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Friday, July 12, 2024

Vietnam misses public investment disbursement target

The Saigon Times

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HCMC – Vietnam missed its public investment capital disbursement target for 2023 despite the Government’s efforts to accelerate disbursements.

Total disbursements last year reached nearly VND579.85 trillion, representing only 73.5% of the goal set by the National Assembly, leaving VND11.75 trillion undisbursed.

Some entities and localities, such as the State Bank of Vietnam, the Ministry of Transport, and the Ministry of Defense, as well as Long An, Quang Ngai, Dong Thap, and Ca Mau, reported disbursement rates of between 85% and 95%.

The Ministry of Finance said that 63 out of 115 central and local agencies had disbursement rates lower than the national average, with 12 agencies disbursing less than 20% of their allocated funds and two localities disbursing less than 40%.

The ministry attributed the lower-than-expected disbursements to conflicting policies and inconsistent mechanisms. Regulations on land clearance created administrative hurdles, affecting the pace of disbursement.

Although some mechanisms have been revised, ongoing reviews of various issues continue to impact the timely disbursement of funds.

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