HCMC – The disbursement of public investments reached VND352.1 trillion in January- August, representing 49.4% of the full-year plan and surpassing the year-ago figure by 23.1%, according to the General Statistics Office.
In this eight-month period, funds under central management surged by 29.5% year-on-year to VND65.3 trillion, equivalent to 49.1% of the year’s estimate.
Investment capital overseen by local authorities grew by a sharp 21.8% compared to the year-ago period, accounting for VND286.7 trillion, nearly half of the 2023 target.
August saw a notable 29.1% increase in investment from the State budget in comparison to the same period last year, amounting to VND61.3 trillion. Of the total, capital under central management grew 31.7% versus last August to VND11.4 trillion, while locally-managed capital showed a 28.5% increase to VND49.9 trillion.
Hanoi City led the public investment disbursement charge with VND28.1 trillion, closely followed by HCMC with over VND25.2 trillion and Binh Duong Province with VND10.3 trillion.
Despite these advancements, Vietnam faces challenges in the efficient deployment of these investments, said Tran Quoc Phuong, deputy minister of Planning and Investment.
He emphasized the need for greater focus and determination in executing strategies to ensure that over 95% of allocated funds are disbursed as directed by the Prime Minister.
Source: The SaigonTimes