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Wednesday, October 5, 2022

Transport Ministry needs to disburse VND28 trillion by end-2022

The Saigon Times

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HCMC – The Ministry of Transport needs to disburse the remaining VND28 trillion in public investment, equal to 56.7%, in the rest of the year to fully meet the year’s target set by the prime minister.

As of this month, projects under the ministry’s management are expected to have received around VND22.1 trillion, reaching nearly 44% of the target assigned by the Government leader, according to data released at a regular meeting of the ministry today, August 26, reported the local media.

Though its estimated public capital disbursement rate by August is higher than the average at other ministries and agencies (32.36%) and that of the country (39.15%), the Transport Ministry admitted that its disbursements were slower than the plan investors had registered before by some VND2.1 trillion, and lower than the rate of 52% in the year-ago period.

In 2022, the Government allocated to the Transport Ministry VND50.328 trillion for public investment projects, comprising VND4.877 trillion of foreign capital and VND45.451 trillion of domestic capital.

To date, the ministry has allocated VND45.34 trillion to project investors and management units, meeting 90.1% of the target.

For the remaining VND5 trillion, the ministry plans to allocate it to 12 components of the North-South Expressway project, according to data from the ministry’s Planning and Investment Department.

To facilitate public capital disbursements, the Transport Ministry asked the project investors and management units to take advantage of favorable weather to ramp up construction work.

Regarding projects whose investment procedures are underway, investors and management units were told to urge consulting units to complete essential dossiers for the projects, as scheduled, to expedite disbursement.

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