HCMC – HCMC must disburse nearly VND600 billion in public investment funds each day in the rest of the year to meet its 2025 target, the city government said at a meeting on September 16.
The city has so far disbursed VND53.86 trillion, or 45.2% of the annual plan assigned by the Government, according to a report from the HCMC Department of Finance.
After an administrative restructuring earlier this year, HCMC was tasked with disbursing VND118.95 trillion in 2025. To reach that goal, it needs to speed up disbursement to an average of VND590 billion per day in the remaining three months.
Nguyen Cong Vinh, director of the Department of Finance, proposed that the city People’s Committee instruct agencies to closely monitor the implementation and disbursement of 34 major projects, including 24 classified as key projects.
He noted that several critical infrastructure works, such as the An Phu intersection and the Tham Luong-Ben Cat-Rach Nuoc Len canal environmental improvement project, are still progressing slowly, which in turn is affecting the disbursement of public investment capital.
Nguyen Van Duoc, chairman of the HCMC People’s Committee, said the city had posted strong progress in the first half of the year, with disbursement exceeding 40% of the plan, the highest in five years.
However, the progress slowed in July and August before picking up slightly in the past two weeks, when an additional VND2.33 trillion was released, more than the combined result of the previous two months.
He urged authorities to accelerate site clearance and closely monitor projects with large funding allocations, stressing that public investment is critical to achieving the city’s 8.5% gross regional domestic product (GRDP) growth target. To reach that goal, HCMC must expand by 10.3% in the second half of the year.
