Ho Chi Minh City accelerates public capital disbursement for year-end

Sunday, 2020-08-23 17:53:00
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Ho Chi Minh City targets to disburse over 95% of public investment capital for 2020. (Photo: NDO)
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NDO – Ho Chi Minh City is implementing a range of measures to boost public capital disbursement in the city, such that the rate may reach over 95% by the year-end.

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According to the HCM City People's Committee, as of August 15, the southern economic hub has disbursed nearly VND21trillion, reaching 50% of the whole-year set plan for public capital disbursement in the city (compared to over VND9 trillion and 27% of the set plan in the same period last year).

The disbursement volume continued to increase in recent days. Previously, by the end of July, the city had disbursed over VND20 trillion, reaching 47.6% of the total assigned capital plan, much higher in value and disbursement rate than during the same period last year.

According to Nguyen Thanh Phong, Chairman of the HCM City People's Committee, amid the city is struggling with the COVID-19 epidemic, the increase in both value and disbursement rate has shown the great activeness and efforts from the city in realising the set disbursement plan for this year.

Currently, HCM City is implementing 1,643 public investment projects with a total capital assigned in 2020 at over VND42.1 trillion. The disbursement of the capital would have a great significance in promoting the city’s economic growth amid difficulties caused by COVID-19, Phong said.

In order to effectively disburse public investment capital, from the beginning of the year, HCM City has implemented a range of drastic measures, while regularly monitoring the disbursement.

The head of the city’s governing body affirmed that HCM City would make the best efforts in striving to disburse over 95% of the capital assigned by the year-end, with a focus on implementing multiple drastic solutions in the remaining months.