HCM City disbursed nearly 23 trillion VN of public investment capital.

(Photo: Zing.vn)

According to Vietnam News Agency, the city had disbursed nearly 23 trillion VND (987.48 million USD) of public investment capital as of September 22, completing 54.2 percent of its yearly target, the Office of the city People’s Committee reported.

It has allocated more than 42 trillion VND of public capital for the year.

Despite impact of the COVID-19 pandemic, the city has still enjoyed positive results in public investment disbursement, with the disbursement amount and rate higher than those in the same period last year by 2.35 times and 1.89 times, respectively.

However, the results have yet to meet the requirements of the Government due to difficulties in ground clearance.

In order to speed up the work, the city People’s Committee has asked for advice from the Department of Planning and Investment on the adjustment and supplementation of the city public capital disbursement plan for 2020, as well as the revision of the middle-term plan for the 2016-2020 period.

The department has also been directed to give consultation to the People’s Council on reclaiming capital from projects that cannot disburse all assigned capital in favor of those needing more investment.

The municipal People’s Committee also urged localities to continue applying measures to speed up disbursement by shortening time for processing investment procedures./.

BTA