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Vietnam's public investment disbursement increases in July

14:50 | 05/08/2020

In July, the disbursement of Vietnam's public investment sourced from the State budget reached its highest rate over the past five years. 

vietnams public investment disbursement in 6 months reaches nearly usd 7 million Vietnam's public investment disbursement in 6 months reaches nearly USD 7 million
prime minister emphasizes on effective public investment disbursement Prime Minister emphasizes on effective public investment disbursement
hanoi to speed up public investment disbursement Hanoi to speed up public investment disbursement
vietnams public investment disbursement increases in july
The public investment disbursement sourced from the State budget reached VND 45.7 trillion (US$1.97 billion) in July (Photo: Cafeland)

According to the General Statistics Office of Vietnam, the public investment disbursement sourced from the State budget reached VND 45.7 trillion (US$1.97 billion) in July. This represents a rise of 51.8% against the same period last year, the highest increase during the 2016-2020 period, according to Nhan Dan.

In 2020, the disbursement of public investment totaled VND203 trillion (USD 8.7 billion), equivalent to 42.7% of the plan for the full year and up by 27.2% over the same period in 2019.

vietnams public investment disbursement increases in july
In 2020, the disbursement of public investment totalled VND203 trillion (Photo: Bidding News)

The central capital management reached 32.5 trillion VND (USD 1.4 billion), equaling 38.4% of the year plan and up 60.1% over the same period last year. The local capital management reached 170.5 trillion VND (USD 7.3 billion), equaling 43.6% of the year plan and up 22.5% against the same period last year.

The implemented capital from the State budget in the first 7 months of 2020 of Hanoi reached VND 22,063 billion (USD 953 million), equaling 48.6% of the year plan and increasing by 2.8 % compared to the same period last year, HCMC VND 17,128 billion (USD 742 million), by 35.8% and up 73.2%; Quang Ninh VND 8,465 billion (USD 366 million), as 60.9% and up 64.6%, reported by Economy and Urban.

vietnams public investment disbursement increases in july
The disbursement of public investment in 7 months was much higher than the same period in previous years (Photo: Financial Times)

The Ministry of Planning and Investment stated that the disbursement of public investment in 7 months was much higher than the same period in previous years. This is partly due to the comprehensive renovation of public investment legal framework and drastic guidance of the Government.

However, the progress of disbursement of the state budget investment plan for the first 7 months is still low. Minister of Planning and Investment Nguyen Chi Dung emphasized the demand to stimulate the economy, and promote the public investment disbursement. Public investment in key infrastructure projects helps create a sustainable growth platform in the future and increase the competitiveness of the economy, informed Bidding News.

The Vietnamese government targeted to disburse all public investment planned for this year as well as the public investment sums transferred from previous years to accelerate post-pandemic economic recovery. This means about VND 630 trillion (USD 27 billion) must be disbursed this year. The Ministry of Finance reported that about VND160 trillion (USD 6.9 billion) was disbursed in the first half of this year.

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