In a report at a meeting on public investment disbursement on 17/9, the Ho Chi Minh City Department of Finance stated that as of 11/9, the city had disbursed over 53,860 billion VND of public investment capital. This equates to 45.2% of the plan assigned by the government.
After adjustments, the government assigned Ho Chi Minh City to disburse nearly 118,950 billion VND of public funds this year. Therefore, to complete this task, the city needs to disburse an average of 590 billion VND per day over the next three months.
According to Nguyen Van Duoc, Chairman of the People's Committee of Ho Chi Minh City, the city's public investment disbursement was positive in the first half of the year, reaching over 40%, the highest rate in the past five years. However, the disbursement rate slowed down significantly in July and August. He mentioned this limitation in the socio-economic meeting held last week.
On a positive note, compared to the end of August, public investment disbursement in the past two weeks has increased by more than 2,330 billion VND, equivalent to 1.9% of the plan, higher than the combined results of the previous two months.
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National Highway 13 is a project that needs to be expanded, connecting Ho Chi Minh City and the old Binh Duong area. Photo: Quynh Tran |
National Highway 13 is a project that needs to be expanded, connecting Ho Chi Minh City and the old Binh Duong area. Photo: Quynh Tran
Starting in July—when the new city administration began operating—the Department of Finance proposed that the People's Committee of Ho Chi Minh City review, monitor, and track projects with large disbursement plans for each month of Quarter III and direct investors to adhere to the schedule.
Nguyen Van Duoc emphasized that public investment disbursement and site clearance are crucial tasks for Ho Chi Minh City, the nation's economic engine, as they affect the growth rate of both the country and the city.
Ho Chi Minh City aims for a GRDP growth rate of 8.5% or higher for the entire year; therefore, the city needs to achieve a growth rate of approximately 10.3% in the second half of the year. Public investment disbursement is critical to achieving this rate, as it serves as seed capital for the economy and the primary driver of growth.
Therefore, the Chairman of the People's Committee requested that departments, branches, and units closely coordinate and remove bottlenecks in site clearance to create a significant shift in public capital disbursement. According to the Department of Finance, as of 11/9, Ho Chi Minh City has disbursed nearly 24,150 billion VND in compensation for site clearance, achieving 52.2% of the allocated capital.
Vien Thong
