The People's Committee of Ho Chi Minh City has just issued an urgent directive on speeding up the disbursement of public investment capital. According to a report by the State Treasury of HCMC, by February 28, the total disbursed capital was VND369 billion, only reaching 1 percent of the plan.
Meanwhile, according to the Prime Minister's directive, the rate of public investment disbursement this year must reach at least 95 percent.
Among the solutions, the People's Committee of HCMC has assigned the Department of Planning and Investment to prepare backup plans to supplement projects that can absorb funds to replace those that face objective difficulties and cannot be disbursed according to the plan. Projects that are still slow in implementation by June 2023 will have their funds cut and transferred to other projects.
At the meeting in March 2023, the People's Committee of HCMC will submit to the People's Council of HCMC a resolution on the detailed allocation of the entire reserve capital for the 2023 public investment plan.
In which, nearly VND14.5 trillion will be allocated to five projects that have completed investment project approval and commencement procedures, including component project 1 with VND6 trillion and component project 2 with VND6.5 trillion of the Ring Road No.3 construction investment project; the compensation project for site clearance, expansion, and upgrade of Duong Quang Ham Street, the section from Binh Thanh District to Van Hoa Park, with VND1.75 trillion.
In 2022, HCMC disbursed over VND26.6 trillion, reaching 71.3 percent.
