 |
The construction project for Nguyen Van Linh – Nguyen Huu Tho Underpass in District 7, HCMC is accelerated (Photo: SGGP) |
During the first 4 months this year, HCMC’s units were able to distribute VND2.51 trillion (US$107 million), accounting for only 6 percent of the city’s set target of VND41.5 trillion ($1.77 billion) or 3.6 percent of the total capital given by the Prime Minister. By May 12, this figure reached VND8.24 trillion ($351.3 million), occupying 20 percent and 12 percent of the two above targets respectively.
It is expected that by July 2023, the disbursement percentage will be 27 percent of the total capital delivered by the Prime Minister.
HCMC is allocated VND70.5 trillion ($3 billion) of public budget to use this year, which doubles last year’s capital plan. Therefore, the city has quickly adopted various measures to distribute this amount effectively.
HCMC Party’s Committee has formed 13 task forces under the management of its Standing Committee to monitor the progress of 38 key projects whose capital makes up 70 percent of this year’s total capital plan.
HCMC People’s Council has created a delegation to supervise the implementation of public investment tasks in the 2021-2025 period. Meanwhile, HCMC People’s Committee has introduced an action plan to boost public investment disbursement in 2023, aiming at helping state agencies to reduce the time handling administrative procedures by 30 percent, at closely monitoring the progress of current projects and timely warning any investors allowing tardiness due to subjective reasons.
Regarding the land compensation tasks, the related task force will work with districts and investors each month to accelerate the progress, while the People’s Committees of all districts and Thu Duc City must ensure to hand over project land on time, including those that are not invested by districts and Thu Duc City.
