PUBLIC INVESTMENT DISBURSEMENT REACHES 32.5% OF TARGET IN H1

A publicly funded project is currently under construction - PHOTO: VGP

HCMC – Around VND268.1 trillion in public investment had been disbursed by June 30, equivalent to 32.5% of the annual target, up from 28.2% in the same period last year, according to the Ministry of Finance.

As of June 30, ministries, central agencies, and local authorities had allocated and assigned detailed spending plans totaling VND817.8 trillion, equivalent to 98.7% of the total plan approved by the prime minister.

This includes VND342.9 trillion from the central budget and VND474.8 trillion from local budgets. Nationwide, about VND9.7 trillion – comprising VND8.2 trillion in domestic capital and VND1.5 trillion in foreign capital – remains unallocated in detail.

Since early this year, the ministry has introduced multiple initiatives to speed up public investment disbursement, notably forming seven special task forces headed by government leaders and ministers to directly inspect and resolve bottlenecks.

Another notable effort is the handling of long-stalled projects.

The ministry is currently advising the Government to seek approval from the National Assembly to expand the scope of special policy mechanisms, and is also submitting to the Politburo a set of principles and solutions to resolve key bottlenecks definitively.

Source: The Saigon Times