Deputy Prime Minister Tran Hong Ha has asked ministries and central agencies to work closely with localities to remove obstacles for particular projects, thus speeding up public investment disbursement.
After the General Statistics Office announced that the GRDP index of HCMC in the first quarter of 2023 had only increased by 0.7 percent, the city's leaders are looking at drastic actions to revive the economic hub to its old glory again.
The HCMC People’s Committee should accelerate the implementation of construction projects, especially major works that have been passed by the municipal People’s Council and received an allocation of capital.
Based on statistics, the public investment disbursement rate in HCMC was only 2 percent in the first quarter of 2023. If this situation persists, it may be challenging to achieve the disbursement plan of over VND70 trillion by the end of 2023.
Prime Minister (PM) Pham Minh Chinh had a working session on socioeconomic development, public investment disbursement and progress of major construction projects with the HCMC’s government on November 27.
Many financial experts are now blaming rising interest rates by central banks across the world and the current geopolitical changes across the globe for the drastic plunge in liquidity in the stock market.
The Prime Minister requested the Ministry of Public Security to study and have solutions on issues related to the new passport model to avoid adverse impacts on the country’s socio-economic recovery and development while opening the door after the coronavirus pandemic.
The disbursement of public investment projects in the first six months of 2022 reached VND192, 200 billion (US$8.2 billion), up 10.1 percent compared to the same period last year and accounting for 35.5 percent of this year’s target. However, this rate is not as expected, Minister of Planning and Investment Nguyen Chi Dung said in an interview with the Sai Gon Giai Phong Newspaper.
Mr. Nguyen Thanh Phong, member of the Central Party Committee, Chairman of the People's Committee of Ho Chi Minh City, on November 3 chaired a meeting on economic, cultural, and social situation and national defense and security in October and the first ten months of the year, and deploy missions and solutions for November.
Director of the HCMC Department of Planning and Investment Le Thi Huynh Mai said that Ho Chi Minh City has allocated VND41,691 billion (US$1.7 billion) for public investmen to beef up public construction projects.
Director General of the Department for Local and Regional Economy under the Ministry of Planning and Investment Tran Duy Dong said that according to the government and the Prime Minister’s instructions, inspectors from the Ministry will speed up public investment disbursement in the Mekong Delta.
Disbursement of public investment capital was only VND68,548 billion (US$2.95 billion) from January to April this year, meeting 16.45 percent of the National Assembly target, according to the Ministry of Finance.