Hanoi accelerates public investment disbursement

13:00 | 14/10/2020 Economy Follow Ven.vn on

(VEN) - The Deputy Chairman of the Hanoi People’s Committee Nguyen Van Suu said the capital is determined to disburse its entire 2020 public investment funds in order to spur economic growth.

hanoi accelerates public investment disbursement

Hanoi has disbursed 58.6 percent of 2020 public investment capital

Closer supervision

Hanoi disbursed VND26.6 trillion worth of public investment in the first eight months of 2020, up 2.8 percent from the same period last year and equivalent to 58.6 percent of the VND40.67 trillion yearly plan. City authorities have asked all relevant agencies to implement synchronous measures to overcome the Covid-19 impact and strive to disburse 97-100 percent of public investment in 2020.

According to the Hanoi People’s Committee, the disbursement of public investment and the implementation of public projects lag behind mainly due to the Covid-19 pandemic, inadequacies in legal documents, prolonged site clearance procedures and unskilled staff.

To speed up disbursement, Hanoi will focus on directing investors to urgently carry out projects on the list of medium-term public investment plans as approved by the people's council.

The city will also tighten the inspection and supervision of investment projects with low disbursement results and delays. Meanwhile, departments and agencies should continue to review and implement administrative reforms related to construction investment and compensation for site clearance and land acquisition, among others.

The city has established a special working group to review and assess budget expenditure, and study specific projects’ problems. The city people's committee had meetings with ministry representatives, leaders of departments and sectors, heads of urban and suburban district people's committees, and investors to help overcome difficulties.

Planned borrowing

“The city will closely monitor the implementation of projects and promptly adjust the capital plans from projects with slow disbursement to other projects. The city will also give specific directions on the handling of problems regarding each project while strengthening management and supervision at construction sites to achieve the disbursement target of 97-100 percent of public investment capital in 2020 and in January 2021, making an important contribution to achieving set growth targets,” said Deputy Chairman of the Hanoi People’s Committee Nguyen Van Suu.

Hanoi will be realizing an action program to implement Government Resolution 84/NQ-CP on speeding up public investment disbursement, and issue a plan to implement Resolution 115/2020/QH14 dated June 19, 2020, on piloting financial and budget policies specifically designed for Hanoi. The city will take the initiative in implementing the revised Construction Law 62/2020/QH14 to ensure project pace.

Speaking at a recent online meeting on public investment disbursement between the Prime Minister and central and local authorities, Suu proposed that the government and relevant ministries and agencies ease difficulties faced by a number of official development assistance (ODA) projects in the city.

He suggested that the government and the Ministry of Planning and Investment adopt guidelines swiftly for public investment in 2021 and the 2021-2025 period.

The Ministry of Finance is expected to borrow 20 million euros for the urban railway line No. 3 project connecting the Nhon and Hanoi Railway Station, and approve credit for the Yen Xa wastewater treatment project in accordance with the loan agreement signed with the Japan International Cooperation Agency (JICA) and loan management regulations of the state and donors.

Prime Minister Nguyen Xuan Phuc praised Hanoi Party Committee Secretary Vuong Dinh Hue for personally visiting project sites and forming a special working group to deal with problematic projects. Chairwoman of the Hanoi People’s Council Nguyen Thi Bich Ngoc said the city’s public investment during 2016-2020 was very important for the development of the city and the country, accounting for 10 percent of the country’s public investment funds. At this time, public investment would help boost economic growth, support enterprises and create more jobs, she said.

Dan Linh

See more news

Measures needed to sustain FDI growth trend: expert

09:25 | 12/05/2023 Economy

Foreign investors still put their trust in the Vietnamese economy, but it is important to take measures for sustaining the upward trend in foreign direct investment (FDI), an expert has said.

Vietnam actively contributes to ASEAN's economic priorities

09:33 | 10/05/2023 Economy

Vietnam has made positive contributions to materialising economic priorities of ASEAN in 2023, Chairman of the ASEAN Business Advisory Council 2023 (ASEAN-BAC) Arsjad Rasjid said in a recent media interview ahead of the 42nd ASEAN Summit slated for May 9-11 in Labuan Bajo, Indonesia.

Vietnam wants private sector to become driving force for economic growth

09:00 | 07/05/2023 Economy

Vietnam will focus on developing its private sector to turn it into an important driving force for the socialist-oriented market economy, contributing to rapid and sustainable socio-economic development and improving the economy's self-reliance.

Newly registered businesses peak in April

15:03 | 04/05/2023 Economy

The number of new businesses set a record high in April at 15,967, according to the General Statistics Office of Vietnam.

OECD forecasts Vietnam’s economic growth at 6.5 percent this year

14:00 | 01/05/2023 Economy

The Organisation for Economic Cooperation and Development (OECD) has forecast that Vietnam’s economy will grow firmly, with its GDP projected at 6.5% in 2023 and 6.6% next year, according to an economic survey announced at a ceremony in Hanoi on April 26.

Low Q1 GDP growth affects annual 2023 target

06:00 | 27/04/2023 Economy

(VEN) - Vietnam’s gross domestic product (GDP) grew 3.32 percent in the first quarter of 2023 compared with the same period last year, far below the growth scenario presented in Government Resolution 01/NQ-CP. However, this was an encouraging result in the context of very low or even negative economic growth faced by other countries in the region and worldwide.

Inflation under pressure due to potential hikes in electricity prices

13:19 | 25/04/2023 Economy

At present, the Ministry of Industry and Trade is set to submit a scheme for increasing power prices, which have been kept unchanged since 2019, but that has put state utility Electricity of Vietnam (EVN) into huge financial losses.

Measures sought to promote northern key economic growth

08:15 | 22/04/2023 Economy

Measures to promote renovation and make breakthrough development for the northern key economic region were discussed at the recent economic-financial forum 2023 held recently in Hai Phong city.

Vietnam’s green economy expected to reach 300 billion USD by 2050

16:06 | 19/04/2023 Economy

Vietnam has set a target of increasing its green economy's contribution to GDP from 6.7 billion USD in 2020 to 300 billion USD by 2050, which requires drastic and breakthrough steps, Minister of Planning and Investment Nguyen Chi Dung has said.

IMF expert considers Vietnam bright spot in world economy

11:05 | 17/04/2023 Economy

Vietnam’s 8% growth in 2022 was a bright spot of the region and the world, said Daniel Leigh, head of the World Economic Studies division in the International Monetary Fund (IMF)'s Research Department, which produces the World Economic Outlook (WEO).

Latest Most Read

Important: Multi-target monetary policies needed

06:00 | 02/06/2023 Finance-Banking

(VEN) - According to Deputy Governor of the State Bank of Vietnam (SBV) Pham Thanh Ha, the SBV’s monetary policy management has never been as difficult as it is now due to the global economic changes, while the bank must not make any mistakes upon policy issuance and application.

Australian state of Queensland promotes trade with Vietnamese enterprises

16:30 | 01/06/2023 Trade

In mid-May 2023, Trade and Investment Queensland (TIQ) organized an inbound Mission to the North of Queensland, Australia for businesses around the world to visit horticultural farms, manufacturing facilities for agricultural products, and seafood exporters.

Amway Vietnam honored Top Industry 4.0 Vietnam - I4.0 Awards

09:41 | 01/06/2023 Companies

Amway Vietnam – a global brand in the field of health and beauty care was honored to receive the Top Industry 4.0 Vietnam - I4.0 Awards in the Science, Technology and Innovation Enterprise category.

Vietnamese firms participate in biggest food exhibition in RoK

09:09 | 01/06/2023 News and Events

More than 30 Vietnamese businesses are showcasing their products at a food exhibition in the Republic of Korea (RoK), which opened on May 30.

Favourable visa policy urged to draw foreign tourists to Việt Nam

06:00 | 01/06/2023 Tourism

Last year, Việt Nam welcomed more than 3.66 million foreign visitors or 73 per cent of the target.

Central bank eases credit crunch, boosts growth

06:00 | 22/05/2023 Finance-Banking

(VEN) - The banking sector has adopted a series of mechanisms and policies in recent months to help businesses and customers restructure debt repayment and shore up the local bond market.

Hanoi accelerates public investment disbursement

14:00 | 18/05/2023 Investment

(VEN) - Hanoi has 238 ongoing public investment projects, with key works of the 2021-2025 period maintaining their set schedules.

Vietnam’s R&D thrives

06:00 | 18/05/2023 Science - Technology

(VEN) - The successful application of scientific research results in the field of mechanical manufacturing has affirmed the capacity and role of science and technology (S&T) organizations in integration and development.

Vegetable, fruit exports: A sweet and sour challenge

06:00 | 20/05/2023 Vietnam and EU

(VEN) - Increasing world demand and the advantages of Vietnamese fruits and vegetables create vast potential for exports. However, stringent requirements of international market, especially regarding origin traceability and food safety, are confronting growers and exporters with majorThe 50th biggest fruit and vegetable exporter to the EU challenges.

New difficulties for textile, garment exports to Canada

06:00 | 21/05/2023 Vietnam and other regions

(VEN) - Canada will eliminate all remaining import duties on Vietnamese textile and garment products this year in accordance with the Pacific Rim trade deal, but the benefits could be offset by other challenges.

Multimedia

Video Longform Infographic Photo

favourable visa policy urged to draw foreign tourists to viet nam

Favourable visa policy urged to draw foreign tourists to Việt Nam

06:00 | 01/06/2023 Tourism

Last year, Việt Nam welcomed more than 3.66 million foreign visitors or 73 per cent of the target.

viet nam received 46 million foreign visitors in first five months over half the years target

Việt Nam received 4.6 million foreign visitors in first five months, over half the year’s target

14:38 | 30/05/2023 Tourism

Việt Nam sets sight on eight million foreign tourists this year, but the target was made before China officially announced its reopening in early February and reallowed sending group tours to Việt Nam in mid-March.

International festival provides platform to young musicians

06:00 | 30/05/2023 Lifestyle

Monsoon' festival, one of the most anticipated music events in Việt Nam, will be held in Hà Nội from October 14 to 22. The festival founder and director, Quốc Trung, discusses the festival's return after a three-year hiatus.

bat trang ancient pottery exhibited at viet nam national museum of history

Bát Tràng ancient pottery exhibited at Việt Nam National Museum of History

06:00 | 28/05/2023 Lifestyle

A unique collection of Bát Tràng pottery artefacts dating from the 14th to the 20th century are being introduced to the public at the Việt Nam National Museum of History.

Domestic audiences experience European cinema at film festival

09:05 | 26/05/2023 Lifestyle

They include multiple award-winning entries set across a range of spatial-temporal contexts.

Policy

Deputy PM urges acceleration of electricity licensing for finished wind, solar power projects

10:06 | 25/05/2023 Policy

Deputy Prime Minister Tran Hong Ha has requested the Ministry of Industry and Trade to accelerate the process of issuing electricity licenses for wind and solar power projects that have been completed but have not yet been put into operation.

Specific mechanisms, policies needed to drive HCM City’s growth

06:02 | 20/05/2023 Policy

Ho Chi Minh City needs to be supported by specific mechanisms and policies that are strong enough to remove bottlenecks faced by the city and enable it to create breakthrough developments, experts said.

PM approves National Power Development Plan VIII

14:20 | 17/05/2023 Policy

Prime Minister Phạm Minh Chính has approved the National Power Development Plan VIII, which guides the development of power plants and power grids between 2021 and 2030.

Chip-based passports can be provided online, sent via post

07:00 | 13/05/2023 Policy

The Government’s National Public Service Portal has by now integrated services to facilitate people in issuing new and exchanging chip-based passports, and receiving them via post.

Industry & Trade

Việt Nam has major opportunities to engage in global Halal industry Deputy minister

06:00 | 31/05/2023 Industry

Deputy Minister of Foreign Affairs Phạm Quang Hiệu speaks to the media about strengthening international cooperation to develop the Halal industry in Việt Nam.

Cut on automobile registration fees to facilitate auto industry

14:33 | 30/05/2023 Industry

The Ministry of Industry and Trade supporting the reduction of automobile registration fees is considered a positive effect to the auto industry in the context of the automobile market facing many difficulties.

Suitable solutions needed for each sector

06:00 | 30/05/2023 Industry

(VEN) - Most industrial production sectors are facing difficulties; therefore, experts say, suitable solutions for different sectors are needed in order to solve the problems.

Fertiliser businesses see profit drop on ailing selling prices and rising costs

15:27 | 26/05/2023 Industry

Falling selling prices and rising costs have caused the profits of most fertiliser businesses to plunge, after recording high profits in the previous few years.

Investment

FDI enterprises urge investment environment improvement

06:00 | 01/06/2023 FDI

(VEN) - At an April-22 in-person meeting between Prime Minister Pham Minh Chinh and foreign investors, business and association representatives suggested that Vietnam further improve its investment environment.

Vietnam's five-month FDI rises sharply nationwide

13:03 | 29/05/2023 FDI

The total inflows of foreign investment in Vietnam this year to May 20, including new and added investment and contributions for share purchases by foreign investors, reached nearly 10.86 billion USD, down 7.3% year-on-year, but up 10.6 percentage points as compared with the figure in the first four months of this year, the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment reported.

Binh Phuoc’s potential introduced to Australian partners

10:13 | 26/05/2023 Investment

A seminar was held in Sydney on May 24 to introduce and popularise new investment opportunities in Binh Phuoc, a southern Vietnamese province of great potential, on the occasion of the 50th anniversary of Vietnam-Australia diplomatic ties.

Da Nang calls for investment in 10 logistics centre projects

14:57 | 23/05/2023 Investment

The People's Committee of central Da Nang City has announced a list of logistics projects calling for investment in the period until 2030.

Finance-Banking

Important: Multi-target monetary policies needed

06:00 | 02/06/2023 Finance-Banking

Dozens of commercial banks cut savings interest rates

09:31 | 30/05/2023 Finance-Banking

Dozens of commercial banks have simultaneously decided to reduce deposit interest rates from May 25, after the State Bank's decision to cut policy interest rates.

Central bank continues to reduce policy interest rates

06:12 | 27/05/2023 Finance-Banking

The State Bank of Vietnam (SBV) has announced two decisions to further reduce policy interest rates, which will become effective from May 25, 2023.

Nearly 2.3 billion USD in state capital saved in 2022: Gov't report

06:09 | 25/05/2023 Finance-Banking

Almost 53.9 trillion VND (2.29 billion USD) in state capital was saved in 2022 as reported by ministries, sectors, and localities, according to the Government.

Environment

PM urges stronger wildfire prevention measures amid strong heatwaves

06:00 | 28/05/2023 Environment

Prime Minister Phạm Minh Chính has urged stepping up wildfire prevention measures as heatwaves are scorching many localities nationwide, increasing the risk of wildfires.

Vietnam targets development of green, plastic waste-free tourism

06:00 | 28/05/2023 Environment

Vietnam is considered one of the largest contributors to marine plastic pollution globally, with the volume of plastic waste discharged into the sea ranging from 0.28 to 0.73 million tonnes a year, of which a big part comes from tourism activities.

Đồng Nai afforestation programme kicks off

06:00 | 27/05/2023 Environment

NGO Gaia Nature Conservation Center on Monday kicked off its annual afforestation programme at the Đồng Nai Culture and Nature Reserve to mark International Day for Biological Diversity.

New task force promotes innovation and financing for plastic waste reduction

14:30 | 26/05/2023 Environment

The Việt Nam National Plastic Action Partnership (NPAP) has launched a new task force to promote innovation and catalyse investment in effective solutions for reducing plastic waste and pollution in Việt Nam.

Science - Technology

Over 77,000 computers in Vietnam suffer data encryption in 7 months Bkav

16:29 | 30/05/2023 Science - Technology

More than 77,000 computers in Vietnam have suffered data encryption since December 2022, according to Bkav – a leading Vietnamese technology corporation that specialises in cyber security and software.

Hanoi hosts Vietnam - Asia DX Summit 2023

16:15 | 26/05/2023 Science - Technology

Deputy Prime Minister Tran Hong Ha chaired the opening session of the Vietnam - Asia DX Summit 2023 themed “Driving economic growth enabled by digital data mining and smart connectivity” in Hanoi on May 24.

Hanoi Transerco applies technology to improve public bus services

16:06 | 26/05/2023 Science - Technology

The application of technologies in managing and operation activities has been among prioritised solutions that the Hanoi Transportation Corporation (Transerco) has rolled out to improve the quality of its public bus services over the past years.

Hanoi aims to be national hub of technology transfer, development

15:59 | 26/05/2023 Science - Technology

Hanoi stands ready to coordinate with the Ministry of Science and Technology to pilot policies on innovation and science and technology development, thus turning the capital city into a hub of science, technology and innovation in the country, Vice Secretary of the municipal Party Committee Nguyen Van Phong has stated.

Society

New Zealand provides 40 full micro-credentials scholarships for Vietnamese learners

16:23 | 26/05/2023 Society

Following the success of the Micro-credentials Scholarship program in 2022, Education New Zealand (ENZ) announced 40 full scholarships exclusively for Vietnamese learners in 2023, with a total value of more than half a billion dong.

Mong Cai city imports electricity from China’s Dongxing

10:37 | 25/05/2023 Energy

The Mong Cai (Vietnam) - Dongxing (China) 110kV transmission line was completed and put into operation at 6 am on May 22, adding power supply to Mong Cai city in the northeastern province of Quang Ninh, according to the Mong Cai City Electricity.

Seminar discusses orientations for rapid and sustainable national development

07:15 | 22/05/2023 Society

Participants at a seminar in Hanoi on May 16 discussed three pillars of the nation’s rapid and sustainable development.

M&A to pick up in property market

07:00 | 19/05/2023 Property

HÀ NỘI — Domestic property developers are looking to sell assets and shares to deal with debts, restructure, maintain cash flow and keep operations going, according to industry experts.

Vietnamese Brands

• Tripadvisor highlights the sole hotel in Da Nang in the prestigious Travelers' Choice Best of the Best award

09:30 | 28/05/2023 Vietnamese Brands

Millions of travelers from around the world have voted Premier Village Danang Resort - a masterpiece by Sun Group on the shores of the East Sea - as one of the top 10 family-friendly hotels in Asia 2023 on Tripadvisor.

Pfizer Vietnam, VNVC sign MoU to protect public health

09:00 | 26/05/2023 Vietnamese Brands

Pfizer (Vietnam) Limited Company and Vietnam Vaccine Joint Stock Company (VNVC) on Wednesday (May 24) signed a memorandum of understanding (MoU) to partner on protecting public health by increasing the rate of proactive prevention of dangerous infections in the period of 2023-25.

Vietjet offers 50% discount on SkyBoss Business tickets

Hanoi accelerates public investment disbursement

See also

See more news

Multimedia