Initiative speeds up investment disbursement

(VEN) - Prime Minister Pham Minh Chinh has asked ministries, sectors and localities to ensure the quality and effectiveness of public investment projects and achieve a higher disbursement rate in 2023.
At an online national conference held in late February to discuss accelerating the disbursement of public investment capital, PM Chinh explained that disbursement is very important for resolving problems plaguing transport infrastructure, education, culture, healthcare and society, and increasing manufacturing capacity to promote quick recovery and sustainable development.

Public investment disbursement also contributes to the implementation of fiscal, monetary and other policies to maintain macroeconomic stability, control inflation, promote growth and ensure major balances of the economy.

PM Chinh has set a target of 95 percent disbursement of the total VND711 trillion of public investment earmarked for 2023. This is a major challenge given the addition of VND130 trillion in public investment earmarked for 2023 compared to 2022, when the disbursement rate reached more than 93.42 percent against 95.11 percent in 2021.

Initiative speeds up investment disbursement
Public investment disbursement helps unblock transport infrastructure bottlenecks

Do Thanh Trung, Director of the Ministry of Planning and Investment’s Department of National Economic Issues, reviewed the favorable conditions for public investment disbursement. Specifically, authorities at all levels, sectors and localities participated in the preparation of public investment projects, improving the capacity of the personnel for each project.

As soon as the National Assembly issued Resolution 43/2022/QH15 on fiscal and monetary policies to support socioeconomic recovery and development, the Prime Minister assigned specific public investment tasks for 2023 to ministries, sectors and localities before December 31, 2022, enabling them to take the initiative in accelerating disbursement.

According to Trung, the amount of public investment capital earmarked for 2023 will be used to implement not only medium-term projects of the 2021-2025 period, but also national target program projects delayed during the last two years, and the socioeconomic recovery and development program.

Economists also pointed out factors challenging public investment disbursement, including slow site clearance, disrupted material supplies, increased material prices, and ineffective performance of project leaders.

To achieve the 2023 public investment disbursement target set by the government, ministries, sectors and localities are being advised to pay greater attention to the preparation of projects so as to take the initiative in dealing with site clearance problems, material supply disruptions and increased input prices, and thus minimizing risks during the implementation process.

Government Resolution 77/NQ-CP requires ministries and sectors as well as central and local authorities to strengthen the role and responsibility of public investment project leaders in resolving problems related to land, natural resources, and public investment policies and mechanisms.

Nguyen Hoa

See also

PM orders acceleration of public investment disbursement for 2024

PM orders acceleration of public investment disbursement for 2024

The Government Office on July 9 issued an official dispatch on Prime Minister Pham Minh Chinh’s directions requiring the acceleration of public investment disbursement for 2024.
Joint efforts needed to speed up public investment

Joint efforts needed to speed up public investment

(VEN) - Although public investment disbursement usually increases sharply during the yearend period, according to experts and management staff, fulfilling the 2023 target has become a challenging task, as there is only one month left, while 35 percent of the allocated capital remains undisbursed. Duong Ba Duc, Director of the Ministry of Finance’s Department of Investment, spoke with Vietnam Economic News’ Ngan Thuong about solutions to promote the disbursement of public investment capital.
Public investment: Key to growth

Public investment: Key to growth

(VEN) - According to the World Bank (WB), effective implementation of support programs and major public investment projects is the key to growth in the short and long term.
Public investment disbursement crucial for recovery

Public investment disbursement crucial for recovery

(VEN) - A Purchasing Managers Index (PMI) report by S&P Global shows that the Vietnamese manufacturing sector’s PMI reached only 46.2 points in June, up 0.9 point from May but remaining below the 50-point level for the fourth month in a row. This shows that the industry’s health continued to decline.

See more news

Hanoi, HCM City record highest disbursement of public investment capital in January

Hanoi, HCM City record highest disbursement of public investment capital in January

Hanoi and Ho Chi Minh City - the country's economic locomotives - recorded the highest disbursement of public investment capital in January, with nearly 2.7 trillion VND (117 million USD) and more than 1.63 trillion VND, respectively, reported the General Statistics Office.
Son La Province enhances capital disbursement

Son La Province enhances capital disbursement

(VEN) - The Industry Promotion Center of the northern mountainous province of Son La is accelerating the disbursement of capital allocated for industry promotion projects in the province.
Red River Delta attracts logistics investment

Red River Delta attracts logistics investment

(VEN) - Localities in the Red River Delta have been attracting growing investment in logistics facilities, transport infrastructure, warehousing and port services catering for import-export activities.
Officials urge greater state investment in industry promotion

Officials urge greater state investment in industry promotion

(VEN) - State capital for industry promotion remains modest, while funding for industry promotion in general has decreased considerably due to COVID-19 over the past two years.
Hau Giang Province expands industrial zones to meet demand

Hau Giang Province expands industrial zones to meet demand

(VEN) - The Hau Giang Province Department of Industry and Trade has drafted a long-term industrial zone (IZ) development plan to shift production facilities from residential areas to IZs and minimize environmental pollution.
Craft village development facilitated

Craft village development facilitated

(VEN) - Industry promotion programs have spent a considerable amount of capital to help craft villages develop production and expand markets.
View more
Latest Most Read
Seven strategic directions to lead the nation into a new era

Seven strategic directions to lead the nation into a new era

In the special feature on the new era—the era of the nation's rise—on October 31, 2024, Party General Secretary To Lam outlined seven strategic directions for the country to embark on this new phase of national development.
WB, Switzerland help boost Viet Nam’s sustainable urban development

WB, Switzerland help boost Viet Nam’s sustainable urban development

The Swiss Government and the World Bank (WB) on Monday signed an agreement to promote green and resilient growth in Viet Nam’s major cities.
Finance ministry proposes extending environmental tax cut on fuel products in 2025

Finance ministry proposes extending environmental tax cut on fuel products in 2025

The Ministry of Finance has proposed to continue 50 percent reduction in environmental tax on gasoline (excluding ethanol), oil, and lubricants until the end of 2025 to spur economic growth.
Workshop looks to address environmental management issues in industrial areas

Workshop looks to address environmental management issues in industrial areas

The State Audit Office of Vietnam (SAV) hosted a workshop in Hanoi on November 5, bringing together top auditors from ASEAN member states to share experience in handling environmental management challenges in industrial clusters and craft villages.
PM visits President Ho Chi Minh relic site in Kunming

PM visits President Ho Chi Minh relic site in Kunming

Yunnan - Prime Minister Pham Minh Chinh and his entourage offered flowers in tribute to President Ho Chi Minh at a historical relic site dedicated to the late Vietnamese leader in Kunming city, Yunnan province on November 5, as part of their ongoing working visit to attend the 8th Greater Mekong Sub-region (GMS) Summit and hold bilateral activities in China.
seven strategic directions to lead the nation into a new era

Seven strategic directions to lead the nation into a new era

In the special feature on the new era—the era of the nation's rise—on October 31, 2024, Party General Secretary To Lam outlined seven strategic directions for the country to embark on this new phase of national development.
delicacy of ha nois autumn

Delicacy of Hà Nội’s autumn

Cốm (young rice) is a delicacy of Hà Nội’s autumn, from which many popular dishes have been created, but it is also being developed in new ways by younger cooks.
vietnam cuba traditional solidarity special friendship

Vietnam-Cuba traditional solidarity, special friendship

Vietnam and Cuba continue to engage in regular bilateral contacts and exchanges at various levels, particularly at the highest levels. The robust political and diplomatic relationship has facilitated significant economic and trade cooperation between the two nations. Currently, Vietnam ranks as Cuba's second-largest trade partner in Asia and stands as the largest foreign investor from the Asian region in Cuba.
vietnam expands fta network

Vietnam expands FTA network

As of October 2024, Vietnam has signed and implemented 17 Free Trade Agreements (FTAs) and is negotiating two more. Expanding its FTA network underscores Vietnam’s commitment to economic integration, offering substantial opportunities to deepen its role in global value chains, boost exports, drive GDP growth, and enhance institutional frameworks.
vietnam qatar friendship and multifaceted cooperation

Vietnam – Qatar friendship and multifaceted cooperation

Prime Minister Pham Minh Chinh, his spouse and a high-ranking delegation of Vietnam are paying an official visit to Qatar. This is the first official visit by a Vietnamese Prime Minister to Qatar in 15 years.
Finance ministry proposes extending environmental tax cut on fuel products in 2025

Finance ministry proposes extending environmental tax cut on fuel products in 2025

The Ministry of Finance has proposed to continue 50 percent reduction in environmental tax on gasoline (excluding ethanol), oil, and lubricants until the end of 2025 to spur economic growth.
NA deputies call for solutions to ensure the feasibility of drug prevention and control programme

NA deputies call for solutions to ensure the feasibility of drug prevention and control programme

Việt Nam faces not only the risk of becoming a transit hub but also the potential of evolving into a production and distribution centre for international drug trafficking.
15th NA’s 8th session to further discuss legislative, inspection work next week

15th NA’s 8th session to further discuss legislative, inspection work next week

The third working week of the 15th National Assembly (NA)’s 8th session will, between November 4 and 9, address several key issues, focusing primarily on legislative and inspection activities.
Developing education, training to serve new era of nation: PM

Developing education, training to serve new era of nation: PM

PM Chính said the Party and State consistently pay attention to education and training, which are identified as a leading policy.
Efforts to bring electricity to remote villages of Ha Giang Province

Efforts to bring electricity to remote villages of Ha Giang Province

The northern province of Ha Giang has complex terrain and a sparsely populated community, which poses many challenges to infrastructure investment, particularly in bringing electricity to remote mountainous villages. However, thanks to the efforts of local authorities and the electricity sector, Ha Giang Province is gradually realising the goal of providing electricity to all highland villages.
Vietnamese F&B industry works to catch up with green consumption trend

Vietnamese F&B industry works to catch up with green consumption trend

By promoting the use of green materials and technologies in production, Vietnam will win the world food and beverage market which is switching to the green consumption trend, according to experts.
PM calls for Qatar

PM calls for Qatar's support for energy development in Việt Nam

The Vietnamese leader made the call at a reception for Saad bin Sherida Al Kaabi, Minister of State for Energy Affairs of Qatar and CEO of Qatar Energy - a state-owned oil and gas corporation in Qatar and one of the world's leading LNG producers.
Efforts made to create breakthrough in Vietnam

Efforts made to create breakthrough in Vietnam's automobile industry

The automobile industry is expected to be a locomotive that propels the development of other industries. However, after 30 years, it continues to face numerous challenges. After several missed opportunities, many people hope that the new strategy for the development of the automobile industry will provide additional support for a breakthrough.
Foxconn to invest US$80 million in Bắc Giang for chip manufacturing expansion

Foxconn to invest US$80 million in Bắc Giang for chip manufacturing expansion

Foxconn's Shunsin Technology Việt Nam is seeking an environmental permit for a US$80 million chip manufacturing project in Bắc Giang province.
Da Nang to invest additional 16 million USD into software park

Da Nang to invest additional 16 million USD into software park

The People's Council of Da Nang city has approved the adjusted pre-feasibility study report for the development of Software Park No 2, proposed by the municipal People's Committee.
PM receives heads of leading investment firm, authority of Qatar

PM receives heads of leading investment firm, authority of Qatar

Vietnamese Prime Minister Pham Minh Chinh have received leaders of the JTA International Investment Holding and the Qatar Investment Authority (QIA) in Doha as part of his official visit to the Middle Eastern country.
Forum suggests suitable orientations for green development strategy in Lam Dong

Forum suggests suitable orientations for green development strategy in Lam Dong

An investment forum entitled “Lam Dong Green Plateau — Sustainable Green Transformation: Opportunities for Investors” took place in Da Lat City, in the Central Highlands province of Lam Dong, on the afternoon of October 30.
Krungsri proposes accelerating purchase of 50% of SHBFinance’s charter capital

Krungsri proposes accelerating purchase of 50% of SHBFinance’s charter capital

Ayudhya Public Bank Limited (Krungsri), a member of Japan's MUFG Group, has proposed to the Saigon - Hanoi Commercial Joint Stock Bank (SHB) that it will speed up the acquisition of the remaining 50% of SHBFinance’s charter capital.
Finance ministry proposes two price management scenarios for year-end

Finance ministry proposes two price management scenarios for year-end

The Ministry of Finance has released two price management scenarios to control inflation until the end of the year.
Banking sector prioritises support for import-export firms

Banking sector prioritises support for import-export firms

Affordable bank credit has supported businesses in key sectors that drive the country’s economic growth, Nguyen Duc Lenh, deputy director of the State Bank of Vietnam’s Ho Chi Minh City office, told a conference on October 31.
Smart Banking 2024 workshop and exhibition held

Smart Banking 2024 workshop and exhibition held

While accelerating digital transformation, ensuring operational safety and information security is a priority. The remark was made by Nguyen Quoc Hung, Vice Chairman and General Secretary of the Vietnam Banks’ Association (VNBA) at the Smart Banking 2024 workshop and exhibition held in Hanoi on October 29.
Workshop looks to address environmental management issues in industrial areas

Workshop looks to address environmental management issues in industrial areas

The State Audit Office of Vietnam (SAV) hosted a workshop in Hanoi on November 5, bringing together top auditors from ASEAN member states to share experience in handling environmental management challenges in industrial clusters and craft villages.
More accurate forecasts at all levels needed to reduce coastal disaster risk

More accurate forecasts at all levels needed to reduce coastal disaster risk

Establishing different warning levels for natural disaster risks will help minimise damage and overcome the consequences of natural disasters.
Nearly-98-million-USD environment project inaugurated in Ninh Thuan

Nearly-98-million-USD environment project inaugurated in Ninh Thuan

The Phan Rang-Thap Cham city sub-project – part of the Coastal Cities Sustainable Environment Project funded by the World Bank Group was inauguarted in the south-central province of Ninh Thuan on November 2 with improved infrastructure works that can benefit 69,000 local residents.
Northern region to experience first cold weather of this winter

Northern region to experience first cold weather of this winter

A strong cold spell is expected to intensify around next Monday, bringing scattered rain and a likelihood that the northern region will experience its first snap of lower temperatures.
Technology “key” to attract FDI

Technology “key” to attract FDI

(VEN) - According to Nguyen Van Toan, Vice President of the Association of Foreign Investment Enterprises (VAFIE), apart from environmental factors, technology plays an important role, not only in economic development, but also in the race to attract foreign direct investment.
HCM City partners with Google for Education in digital transformation

HCM City partners with Google for Education in digital transformation

Tim Paolini, Director of Google for Education for Asia-Pacific and Middle East, had a working session with representatives of the Ho Chi Minh City People’s Committee on November 1 to discuss cooperation orientations for digital transformation in education.
Việt Nam develops

Việt Nam develops 'purely Vietnamese' generative AI

Many businesses in Việt Nam have quickly seized the opportunity and boosted investment to master the new technology.
Vietnam’s first semiconductor expo underway in HCM City

Vietnam’s first semiconductor expo underway in HCM City

The 2024 International Exhibition for Integrated Circuit and Semiconductor Industry (SEMICON VIETNAM), the first of its kind in the country, was opened in Ho Chi Minh City on October 31.
WB, Switzerland help boost Viet Nam’s sustainable urban development

WB, Switzerland help boost Viet Nam’s sustainable urban development

The Swiss Government and the World Bank (WB) on Monday signed an agreement to promote green and resilient growth in Viet Nam’s major cities.
VRA proposes over $7.2b for Lào Cai-Hà Nội-Hải Phòng-Quảng Ninh Railway project

VRA proposes over $7.2b for Lào Cai-Hà Nội-Hải Phòng-Quảng Ninh Railway project

The project aims to meet the growing demand for rail and to maximise the line’s capacity.
Eastern section of $1.23b southern expressway will soon be opened for use

Eastern section of $1.23b southern expressway will soon be opened for use

Construction of the 57.8-km Bến Lức-Long Thành expressway began in 2014, with capital estimated at over VNĐ31.3 trillion (US$1.23 billion).
Vietnam aims to produce innovative medicines

Vietnam aims to produce innovative medicines

The Ministry of Health has proposed a policy to encourage the transfer of new and innovative drugs, aiming to create more opportunities for patients.
190 businesses win Vietnam National Brand Award 2024

190 businesses win Vietnam National Brand Award 2024

A total of 359 products from 190 businesses were honoured with the National Brand Award 2024 at a ceremony held in Hanoi on November 4 evening.
Vietnamese AI firms have many chances of development

Vietnamese AI firms have many chances of development

Demand in the domestic market along with a series of new regulations and policies are supporting for the Vietnamese AI start-up community to develop.
Cooperatives play significant role in OCOP product development

Cooperatives play significant role in OCOP product development

(VEN) - Vietnam has so far developed over 14,000 3-star or higher-ranking OCOP products. Specifically, 72.1 percent of the products are 3-star, 25.8 percent are 4-star, and 2.1 percent are 5-star or potential 5-star products).
Cơ Tu ethnic’s farm produce debuts in supermarket system

Cơ Tu ethnic’s farm produce debuts in supermarket system

Organic farm produce from the Cơ Tu ethnic group in the central province’s Tr’hy commune has been introduced at the Mena Gourmet Market in HCM City, marking a positive move for the community-based sustainable agriculture production among ethnic community in Tây Giang district.
tcty-dau-khi-vn-pv-power-2022
Calligraphy exhibition highlights literary masterpieces

Calligraphy exhibition highlights literary masterpieces

The exhibition features 18 writers from all over the country. Each has a different profession, but they all share a love of Vietnamese calligraphy and a desire to spread this passion for art to as many people as possible.
VN int’l fashion week Fall/Winter 2024 prepares to open

VN int’l fashion week Fall/Winter 2024 prepares to open

Sixteen international and Vietnamese fashion designers and brands will display their latest collections at the Aquafina Việt Nam International Fashion Week (AVIFW) Fall/Winter 2024 held in Hà Nội from November 13-16.
Delicacy of Hà Nội’s autumn

Delicacy of Hà Nội’s autumn

Cốm (young rice) is a delicacy of Hà Nội’s autumn, from which many popular dishes have been created, but it is also being developed in new ways by younger cooks.
$10-billion national target programme on cultural development officially proposed to parliament

$10-billion national target programme on cultural development officially proposed to parliament

By 2030, Việt Nam will work to restore 95 per cent of special national relics (equivalent to about 127 relics) and 70 per cent of national relics (equivalent to about 2,542 relics). The cultural industry is expected to contribute seven per cent to the country's GDP.
Time Out lists Vietnam among Top 5 Memorable Christmas Escapes in Asia

Time Out lists Vietnam among Top 5 Memorable Christmas Escapes in Asia

British magazine Time Out has unveiled a list of the Top 5 Memorable Christmas Escapes in Asia, with Vietnam and its stunning natural beauty and a distinctive heritage being placed in second position.
Foreign travellers

Foreign travellers' interest in northern regions still strong after typhoon

Digital travel platform Agoda has recently revealed that traveler interest in key northern regions of Việt Nam has remained encouraging following the damage wrought by Typhoon Yagi, which made landfall on September 7.
Ninh Bình Festival to boost historical heritages of VN’s former capitals

Ninh Bình Festival to boost historical heritages of VN’s former capitals

From November 24 to 30 in Ninh Bình City and Hoa Lư District – the former capital of Việt nation from 968 to 1009 - the festival aims to portray glorious historical milestones and 'decode' the cultural values of the ancient capital.
Halal tourism: tackling religious and cultural differences

Halal tourism: tackling religious and cultural differences

Developing a domestic Halal industry catered to Muslims has been actively promoted by the Vietnamese Government in recent years. Apart from getting Vietnamese food products to meet halal standards to enter Islamic countries, halal tourism is also a new market that experts say Việt Nam should be exploring.
Mobile Version