On the morning of June 3, Chairman of Ho Chi Minh City People's Committee Nguyen Van Duoc chaired the socio-economic meeting in May and tasks and solutions for June 2025.
View of the meeting. Photo: VIET DUNG
Low disbursement, "green channel" proposal
Regarding the disbursement of public investment capital, Director of the Department of Finance Le Thi Huynh Mai said that she would make the greatest efforts and determination to complete the target of disbursing the accumulated public investment plan by the second quarter at a rate of 30%. According to Ms. Le Thi Huynh Mai, Ho Chi Minh City has determined that the whole year's goal is to strive to disburse 100% of the total capital assigned by the Prime Minister .
However, most of the city's public investment capital will be disbursed at the end of the fourth quarter, when projects with large capital disbursement plans of the city complete investment procedures related to compensation and site clearance. This is also one of the main reasons why the city's disbursement rate in the first months of the year is not high, difficult to follow the average rate of the whole country.
Director of the Department of Finance Le Thi Huynh Mai reports at the meeting. Photo: VIET DUNG
According to the leader of the Department of Finance, in the first months of the year, 4 BOT projects under Resolution 98, the Binh Tien bridge and road construction project; the dredging, environmental improvement, and infrastructure construction project of Van Thanh canal - just counting the capital for compensation and site clearance, the disbursement of nearly 41,000 billion VND, accounting for 48% of the total public investment capital plan for 2025 of Ho Chi Minh City (more than 85,500 billion VND).
From now until the end of June, Ho Chi Minh City will disburse more capital for several large-scale projects such as compensation, support, and resettlement for the Ho Chi Minh City - Moc Bai expressway project through Ho Chi Minh City worth more than VND4,300 billion; purchasing equipment for 3 gateway hospitals worth VND1,300 billion... totaling more than VND7,400 billion...
According to Director of the Ho Chi Minh City Institute for Development Studies Truong Minh Huy Vu, low public investment disbursement is one of two internal weaknesses that Ho Chi Minh City has clearly identified. Among the solutions, he proposed to build and promulgate a "green channel" mechanism to help speed up the progress of key public investment, private investment and FDI projects in Ho Chi Minh City, focusing on the following 5 groups of subjects: large-capital public investment projects, key FDI projects, high technology (green + digital), social housing and infrastructure - urban railways.
Dr. Truong Minh Huy Vu speaks at the meeting. Photo: VIET DUNG
Arrange the machine to ensure smooth operation
Associate Professor, Dr. Tran Hoang Ngan, National Assembly delegate, Assistant Secretary of the Ho Chi Minh City Party Committee, assessed that the socio-economic results achieved by Ho Chi Minh City in May were quite "surprising", very meaningful because 2025 is a special year. Along with activities to celebrate the country's great anniversary, 2025 will also see many revolutions: streamlining the apparatus, science and technology, innovation, digital transformation.
According to Associate Professor, Dr. Tran Hoang Ngan, Ho Chi Minh City needs to give special priority so that from July 1, after the reorganization, the activities of wards and communes must be extremely smooth to meet the requirements of people and businesses. That is proof that streamlining the apparatus is effective, efficient and effective.
Along with that, the Department of Justice and other departments must speed up preparations to institutionalize and concretize the Resolutions and laws passed by the National Assembly at the 9th session, including Resolution 198 on special policy mechanisms for the private economy. Because the private economy is very important to Ho Chi Minh City, accounting for 70% of social investment capital, 60% of GDP, while the whole country, the private economy accounts for 55% of social investment capital. Therefore, it is necessary to concretize, implement early, and send out quick messages to the private business sector.
In particular, the credit guarantee fund for small and medium enterprises has been mentioned for a long time but has not been implemented. He proposed using the budget to fund this fund, in combination with some banks to support enterprises.
Head of the Ho Chi Minh City Statistics Office Nguyen Khac Hoang also acknowledged that, following the growth momentum of the first quarter, Ho Chi Minh City's socio-economic situation in April and May had many improvements.
Head of the Ho Chi Minh City Statistics Office Nguyen Khac Hoang speaks at the meeting. Photo: VIET DUNG
However, he acknowledged that the last 6 months of the year will be more difficult. In particular, the US reciprocal tax will be an obstacle for Ho Chi Minh City's production. Public investment disbursement is one of the driving forces, but so far it is still very low, reaching only over 10% as of May 28. The business environment has not yet had positive changes, although compared to the first months of the year, the ratio of enterprises entering and leaving the market is 1:1, which is better than the first months of the year, but compared to previous years it is still high and higher than the whole country (10:8). He said that Ho Chi Minh City needs to review bottlenecks in the investment environment.
The leaders of the Ho Chi Minh City Statistics Office also expressed their concern about the 5-month consumer price index of 4.27%, much higher than the whole country and neighboring localities. Of which, the construction materials, housing, and medical education sectors are the three groups with relatively high indexes. The problem for Ho Chi Minh City is that the consumer stimulus and price stabilization program needs to be promoted.
“The results of the first 5 months are a good start compared to previous years, but looking back, the driving force and the push to go faster are not clear. Ho Chi Minh City still relies on traditional driving forces such as investment, export, and consumption,” said Mr. Nguyen Khac Hoang.
Director of the Department of Industry and Trade Bui Ta Hoang Vu speaks. Photo: VIET DUNG
Counterfeit goods inspection is still being "dealt with"
In May, through inspections and checks, Ho Chi Minh City discovered many establishments selling fake drugs, functional foods and cosmetics or those that do not meet declared standards.
Ms. Pham Khanh Phong Lan, Director of the Department of Food Safety, said that the agencies have been "very focused" on inspection and handling, but in reality, there is a situation of coping from the facilities. The inspection team went to the pharmacy, the pharmacy said that they did not sell functional foods. When they went to check the inner lining of the cigarette cart, the owner of the facility said that there was no inner lining of the cigarette cart. There was even one case where, due to the large fine, they filed a complaint with the Ho Chi Minh City People's Committee, including a complaint about why the inspection was sudden and not as planned? Ms. Phong Lan said that there will be a plan to re-inspecte the facilities.
Meanwhile, Director of the Department of Industry and Trade Bui Ta Hoang Vu said that in 5 months, 404 cases were inspected, 392 cases were handled with 61,000 products, and a large amount of products were confiscated. The Department of Industry and Trade has been in charge of implementing the "Green Check Responsibility" program for the past two years, with large retailers linking together. If a brand does not ensure quality, the entire system participating in this program will no longer accept goods from that unit. After 2 years of implementation, this is a very effective market barrier solution to prevent manufacturers from not ensuring quality as declared.
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Source: https://www.sggp.org.vn/giai-ngan-dau-tu-cong-5-thang-hon-10-tphcm-can-luong-xanh-day-nhanh-tien-do-post797918.html
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