Home / Economy / Construction
Vietnam PM warns of punishment for sluggish public investment
Nguyen Tung 12:04, 2020/08/21
The Vietnamese government remains steadfast in disbursing the full target amount of VND630 trillion (US$27.26 billion) to aid economic recovery.

Officials would face disciplinary actions if their ministries and localities fail to realize their respective disbursement targets of public investment funds for this year, Prime Minister Nguyen Xuan Phuc has warned.

 The government remains steadfast in disbursing the full target amount of VND630 trillion (US$27.26 billion).

The government remains steadfast in disbursing the full target amount of VND630 trillion (US$27.26 billion) to aid economic recovery, and this requires the active participation of the entire political system, Mr. Phuc said at a government meeting today [August 21].

Priority should be given to major infrastructure projects to avoid any delay, including the North-South Expressway, Long Thanh International Airport, and My Thuan – Can Tho expressway, among others, Mr. Phuc stressed.

Minister of Planning and Investment Nguyen Chi Dung said the most challenging issue in public disbursement is the site clearance process, including the verification of the origin of land and the compensation for affected households.

Mr. Dung pointed to the site clearance as a major obstacle for the Eastern North-South expressway project in the 2017 – 2020 period, in which 13 provinces and cities are involved.

As of July 31, the disbursement amount stood at VND193.04 trillion (US$8.32 billion) or 40.98% of the government’s target. The figure is estimated to reach VND221.76 trillion (US$9.56 billion) or 47% of the total estimate by August 31, higher than the 41.39% recorded in the same period last year.

To date, 39 ministries, ministerial-level agencies and six provinces have disbursed 35% of plans or less, with 15 agencies and one province disbursing even less than 15%. 

RELATED NEWS
TAG: Vietnam public disbursement investment disciplinary action Prime Minister Nguyen Xuan Phuc economic recovery covid-19 coronavirus nCoV pandemic
Other news
20:33, 2021/33/11
State-run cement producer VICEM posts annual increase of US$30 million in profit
The company sets a revenue target of over VND35 trillion (US$1.5 billion) in 2021, up 7% year-on-year, and pre-tax profit of VND2.3 trillion (US$99 million), or an increase of 13%.
22:48, 2021/48/03
Work starts on Long Thanh International Airport construction on January 5
The Long Thanh International Airport is expected to reduce the load on Tan Son Nhat International Airport in Ho Chi Minh City.
14:15, 2020/15/31
The interchange spanning Hanoi–Hai Phong expressway on track to completion
The Hanoi's key road project worth US$17.3 million is expected to be operational on January 10, 2021, two months ahead of schedule.
06:11, 2020/11/05
Proper construction planning – a long term solution to air pollution
The Hanoitimes Urbanisation has helped push up Hanoi’s economic growth. Yet the lack of synchronous solutions may bring about various problems for the city including environmental pollution.
16:27, 2020/27/03
Vietnam accelerates implementation of four major ODA transportation projects
The disbursed amount of official development assistance (ODA) funds in Vietnam in the first nine months of 2020 stood at only VND26 trillion (US$1.12 billion), equivalent to 32.43% of the year’s estimate.
08:50, 2020/50/02
Runway upgrade at Vietnam's 2 busiest airports must be finished before year-end
The first phase of the two runway upgrade projects of Noi Bai and Tan Son Nhat airports are expected to be completed by the end of 2020, and become operational in early 2021.