HCMC – The HCMC government is trying to boost public investment disbursement, with VND32.7 trillion to be disbursed for 84 projects in the final quarter of this year.
The information was given during a meeting to review the city’s socioeconomic performance in October held today, October 31, reported the Vietnam News Agency.
As of October 25, public investment disbursement in the city had reached a mere VND17.27 trillion, 21.8% of the annual target. While HCMC had plans to disburse VND21 trillion for 176 projects prior to September, only 8.54% of this amount was disbursed in the first nine months of the year.
Pham Trung Kien, deputy director of the HCMC Department of Planning and Investment, attributed the slow pace of disbursement to several factors, including legal changes and delays in obtaining necessary approvals from central authorities.
To expedite the process, the city government is streamlining administrative procedures and prioritizing key projects such as the Xuyen Tam Canal and the Doi Canal’s northern bank.
In November, the focus will be on disbursing VND7.7 trillion, with a major portion allocated to the Doi Canal project in District 8. The remaining VND25 trillion is slated for December, aiming for a 95% disbursement rate by year-end.
The city official noted that the overall disbursement rate remains low primarily due to delays in completing disbursement paperwork and shortage of construction materials.
The Tran Quoc Hoan-Cong Hoa connecting road project, though 78% complete in terms of construction, has a disbursement rate of only 21.1% due to compensation and resettlement issues. Similarly, the An Phu intersection project, 55% complete, has a disbursement rate of just 23%.
