Disbursement rate of many public investment projects at 0 percent

Chairman of the Ho Chi Minh City People’s Committee Phan Van Mai has just signed an official letter to accelerate public investment implementation in the city.

Of which, the municipal People’s Committee Chairman proposed the party chiefs in Thu Duc City and districts to pay attention to directing site clearance and public investment disbursement; organize weekly meetings to check the progress of projects and remove obstacles; ensure compensation disbursement progress and the general progress of the projects.

Particularly, the Chairman of the People’s Committee assigned the Director of the municipal Department of Planning and Investment to regularly monitor the progress, summarize the list of units, investors reaching low disbursement rate, under 30 percent, by September due to subjective errors. Thereby, the director will propose criticism for relevant ones to the Ho Chi Minh City People’s Committee. The HCMC Department of Internal Affairs will evaluate their mission completion in the third quarter of 2023.

At the current time, many projects in Ho Chi Minh City have a disbursement rate of zero percent, including the Ca Chay residential construction project, the repair and improvement project of Binh Khanh Primary School in Can Gio District; the upgrade and expansion project of Lo Lu Street in Thu Duc City; the upgrade and renovation project of Phu Lam Market in District 6 and so on.

According to the HCMC Department of Planning and Investment, the municipal People’s Committee has allocated public investment capital in 2023 with more than VND68,490 billion (US$2.9 billion), reaching 97 percent of the total public investment plan assigned by the Prime Minister.

However, by August 4, the city’s total disbursement of investment capital in 2023 has reached only VND18,646 billion (US$784 million), meeting only 27.2 percent of the total assigned capital.

Earlier, the city set the target of reaching the disbursement rate of more than 35 percent by the end of June.

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