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Wednesday, June 26, 2024

Extra VND19,500 billion for public investment in HCMC approved

The Saigon Times

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HCMC – The HCMC People’s Council has endorsed the city People’s Committee’s proposal to add VND19,555 billion to the city’s 2021-2025 mid-term investment plan, funded by the local budget.

The additional capital will be used for two components of the HCMC Beltway No. 3 project.

The decision came yesterday, April 18, as the HCMC People’s Council convened its ninth meeting to review infrastructure investment projects in the city.

This year, major building initiatives in HCMC accounted for 77% of the city’s public investment capital.

The city leaders urged relevant officials and agencies to eliminate obstacles and speed up the disbursement rate, realizing this year-end’s target of 95%.

Still, the disbursement rate of the city reached a mere 4% in the first quarter of this year, according to Le Thi Huynh Mai, director of the Department of Planning and Investment.

Last December, the city People’s Council approved the 2023 public investment plan with a total spending of VND55,225 billion.

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