City Chairman asks to build mechanism for mobilization of financial resources

Chairman of the Ho Chi Minh City People's Committee Phan Van Mai asked the Department of Planning and Investment and the Department of Finance to build a mechanism for the mobilization of financial resources for the city’s development.
At the meeting

At the meeting

Chairman of the People's Committee of Ho Chi Minh City Phan Van Mai yesterday chaired a meeting to assign tasks for the 2023 plan for the Department of Planning and Investment and the Department of Finance.

At the meeting, Chairman of the Ho Chi Minh City People's Committee Phan Van Mai assigned the two departments to build a mechanism to mobilize financial resources for the development of Ho Chi Minh City, especially non-budget resources.

Specifically, the HCMC Department of Planning and Investment was urged to take heeds of non-budget sources, public - private partnerships and other forms while the Department of Finance was tasked to work with the tax and customs sectors to identify which sectors contribute the most to the city's budget; thereby, the city will focus on infrastructure investment to nurture and develop revenues.

Additionally, the Department of Finance must focus on loans, auctions of public assets that are not used effectively and equitization of enterprises.

Chairman Phan Van Mai suggested several solutions such as the rearrangement of the headquarters of agencies in the city as currently agencies are located citywide; worse, staff of some agencies complained of their small facilities. If these agencies are located in the same place, they will have a spacious headquarters and the remaining area can be auctioned to bring revenue to the city.

Chairman Phan Van Mai speaks at the meeting

Chairman Phan Van Mai speaks at the meeting

For effective mobilization, it is necessary to have a strategy to allocate resources for efficiency and savings. Currently, the allocation is not focused on crucial projects, so the efficiency is not high. Many major policies such as sustainable development and green growth have been mentioned many times, but in reality, there has been no roadmap and no resources for implementation.

The Chairman of the municipal People's Committee agreed with the recommendations of the leaders of the two departments that competent agencies should hire consultants to set up projects.

The leaders of the two departments suggested that Ho Chi Minh City organize an exam to recruit civil servants soon, because the workload is too much whereas the two departments are short of staff.

For instance, the Department of Finance has a total assigned payroll of 228 but it currently has only 208 staff; as a result, the price management and corporate finance divisions are facing a big shortage. Meanwhile, the Ho Chi Minh City Department of Planning and Investment is also short of 7 civil servants.

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