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.

VOV.VN - Finland will provide more than US$100 million for public investment projects in Vietnam, starting from 2021, under a bilateral Framework Agreement on the use of Public Sector Investment Facility (PIF) backed and guaranteed by the Finnish Government.

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 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.

With 100% of votes, members of the National Assembly (NA) Standing Committee on January 11 adopted a resolution on the switching of investment format of some component projects on the Eastern North-South Expressway project in the 2017-20 period, which failed to find investors through biddings.

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.