Disbursement of public investment in the first six months of 2020 amounted to nearly VND156 trillion (US$6.73 million), fulfilling 33.1% of the plan set by the National Assembly and the Prime Minister, higher than the 28.56% recorded in the same period last year, according to the Ministry of Planning and Investment.
Prime Minister Nguyen Xuan Phuc has agreed with the Ministry of Planning and Investment (MPI)’s proposal on a national online conference on speeding up public investment disbursement in 2020, which is set to take place late April.
The State Treasury disbursed a total of 107.7 billion VND (4.6 million USD) as investments in the first half of 2019, equivalent to only 29.7 percent of the set target.
VOV.VN - Prime Minister Nguyen Xuan Phuc has requested that ministries, sectors, and localities make concerted efforts to fully disburse public investment capital as allocated.
The Transport Ministry disbursed 76 percent of the sum assigned by the Government in 2018, the highest rate recorded in the past three years. The rate was also higher than the national average of 66.35 percent.
Capital disbursement of foreign direct investment (FDI) projects stood at US$15.1 billion as of October 20, up 6.3% year-on-year, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.
The southern province of Dong Nai lured more than US$980 million in 120 foreign direct investment (FDI) projects in the first seven months of 2018, equivalent to 98% of its annual plan.
Deputy Prime Minister Vuong Dinh Hue on May 24 asked the Ministry of Health, Ministry of Education and Training, and Ministry of Culture, Sports and Tourism to quickly address their slow disbursement of public investment.
VOV.VN - The Republic of Korea (ROK) is the largest foreign investor present in Vietnam with investment capital of US$355.6 million, accounting for 28.3% of the country’s total foreign direct investment (FDI).
The Government should limit or temporarily stop issuing new Government bonds during the remaining months of the year while waiting for the improvement of public investment disbursement.
Vice Chairman of the National Assembly Phung Quoc Hien has advised caution in amending the Law on Public Investment, saying that adjustments are necessary but must not be made hastily, lest the legal system be disrupted.
Deputy Prime Minister Vuong Dinh Hue was anxious about the slow allocation and disbursement of public investment in the first half of the year and demanded clarifying the responsibility of related officials and agencies.
Vietnam is attracting a large amount of FDI, but the Ministry of Planning and Investment (MPI) called attention to the quality of the capital and the speed at which it is disbursed, instead of the registered amount.
Japan is expected to make strong investment in Vietnam in 2017, according to Cong Thuong (Industry & Trade) newspaper.
The State Treasury of Vietnam conducted four auctions at the Hanoi Stock Exchange for VND10.032 trillion (US$442.72 million) of Government bond as of January 31, according to the Ministry of Finance.
With a level created by World Trade Organisation (WTO) membership, Vietnam has witnessed a boom in foreign direct investment (FDI) and a stable rise in disbursed amounts of the capital.
The restructuring of State-owned enterprises (SOEs) in the first nine months of this year failed to meet the set target, with 49 SOEs having their equitisation plans approved in the period, said the Ministry of Finance.
More than VND28 trillion (US$1.25 billion) was disbursed from the VND30 trillion housing stimulus package up till the end of August, according to the Ministry of Construction.
Foreign Direct Investment (FDI) hit US$14.36 billion in the first eight months of this year, up 7.7% year on year, according to the Foreign Investment Agency under the Ministry of Planning and Investment.
It is expected that large amounts of money will be pumped into circulation to obtain the ambitious target of 6.7% GDP growth rate. This has raised the fear that hot growth will bring high inflation back.