Public investment disbursement has been accelerated since the opening days of the year as it continues to be seen as an important driving force of economic growth this year, the Dau tu (Vietnam Investment Review) newspaper reported.

Speeding up the disbursement of public investment from the start of this year was an important solution to accelerate economic recovery amid the COVID-19 pandemic, Minister of Finance Dinh Tien Dung has said.

Minister of Planning and Investment Nguyen Chi Dung has asked ministries, central agencies, and localities to continue applying measures to speed up the disbursement of public investment capital, with the aim of completing 90% of disbursement planned for 2021 by the fourth quarter of the year.

Da Nang has appreciated the contributions and accompany of foreigners in the city in this tough year, and hoped to continue to receive more assistance from foreign individuals, organisations and businesses during the recovery process in the city and the central region as a whole, said Chairman of the municipal People’s Committee Le Trung Chinh.

Public investment will focus on key national projects with important roles in enhancing regional links and creating new drivers and room for economic growth, Minister of Planning and Investment Nguyen Chi Dung has said.

The State Capital Investment Corporation (SCIC) announced on January 14 that its pre-tax profit soared over 36% in 2020, hitting an estimated VND6.58 trillion (around US$286 million).

The capital city of Hanoi disbursed close to VND34.3 trillion (nearly US$1.49 billion) in public investment last year, representing 88.1% of the goal set by the government.

The disbursement of public investment was estimated at VND398 trillion (US$17.24 billion) as of the end of December, meeting 82.8% of the Government’s plan – the highest rate in the 2016-20 period, according to the Ministry of Planning and Investment.

The disbursement of State budget capital reached an estimated 91.1% of the plan set for the year and rose 34.5% year-on-year, the highest rate in the 2011-2020 period.

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.