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Wednesday, July 24, 2024

HCMC wants to speed up public investment disbursement

The Saigon Times

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HCMC – Nguyen Thi Le, chairwoman of the HCMC People’s Council, has urged the relevant agencies to expedite the disbursement of public investment capital as the city saw a lower-than-expected disbursement rate in the year to April.

Only VND147 billion in public investment capital for the city’s civil and industrial construction projects was disbursed between January and April, representing a mere 4% of the full-year target.

Speaking at a working session on May 9 with the Management Board for Industrial and Civil Engineering Construction and Investment Projects of HCMC over 2021-2025 investments,  Le said the sluggish disbursement was due to inadequate coordination between the city’s departments and agencies, particularly during the land clearance stage.

She stressed the role of local investors, in addition the competency of contractors and consultancy service providers, in keeping the projects’ implementation on schedule.

Around VND70 trillion has been allocated to HCMC to fund public investment projects this year.

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