HCMC – Vietnam plans to allocate an additional VND84.3 trillion from increased revenue and budget savings in 2024 to accelerate infrastructure projects, according to a National Assembly resolution passed today, February 19.
The funds will support the completion of Long Thanh International Airport and key port projects, including Lach Huyen in Haiphong City and Lien Chieu in Danang City. The Government also aims to bring Terminal T3 at Tan Son Nhat and Terminal T2 at Noi Bai into operation while fast-tracking approvals for other major transportation projects, reported the Government news site (baochinhphu.vn).
Vietnam is working to simplify administrative procedures and create a more investment-friendly climate. The plan seeks to resolve challenges for private sector growth, particularly for small and medium-sized enterprises aiming to integrate into global markets.
The Government will reinforce the role of domestic firms in major projects, with state-owned enterprises focusing on national infrastructure while fostering collaboration with the private and foreign direct investment (FDI) sectors.
Authorities are also tackling issues in the real estate and capital markets. Plans are underway to upgrade the stock market to emerging market status in 2025 and improve access to international investment funds. Credit growth will be aligned with economic priorities, focusing on production, trade, and key sectors such as consumption, investment, and export.
Despite repeated directives from the Government, only 96.07% of the public investment plan for 2025 had been allocated as of January 23.
Over VND84.8 trillion remains unallocated, significantly slowing public investment disbursement. By the end of January, only 1.26% of allocated funds had been disbursed, well below the 2.58% recorded in the same period of 2024.
On February 18, Prime Minister Pham Minh Chinh issued Official Dispatch No. 16/CD-TTg, criticizing 26 ministries, central agencies, and 48 localities for delays in allocating public investment funds.
He ordered a thorough review of individual and collective accountability, stressing that those responsible for the delays must face consequences under Party regulations and State laws.
