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.

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).

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.

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.

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.

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.

The Government issued Resolution 124/NQ-CP, dated September 15, 2022 on measures and tasks to accelerate public investment disbursement in the rest of 2022.

Since the beginning of 2022, the northern province of Ninh Binh has implemented numerous solutions to accelerate the progress of public capital projects as scheduled and to disburse public investment capital in a bid to effectively realise the Government's Resolution No. 11/NQ-CP dated January 30, 2022 on the socio-economic recovery and development programme.

The initial six months of the year saw public investment disbursement only met 27.86% of the annual plan, a figure even lower than the 29.02% recorded in the same period last year, according to the Ministry of Planning and Investment (MPI).

Following the Prime Minister's direction in Decision No. 548/QD-TTg, dated May 2, 2022, the Ministry of Finance compiled a summary report on May 18 on inspecting and removing difficulties and obstacles while accelerating disbursement of public investment capital 2022.

Prime Minister Pham Minh Chinh signed Decision No.548/QD-TTg on May 2 to establish six working groups to inspect and remove difficulties and obstacles, and accelerate the disbursement of public investment capital in 2022 at ministries and central and local agencies that have not fully allocated the assigned public investment capital plan by April 30; with the disbursement rate as of April 30 being below the national average (18.48%).

Over 257.3 trillion VND (11.1 billion USD) in public investment capital were disbursed as of late October, or 55.8 percent of the target assigned by the Prime Minister, reported the Finance Ministry.

Ninh Binh province had disbursed 1.6 trillion VND of public investment capital by July 31, equivalent to 50.1 percent of the yearly plan and higher than the average figure of the whole country. The above result was attributed to the Ninh Binh's right direction in implementing dual tasks.

The northern province of Ninh Bình disbursed 1.57 trillion VND (some 49.2 million USD) of public investment in the seven months of 2021, fulfilling 50 percent of the set target.