Only 14% of capital had been disbursed by the end of May.
The disbursement of public investment from the State budget in the first five months of this year was estimated to reach VND190.6 trillion (US$7.44 billion), equal to 26.6% of the yearly target and 5% higher than the same period last year, according to the General Statistics Office (GSO).
VOV.VN - Prime Minister Pham Minh Chinh on May 2 signed a decision to establish six working groups to accelerate the disbursement of public investment capital at ministries, centrally-run agencies and localities.
The Government Office has issued the Notice No.262/TB-VPCP dated October 5, 2021 on the Prime Minister’s conclusions at the nationwide teleconference with ministries, centrally-run agencies and localities on stepping up the disbursement of public investment capital this year.
The Vietnamese Government continues to consider official development assistance (ODA) as an important capital source and allocate part of it for socio-economic development in the mid-term public investment plan, said Permanent Deputy Prime Minister Pham Binh Minh.
Only over VND220.7 trillion (US$9.7 billion) worth of public investment capital was disbursed by the end of August, or 40.6% of the plan assigned by the Prime Minister.
Minister of Planning and Investment Nguyen Chi Dung has said low disbursement of public investment capital amid the COVID-19 pandemic could waste resources and result in the loss of opportunities to create a driving force for economic development.
The agricultural sector has disbursed about VND3.52 trillion (US$152.98 million) of public investment in the first six months of 2021, completing 35.83% of its yearly target, according to the Ministry of Agriculture and Rural Development (MARD).
The Ministry of Agriculture and Rural Development (MARD) is likely to fulfil 11.4% of its yearly plan of public capital disbursement at the end of the first quarter of this year.
Despite slow disbursement of foreign loans, that of public investment has become faster, contributing to making the country’s positive economic growth target feasible for the year.