HCMC speeds up disbursement of public investment capital

SGGP
The HCMC’s disbursement of public investment capital totaled VND11,443 billion by September 15, accounting for 43 percent of the Government's yearly target. Some among them, including VND9,591 billion from the city’s State budget, VND1,210 billion from the Central budget and VND641 billion from official development assistance (ODA) capital.

Secretary of HCMC Party Committee Nguyen Thien Nhan attends the teleconference. (Photo: Sggp)

Secretary of HCMC Party Committee Nguyen Thien Nhan attends the teleconference. (Photo: Sggp)

The announcement was issued in a teleconference that was chaired by Prime Minister Nguyen Xuan Phuc on September 26 with the participation of officials of all ministries, sectors and 63 provincial-level localities.
Speaking at the national meeting via teleconference, deputy chairman of HCMC People's Committee Tran Vinh Tuyen said that the municipal authorities have allocated capital from the State budget for projects that have been granted with investment licenses from October 31, 2018 onward; made adjustment of plans for foreign investment in 2019 that use ODA fund and foreign preferential loans, not exceeding the disbursement rate of public investment capital in 2019 through the Central budget.
According to the People’s Committee of HCMC, obstacles leading to low disbursement rates include low site clearance, investment procedures, rearrangement of project management boards, processes and requirements for fund allocation and disbursement.
In order to speed up disbursement of public investment capital, the city’s authorities will focus on main tasks, such as managing and defining responsibility of leaders of units and departments, managing public investment, applying information technology in implementation of public investment projects, giving power to units and departments, and organizing a conference reviewing the disbursement of public investment capital in October.
HCMC speeds up disbursement of public investment capital ảnh 1 Secretary of HCMC Party Committee Nguyen Thien Nhan talks with an investor  (Photo: SGGP)

By QUOC HUNG - Translated by Kim Khanh

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