Quang Ninh city has set its sights on a formidable target: disbursing an additional VND 4.021 trillion in public investment capital, which will lift its nine-month total to VND 17.140 trillion.
Prime Minister Phạm Minh Chính commended 12 ministries and central agencies and 20 localities for above-average performance, while criticising 22 ministries, sectors and central agencies as well as 12 localities for lagging behind.
The Vietnamese Government has initially planned to allocate more than VNĐ790 trillion (US$31.13 billion) for public investment in 2025, quite a large sum which, if approved, will put significant pressure on disbursement.
Public investment is expected to become a momentum for the economy, especially for construction and transportation businesses, to recover and develop in 2023 and the following years.
The National Assembly approved the public investment plan with a total capital of over VNĐ700 trillion (US$29.85 billion) in 2023, VNĐ140 trillion higher than the plan in 2022 and VNĐ260 trillion higher than 2021.
About 46.2 trillion VND (nearly 1.98 billion USD) of investment capital sourced from the state budget was disbursed in July, up 22.5% from a year earlier, according to the General Statistics Office (GSO).
