HCMC speeds up capital disbursement for public investment projects

SGGP
The office of the Ho Chi Minh City People’s Committee has asked leaders of relevant agencies and investors of projects to speed up capital disbursement for public investment projects.

The National Highway No. 50 expansion project through Binh Chanh District is one of the city's major project (Photo: SGGP)

The National Highway No. 50 expansion project through Binh Chanh District is one of the city's major project (Photo: SGGP)

The office of the city People’s Committee yesterday announced that disbursement reached over VND4.6 trillion (US$197 million) in the first five months of the year achieving 13.9 percent of capital plan, higher than the same period (with 9.8 percent).
Especially, 19 agencies and 9 districts have disbursed over 30 percent and 20 percent of total capital respectively.
With the aim to speed up the capital disbursement, the municipal People’s Committee requested leaders of relevant agencies and investors of projects to keep an eye on disbursement progress to soon remove hiccups relating to site clearance, compensation along the way of projects, especially ODA-funded projects.
City authorities asked to disburse at least 50 percent of the allocated capital by June 30, 2020. Those disbursing below 50 percent of the allocated capital must send a written report about the cause of the slow disbursement to the Department of Planning and Investment for submission to the People's COmmittee before July 5, 2020.
The Department of Planning and Investment and the Department of Finance, HCMC State Treasury will work together to assess disbursement results of each source of capital for each phase of a project and the total capital allocated for site clearance of each project.
They will assess the cause of slow disbursement to learn lessons for next projects and then propose detailed solutions for each case in order to speed up projects.
The Department of Natural Resources and Environment will provide consultation for the People’s Committee with the aim to implement the government’s Resolution 27 on March 9, 2020 on adopting pilot mechanism to shrink compensation time, resettlement and site handover.

By Quoc Hung - Translated by Uyen Phuong

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