Deputy PM calls for measures to boost public investment disbursement

ABO/NDO - Deputy Prime Minister Vuong Dinh Hue has urged the concerned parties to accelerate the speed of public investment disbursement, which has seen slow progress in the past seven months.

Deputy PM Vuong Dinh Hue speaking at the conference (Photo: VGP).

The request was made at a meeting with several ministries and the leaders of Hanoi and Ho Chi Minh City on August 19.

According to the Ministry of Finance (MOF), total public investment disbursement was estimated at VND134.494 trillion (US$5.78 billion), equivalent to 31.32% of the target set by the parliament, the lowest level in recent years.

The disbursement rate of domestic funds was 35% while the rate for foreign funds was only 8.6%.

Deputy PM Hue criticised the Ministry of Planning and Investment (MPI) for being slow in advising the Prime Minister on public investment allocation and not reporting details of the delays and their solutions.

He urged the MPI to submit a report to the Prime Minister before the end of August on the plans to allocate all of the unallocated VND35 trillion (US$1.5 billion) and a report on transferring funds to projects in need of capital before October 10.

In the meantime, the MOF was asked to publicise the disbursement status of each unit and work with other agencies in fund allocation and loan adjustment.

An online nationwide meeting is expected to be held by the government on September 15 to discuss the issue.

(Source: NDO)