Disbursement of foreign capital for infrastructure construction exceeds VND10 trillion

Accordingly, the total registered capital for fundamental construction from foreign capital reached VND45.653 trillion, of which the foreign capital for central and local levels hit VND18.605 trillion and VND27.048 trillion while disbursement of foreign capital for infrastructure construction at central and local levels attained VND5.655 trillion and VND4.72 trillion, respectively.

Earlier on September 26, Prime Minister Nguyen Xuan Phuc chaired the nationwide teleconference on accelerating public investment allocation and disbursement in 2019.

Disbursement of public investment capital in the first nine months of 2019 met only 45.17%of the yearly target set by the National Assembly and 49.14%of the target set by the PM.

There are 31 ministries and central agencies and 19 localities with the disbursement rates under 50%of their assigned figures. Among them, 17 ministries and agencies and one locality only metunder30%of the target.

Public investment accounts for 10.7% of GDP and 32% of total investment capital in 2019.

Only seven ministries, agencies and 14 localities disbursed above 70% of capital.

Speaking at the nationwide teleconference, PMPhuc demanded all ministries, sectors and localities speed up the allocation of public investment capital, an urgent key task from now through 2020 - the final year of the medium-term public investment plan for 2016-2020.

He said ministers, heads of sectors and leaders of localities must take full responsibility for this task, asking them to enhance coordination in the settlement of hindrances to the implementation of projects using public funds.

Assigning tasks to ministries, PM Phuc showed his support for the establishment of a special working group for monitoring and promoting construction projects funded with public capital.

He also requested ministries, central agencies and localities to clarify the responsibility of collectives and individuals who hamper the disbursement progress.

(Source: VGP)