Home / Hanoinews
Hanoi to set up 5 task forces to accelerate disbursement of public funds
Nguyen Tung 01:11, 2020/09/17
At present, Hanoi gives utmost priority to containing the Covid-19 pandemic while continuing strong efforts in improving the business environment and addressing businesses’ concerns.

Secretary of the Hanoi Party Committee Vuong Dinh Hue has requested local authorities to set up five task forces specialized in accelerating the disbursement progress of public funds.

 Secretary of Hanoi Party Committee Vuong Dinh Hue. 

The measure was mentioned in an announcement of the municipal Party Committee on September 15, detailing the conclusions of Mr. Hue in a previous meeting with Hanoi’s Taxation Department.

As per the announcement, the Hanoi Party chief requested the Department of Taxation and Department of Planning and Investment to realize the city’s targets in tax collection and budget expenditure in 2020, noting this is key to ensure the capital city’s gross regional domestic product (GRDP) growth this year at 1.3 times as high as the national average.

Hanoi gives utmost priority to containing the Covid-19 pandemic while continuing strong efforts in improving the business environment and addressing businesses’ concerns.

Mr. Hue asked the authorities to review the progress of projects having acquired investment licenses at the “Hanoi 2020 – Investment and Development Cooperation” held late June, in which both domestic and foreign investors committed investment capital worth a combined US$17.6 billion in 229 projects.

Meanwhile, the Taxation Department is tasked with putting in place measures to prevent tax losses and improve efficiency in tax collection.

For the rest of the year, Hanoi would focus on accelerating the progress of existing projects and improving state management in the allocation of state funds, including the transferring of state capital in projects with slow disbursement progress to those with faster disbursement pace.

This year, Hanoi targets to disburse 100% of the target amount of VND40.67 trillion (US$1.75 billion), and fulfil the state budget revenue target of VND260.4 trillion (US$11.23 billion) to aid the city’s economic development.

In the January – August period, the city’s state budget revenue stood at VND147.04 trillion (US$6.34 billion), equivalent to 56.5% of the estimate and down 10.6% year-on-year.

Hanoi's GRDP is estimated at 3.49% in the first eight months of this year, 1.92 times the national average. The city targets its growth to range from 4.5% to 5% for 2020. 

RELATED NEWS
TAG: Hanoi covid-19 coronavirus nCoV pandemic disbursement Public investment party chief Vuong Dinh Hue economic recovery GRDP
Other news
08:33, 2020/33/22
Hanoi proposes another metro line project worth US$2.8 billion
This is one of the eight metro projects Hanoi plans until 2030 to improve the city's public transportation system.
14:43, 2020/43/21
Vietnam PM requests thorough studies for night economy development
The development of night tourism depends on the real demand for special products to attract tourists.
18:21, 2020/21/20
Hanoi must set an example in all aspects: Party chief
Hanoi is asked to make greater efforts in Party building, personnel development and discipline enhancement, in order to deserve its position as the nation's political and cultural center.
18:33, 2020/33/18
Minister of Science and Technology named Deputy Party Chief of Hanoi
With this decision, Minister of Science and Technology Chu Ngoc Anh could set to become Chairman of the Hanoi People’s Committee.
15:57, 2020/57/18
Hanoi official urges speedier progress of key environmental projects
Hanoi has asked contractors to speed up construction of the Yen Xa sewage treatment site to help clean the once iconic To Lich river and better lives of citizens living along the river.
15:54, 2020/54/18
Cost of two-week quarantine in Hanoi hotels averages US$728
The cost for 14-day quarantine period at three- to five-star hotels in Hanoi city ranges from VND16.8 million to VND56 million (US$728 - 2,427) per person.