Public investment distribution has completed 51% of the annual plan

According to the General Statistics Office, the capital managed by the government is estimated at 50,4 trillion VND, representing 47.7% of the annual plan and an increase of 18.1% year-over-year (GSO).

In August alone, the amount of disbursed public investment reached 48.3 trillion VND, an increase of 51.4% y-o-y. The government managed 8.9 trillion VND, an increase of 36.8% compared to the same month last year, while the remainder was managed by localities.

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To expedite the disbursement, the Prime Minister has tasked six working groups with continuing inspections, removing difficulties and impediments, and accelerating the disbursement of 2022 public investment allocated to 41 ministries and centrally-run agencies, as well as 18 localities with results below the national average (34.47%).

Specifically, on August 29, the head of a working group, Deputy Prime Minister Pham Binh Minh, collaborated with the leading officials of the central provinces Quang Binh and Quang Tri on this work. Quang Binh and Quang Tri reported disbursement rates of 30% and 34%, respectively, from January to August.

The slow disbursement was attributed to complex procedures, obstacles in project site clearance, and the shortcomings of a number of investors, consultants, and contractors.