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Wednesday, June 19, 2024

HCMC has one of lowest public investment disbursement rates in Vietnam

The Saigon Times

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HCMC – HCMC is one of the five cities and provinces in the country that have the lowest rates of public investment disbursement, according to data from the Ministry of Finance.

The city has in the year to date met only 30% of the public investment disbursement target, below the national average.

Phan Van Mai, chairman of the People’s Committee of HCMC, identified land clearance as a significant obstacle to disbursement. Despite some improvements, the city has lagged in its rate of public investment disbursement.

The four others are Tra Vinh, Vinh Long, Soc Trang and An Giang provinces.

Tran Quoc Phuong, deputy minister of Planning and Investment, said that the disbursement rate in the first nine months of this year has edged up by 4.68%, or over VND110 trillion, compared to the same period last year.

Data from the General Statistics Office showed that public investment in the third quarter is estimated at nearly VND183 trillion, which met 25.3% of the full-year plan and grew by 30.1% against the second quarter, and 27.3% year-on-year.

Despite these figures, as many as 42 ministries and state agencies and 26 localities have disbursement rates below the national average of 51.38%.

Meanwhile, eight other ministries and state agencies and 27 localities have achieved high disbursement rates, exceeding 55%. Long An Province took the lead with a disbursement rate of 93.85%, followed by Binh Duong Province with 91.28% and Dong Thap Province with 84.06%.

Tien Giang Province, Ba Ria-Vung Tau Province and Haiphong City also posted high disbursement rates, at 83.49%, 81.52%, and 81.02%, respectively.

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