HCM City urged to hasten public capital disbursement

Prime Minister Nguyen Xuan Phuc speaks at the meeting (Photo: VNA)

HCM City – Under the chair of Prime Minister Nguyen Xuan Phuc, permanent Government members held a working session with key leaders of Ho Chi Minh City on July 20 to review public investment capital disbursement and tackle difficulties for several key projects in the city.

Speaking at the event, PM Phuc asked the municipal authorities to prepare for the Party Congresses at all levels towards the 13th National Party Congress, build the socio-economic development plan for the 2021-2025 period, the mid-term investment plan, and roadmap for digital transformation.

Ministries and agencies were also assigned to help the city speed up disbursement for large-scale projects and build a new industrial park to lure more investment.

Commenting on the local socio-economic performance, the leader hailed the city for successfully curbing COVID-19 and having high determination in public capital disbursement.

He also lauded the municipal authorities for setting the goal of disbursing 100 percent of public investment capital this year, as well as ensuring social welfare support and gradually embarking on a roadmap for digitalisation.

The city’s departments and agencies were urged to exert the best effort to deal with difficulties, especially in site clearance – a weak point in the capital disbursement.

As Ho Chi Minh City is a major contributor to the nation’s gross domestic product (GDP), he proposed that the city continue promoting private investment and attracting more foreign investment, strongly develop entrepreneurs to reduce unemployment and prevent disruptions to the production and supply chain.

About development orientations between now and the year’s end, the PM highlighted a need to stimulate demand and boost services, thus contributing to the common growth of the nation.

He suggested developing night-time economy as well as paying more attention to tge digital economy and e-commerce that accounts for 2 percent of the city’s GDP.

About public and private investment, the leader noted that the city should increase credit quota to address existing difficulties.

As of July 15, the city disbursed over 18.8 trillion VND (817 million USD) worth of public investment capital, or over 45 percent of the plan, higher than the same period last year.

On the occasion of the 73rd anniversary of Day of Invalids and Martyrs (July 27), the PM also visited a Vietnamese heroic mother, a war invalid and a martyr's widow.