Deputy PM requests stepping up public capital disbursement

15:02 | 08/05/2019 Investment

Deputy Prime Minister Vuong Dinh Hue has asked ministries, agencies and localities to accelerate public investment disbursement in line with the Government’s Resolution No.70/NQ-CP and the PM’s Directive No.09/CT-TTg.

deputy pm requests stepping up public capital disbursement
Deputy PM Vuong Dinh Hue - Photo: VGP

Chairing a recent meeting in Hanoi to review the four-month public capital disbursement, the Deputy PM requested stepping up preparations for projects, including choosing contractors in line with the law, ensuring progress as scheduled, among others.

Investors must closely monitor disbursement to promptly ask for the addition of capital, thus hastening projects’ progress.

Ministries and localities were urged to enhance inspection and deal with violations in line with the law.

According to the Ministry of Planning and Investment, the Prime Minister has issued decisions allocating State budget capital this year to ministries, agencies and localities with a total value of over VND367.3 trillion (US$15.9 billion), or 85.5 percent of the plan.

The Finance Ministry reported that the total public investment disbursement surpassed VND68.5 trillion in the period from January – April 2019, or 16.45 percent of the target set by the legislature, compared to 15.83 percent recorded during the same period last year.

The foreign investment disbursement reached only 2.5 percent, lower than the 6.34 percent in four months last year.

During the first four months of this year, nine ministries, agencies and localities achieved high disbursement rate of over 40 percent while 39 others disbursed below 10 percent.

Theo NDO/VNA