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Sunday, June 16, 2024

HCMC disburses VND8,200 billion in public investment capital

The Saigon Times

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HCMC – HCMC had disbursed VND8,236 billion in public investment capital in the year to May 12, representing 20% of the full-year target set by the city government.

In the first four months of the year, the city’s total disbursements were VND2,511 billion, accounting for 6% of the city’s 2023 plan for VND41,526 billion or 3.6% of the VND70,500-billion target allocated for the city by the prime minister.

But in May alone, the city has disbursed more than VND5,600 billion to pay compensation for households and organizations affected by the HCMC Beltway No. 3 project.

The city’s public investment capital disbursements in the year to May 12 had met 12% of the objective set by the prime minister for HCMC this year. The city wants to increase the disbursement rate to 28% of the year’s target by the end of June.

Of the VND70,500-billion target for public investment approved by the prime minister, VND55,225 billion will come from the city’s own budget and VND15,293 billion from the central State budget.

The city has made efforts to accelerate disbursement to meet 95% of the total public investment goal. Therefore, 13 working groups have been established to inspect 38 major projects in the city to make sure their execution is on track.

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