Tìm kiếm: public investment

Vietnam is speeding up public investment disbursement to push growth, after going through difficult times due to the severe economic impact of Typhoon Yagi.

Leaders of Ninh Binh, including Secretary of the provincial Party Committee Doan Minh Huan, Chairman of the provincial People's Council Mai Van Tuat and Chairman of the provincial People's Committee Pham Quang Ngoc on August 23 inspected the progress of some public investment projects in the province.

Prime Minister Pham Minh Chinh has asked for breakthrough solutions to fulfil the target of 95% in the disbursement rate of public investment capital in 2024.

The Government Office on July 9 issued an official dispatch on Prime Minister Pham Minh Chinh's directions requiring the acceleration of public investment disbursement for 2024.

Having defined public capital investment disbursement as an important solution to recover the economy, since the beginning of the year, the Ninh Binh provincial People's Committee has issued numerous directives to speed up the disbursement of public capital investment. However, the outcomes have lagged behind expectations. Therefore, the province needs to make concerted efforts to disburse at least 90% of the allocated capital.

A delegation of government members led by Tran Van Son, member of the Party Central Committee, Minister-Chairman of the Government Office, had a working session with Ninh Binh's leaders on the production and business situation, public investment, infrastructure development and export-import in the province.

The disbursement of public investment from the State budget in the first five months of this year was estimated to reach 190.6 trillion VND (7.44 billion USD), equal to 26.6% of the yearly target and 5% higher than the same period last year, according to the General Statistics Office (GSO).

Prime Minister Pham Minh Chinh on May 4 chaired the Government's regular meeting to review the socio-economic situation in April and the first four months of 2024, public investment allocation and disbursement, and the implementation of the three national target programmes.

The year 2024 is a pivotal year for Ninh Binh to implement its mid-term public investment capital plan for the 2021-2025 period. Therefore, right since the first months of 2024, local departments, sectors, and localities have focused on disbursing public investment capital with the goal of fulfilling over 95% of the assigned plan.

The Ninh Binh provincial People's Committee has requested departments, sectors, agencies and localities to speed up the disbursement of public investment allocated for 2024.

The disbursement of public investment was reported at nearly 676 trillion VND (27.52 billion USD) in 2023, reaching 95% of the set plan, also the highest level so far. In addition, public investment has been restructured to focus on projects with spillover effects.

More than 3.33 trillion VND (135.5 million USD) of public investment was disbursed in Ninh Binh province in the first nine months of this year, equivalent to 51.7% of the yearly target assigned by the Prime Minister, according to the provincial People's Committee.

A delegation from the Government, led by member of the Party Central Committee, Minister-Chairman of the Government Office Tran Van Son, had a working session with Ninh Binh's leaders on October 18 and 19, focusing on production, business, public investment, infrastructure building, and import-export in the province.

Ninh Binh has defined that building infrastructure is one of three breakthroughs in the province's socio-economic development in the period of 2021-2025. Provincial leaders have urged administrations at all levels and sectors to speed up construction of key transport projects, thereby contributing to developing infrastructure and accelerating public investment disbursement.

The total disbursement of public investment reached 267.6 trillion VND (11.2 billion USD) as of the end of July, fulfilling only 35.49% of the plan set for 2023, but higher than the 34.47% recorded in the same period last year, according to the Ministry of Finance.

More than 3.22 trillion VND (136.65 million USD) of public investment capital from foreign sources was disbursed in the first six months of this year, completing 27.2% of the target set for the whole year, according to Truong Hung Long, Director of the Department of Debt Management and External Finance under the Ministry of Finance (MoF).

A series of construction enterprises will benefit from the Government implementing multiple strategic public investment infrastructure projects.

More than 110.6 trillion VND (4.7 billion USD) of public investment was disbursed in the first four months of this year, equivalent to 14.6% of the yearly target and lower than the 18.48% in the same period last year, according to the Ministry of Finance.

A delegation of the Ministry of Planning and Investment led by its Minister Nguyen Chi Dung on March 30 inspected preparation for Ninh Binh - Hai Phong expressway project and progress of medium-term public investment projects in the period of 2021-2025 in Ninh Binh province.

The provincial People's Committee of Ninh Binh has decided to establish a working group in a bid to accelerate the implementation and disbursement of public investment in 2023.

The Government views public investment as both a resource and a driving force behind national development, says Prime Minister Pham Minh Chinh.

Vietnam has been accelerating the disbursement of public investment since the beginning of this year after missing its target in 2022.

While consumption has shown signs of slowing down, attracting foreign investment with strong growth in realised capital but not yet recovering in newly registered capital, public investment will still be the main driver of economic growth in 2023.

The 2022 socio-economic performance, the socio-economic development plan for 2023, the 2022 State budget, the 2023 State budget estimate, public investment plan and allocation of State budget will be the focus of the seventh working day of the 15th National Assembly's fourth session on October 27.

Ninh Binh ranked among the top localities with a high rate of public investment disbursement. The outcome was attributed to the efforts of party committees and administrations at all levels.