The People’s Committee of Hanoi is directing departments and localities to take drastic measures to speed up the disbursement of public investment as by the end of March 2020, the capital city’s disbursement only reached 7.6 percent of the yearly target, failing to meet the requirements.
Construction of an elevated road in Hanoi (Photo: VNA)
Hanoi (VNA) –The People’s Committee of Hanoi is directing departments and localities to takedrastic measures to speed up the disbursement of public investment as by theend of March 2020, the capital city’s disbursement only reached 7.6 percent ofthe yearly target, failing to meet the requirements.
Districts are requiredto build appropriate plans for 2020 in accordance with the city’s budgetcollection scenario given the complicated developments of the COVID-19 pandemic.
The state budgetcollection in the capital is forecast to be extremely difficult, affectingdevelopment investment and regular expenditures.
Therefore, localitiesacross the city should review the porfolio of investment projects, prioritisingnatural disaster prevention, diseases, health care, social welfares,education-training, agriculture and rural development, environmentalprotection, and social order, safety and security.
According to themunicipal People’s Committee, the city’s five-year medium-term publicinvestment plan 2016-2020 has been updated and adjusted by the municipal People'sCouncil with a total capital of over 107.3 trillion VND (4.6 billion USD).
The accumulateddisbursement of medium-term capital in the period reached 7.4 trillion VND (318million USD) as of January 31, 2020, equal to 85.3 percent of the plan./.
Almost 34.75 trillion VND (1.49 billion USD) of public investment capital was disbursed in the first two months of 2020, equivalent to 7.38 percent of the year’s plan and nearly doubling the value and progress in the same period last year.
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Boosting public investment disbursement is an important channel for the country’s socio-economic growth, Prime Minister Nguyen Xuan Phuc said at a meeting in Hanoi on March 27 to prepare for a teleconference between the Government and localities on March 31.
Boosting the disbursement of all planned public investment would help increase this year’s gross domestic product (GDP) by 0.42 percentage points, according to the General Statistics Office (GSO).
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Construction of an elevated road in Hanoi (Photo: VNA) 
