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Wednesday, June 19, 2024

Transport Ministry disburses VND20.5 trillion for public investment projects

By T. Dao

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HCMC – The Ministry of Transport had disbursed VND20.5 trillion in public investment funds by the end of last month, reaching 34% of its annual target, showed data from the Ministry of Planning and Investment.

This disbursement rate is higher than the 30% achieved in the same period last year.

The Government allocated more than VND59 trillion for public investment in 2024. The Ministry of Transport received an additional VND2.57 trillion from the 2021 central budget surplus and is seeking approval for a further VND8.68 trillion from the 2023 surplus to finance key national and transport sector projects.

The ministry requires project managers to draft detailed disbursement plans and take responsibility for meeting timelines. Monthly progress will be monitored, and funds will be reallocated from slower projects to faster-moving ones. Underperforming project managers and contractors will face corrective actions.

In May, three new projects were initiated, including the final section of the Ho Chi Minh Road from Cao Bang Province to Ca Mau Province.

By the end of May, the ministry had approved the investment policy for 65 projects and made investment decisions on 57 of these under the 2021-2025 mid-term public investment plan. These projects utilize savings from the 2022 central budget.

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