Public investment disbursement too low in first four months of 2019

SGGP

Disbursement of public investment capital was only VND68,548 billion (US$2.95 billion) from January to April this year, meeting 16.45 percent of the National Assembly target, according to the Ministry of Finance.


Ben Thanh-Suoi Tien metro line has run behind schedule because of capital shortage in HCMC

Ben Thanh-Suoi Tien metro line has run behind schedule because of capital shortage in HCMC

Reporting at a meeting presided over by deputy Prime Minister Vuong Dinh Hue on public investment disbursement in the first four months of 2019, the ministry added that disbursement rate of foreign direct investment (FDI) was 2.5 percent, much lower than 6.34 percent in the first four months of 2018.

The Vice Prime Minister has made decisions allocating investment funds worth VND367,394 billion ($15.8 billion) from the state budget to ministries, agencies and localities in 2019, meeting 85.5 percent of the National Assembly target.

At the meeting, the deputy PM required ministries, agencies and localities to speed up preparation work for project implementation, select contractors according to the law to soon start work on projects and take the initiative in solving difficulties to ensure construction progress.

He asked them to intensify inspection and handle violations in implementing public investment plan, make clear responsibilities of relevant individuals who intentionally slow the disbursement progress.

By Phan Thao – Translated by Hai Anh

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