of the plan registered by investors.

Meanwhile, VNĐ5 trillion ($208 million) was disbursed for ODA (Official Development Assistance) projects, completing 65 per cent of the year's plan and 99 per cent of the disbursement plan registered by investors.

Other domestic projects were disbursed VNĐ7.87 trillion ($327 million).

Disbursement progress has maintained at a higher level than the national average, but disbursing the remaining capital of about VNĐ46 trillion ($1.91 billion) in the last five months of the year is a huge challenge for the transport sector.

In order to fulfil the task, investors and project management units (PMUs) need to make strong efforts under the close supervision of advisory agencies.

For projects including Highway 8C in Hà Tĩnh Province, the bypass route in the east of Đông Hà City in Quảng Trị Province, Lạng Sơn Highway 4B in Lạng Sơn Province, and some sections of Hồ Chí Minh Expressway, the ministry has asked investors to speed up investment preparation procedures and start construction according to the plan to disburse allocated capital.

For component projects of the North-South Expressway project in the period 2017 - 2020 such as Mỹ Thuận Bridge 2, Diễn Châu-Bãi Vọt, and Cam Lâm-Vĩnh Hảo, investors were requested to push contractors to arrange labour and machinery in order to accelerate construction progress as well as propose sanctions against contractors who do not meet the required capacity.

Investors and PMUs needed to co-operate with local authorities to overcome obstacles in site clearance and complete procedures to disburse all allocated capital. — VNS