Public investment meets 82% of PM's target

By Duc Minh January 4, 2024 | 12:32 am PT

An employee counts Vietnamese banknotes at a bank in Hanoi. Photo by VnExpress/Giang Huy

Vietnam disbursed VND580 trillion ($23.78 billion) in public investment last year, 82% of the set goal by Prime Minister Pham Minh Chinh.

High disbursement rates of 85-95% were recorded among the State Bank of Vietnam, Ministry of Transport, and Ministry of Defense.

Localities that posted a 90% or higher rate included Long An, Dong Thap and Ca Mau in southern Vietnam and Quang Ngai in the central region.

Minister of Planning and Investment Tran Quoc Phuong said that public fund disbursement was one of the economic bright spots last year, which helped put nearly 700 kilometers of expressways into operation in efforts to have 3,000 kilometers nationwide by 2025.

But some government bodies and state-owned firms posted a low disbursement rate of under 20% such as the Ethnic Committee, Tobacco Corp and Hoa Lac Hi-Tech Park Management Board.

Ho Chi Minh City disbursed 39% of plan, while the rate of the central province of Phu Yen is 29.4% and the northern province of Hoa Binh 26%.

"Some units were slow in making changes to the fund distribution for projects," Phuong said.