Disbursement of public investment capital up 14.7% in November

Disbursement of investment capital sourced from State budget was estimated at VND48.5 trillion (US$2.13 billion) in November, up 14.7% over the previous month, according to the General Statistics Office (GSO).

However, the result represented a drop of 12.9% compared to the same period last year, the GSO reported, adding that in the first 11 months of 2021, VND367.7 trillion (US$16.18 billion) of the capital was disbursed, fulfilling 73.8% of the yearly target, down 8.7% year on year. The total included VND304.1 trillion of locally-managed capital.

In the January-November period, Hanoi led localities nationwide in disbursement work with VND36.9 trillion. It was followed by Ho Chi Minh City with VND17.7 trillion, Hai Phong VND2.3 trillion and Quang Ninh VND1.6 trillion.

In order to speed up the disbursement of public investment capital in the remaining of the year, Prime Minister Pham Minh Chinh has signed a decision to establish six working groups to accelerate the disbursement of public investment capital in 2021 at ministries, agencies and localities.

The working groups, headed by Deputy Prime Ministers and Ministers, are responsible for handling obstacles related to disbursement of public investment in 2021 in provinces and cities, ministries or agencies which recorded disbursement rates below 60% by October 31.

They are also tasked to identify the causes of the problems in the implementation of public investment projects, especially those using ODA capital and concessional loans from foreign investors as well as put forward solutions to speed up the disbursement and improve the efficiency of the capital.

The groups will also examine the responsibilities of leaders in directing and dealing with bottlenecks in the disbursement of public investment at each ministry, agency and locality.

Alongside, the Ministry of Planning and Investment has continued to review legal regulations related to public investment and disbursement to make timely adjustments, especially those on construction, land and resources.

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