HCM City completes nearly 60 percent of public capital disbursement plan

November 11, 2020 | 16:39

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Ho Chi Minh City had disbursed nearly 23 trillion VND (987.48 million USD) of public investment capital as of September 22, completing 54.2 percent of its yearly target, the Office of the city People’s Committee has reported.

hcm city completes nearly 60 percent of public capital disbursement plan

A corner of HCM City (Photo: VNA)

HCM City – Ho Chi Minh City had disbursed nearly 23 trillion VND (987.48 million USD) of public investment capital as of September 22, completing 54.2 percent of its yearly target, the Office of the city People’s Committee has reported.

According to the committee, the city has allocated more than 42 trillion VND of public capital for the year.

Despite impact of the COVID-19 pandemic, the city has still enjoyed positive results in public investment disbursement, with the disbursement amount and rate higher than those in the same period last year by 2.35 times and 1.89 times, respectively.

However, the results have yet to meet the requirements of the Government due to difficulties in ground clearance.

In order to speed up the work, the city People’s Committee has asked for advice from the Department of Planning and Investment on the adjustments and supplementation of the city public capital disbursement plan for 2020, as well as the revision of the middle-term plan for the 2016-2020 period.

The department has also been directed to give consultations to the People’s Council on reclaiming capital from projects that cannot disburse all the assigned capital for those needing more investment.

The municipal People’s Committee also urged localities to continue applying measures to speed up disbursement by shortening time for the processing of investment procedures.

VNA

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