On the afternoon of October 14, the Ho Chi Minh City Delegation of National Assembly (NA) Deputies met with the HCMC People's Committee to discuss the city's socio-economic situation, the implementation of NA Resolutions 98/2023/QH15 and 57/2022/QH15, and the agenda for approval at the 8th session of the 15th National Assembly.
At the meeting, Mr. Ha Phuoc Thang, Deputy Head of the HCMC Delegation of NA Deputies, raised concerns about the slow disbursement of public investment funds. He questioned whether the delays were due to obstacles at the central government level or with various ministries and agencies.
He also asked if, in addition to the ongoing coordination efforts, there were any recommendations or support measures needed to help the city speed up its public investment projects.
In response, Ms. Le Thi Huynh Mai, Director of the HCMC Department of Planning and Investment, explained that the main reason for the delayed disbursement was difficulties related to the Bidding Law and urban planning adjustments.
She also noted issues with the new compensation rates required by the Land Law, which have impacted projects like the Xuyen Tam Canal and the Northern bank of the Doi Canal.
Ms. Le Thi Huynh Mai highlighted that some challenges are beyond HCMC's jurisdiction and require assistance from central government agencies, such as the nearly VND10-trillion anti-flooding project.
The city has already disaggregated the issues within its control, such as reallocating funds to projects with better disbursement performance and reducing administrative procedures for public investment disbursement by 30 percent.
If these issues are comprehensively resolved, the city expects to disburse 38.4 percent of its public investment budget by October 2024, and 85.9 percent by December 2024.
At the meeting, Mr. Duong Ngoc Hai, Permanent Deputy Chairman of the HCMC People's Committee, noted that while the city's socio-economic situation has improved, with third-quarter growth surpassing second-quarter levels, challenges remain, including weak cash flow into the market, low public investment disbursement, and a decline in foreign direct investment (FDI).
To meet its socio-economic goals, the city needs stronger commitment from the entire political system and continued support from central government agencies to resolve these difficulties.
According to Ms. Le Thi Huynh Mai, the HCMC People's Committee has made several specific recommendations. For instance, during the process of revising and supplementing the Investment Law, the committee suggests that the NA consider amending Clause 7, Article 4 of Resolution 98, which addresses the capital disbursement requirements for strategic investors, to ensure it aligns with practical implementation.
Regarding the Ring Road No.3 project, the committee recommends that the NA support balancing central budget funding to assist Binh Duong Province in promptly studying investments to upgrade and expand the 15.3 km section from Tan Van to Binh Chuan, which overlaps with Ring Road No.3, to facilitate synchronized and effective operations when HCMC’s Ring Road No.3 becomes operational in 2026.
As for Resolution 131/2020/QH14 on urban administration in HCMC, the HCMC People’s Committee requests that the government report to and seek the NA's approval to include a Special Urban Law project, which would contain provisions for special urban areas in the city, in the NA's legislative agenda.
Additionally, HCMC has recommended that the NA support the proposed special mechanisms concerning the items scheduled for reporting to the NA, including Ring Road No.4, the Urban Railway Project, and the International Financial Center.
