Ho Chi Minh City sprints to disburse more than 55,000 billion VND

By the end of October, Ho Chi Minh City had only disbursed 52.7% of public investment capital. From now until the end of the fiscal year 2025, the City must rush to disburse more than VND55,000 billion. This is the problem that the "super" city must solve in the remaining months.

Although the disbursement situation at the economic locomotive of Ho Chi Minh City has accelerated significantly in recent months, it is still not enough to make up for the sluggish months at the beginning of the year. According to the latest report of the Ho Chi Minh City Department of Finance, as of October 24, the City has only disbursed VND 62,741 billion (52.7% of the plan) of public investment capital in 2025. Of which, the central budget capital is VND 8,492 billion (55.5%); the local budget capital is VND 54,249 billion (52.3%).

“In the last months of the year, Ho Chi Minh City must disburse more than VND55,000 billion, equivalent to about 46%,” Mr. Hoang Vu Thanh, Deputy Director of the Ho Chi Minh City Department of Finance, stated the figure at a recent meeting on the city’s socio-economic situation.

In this meeting, Mr. Nguyen Khac Hoang, Chief of Statistics of Ho Chi Minh City, assessed that the city's economy still maintained its growth momentum, but lacked the driving force for rapid growth. The two driving forces that are holding back the city's growth are export and public investment. In particular, the disbursement of public investment capital is low, if the current progress is maintained, it will be very difficult to complete the target.

“With the current disbursement progress, to achieve the plan, in the last two months of the year, the City must disburse about 24% of the total allocated capital each month. This is an impossible task without specific solutions, closely following the progress,” Mr. Hoang warned.

Faced with the slow disbursement of public investment capital in Ho Chi Minh City, Mr. Hoang Vu Thanh said that in the last months of the year, the City will implement a series of synchronous solutions to bring the disbursement of public investment capital to the finish line. In particular, the City will focus on promoting site clearance, especially for large-capital projects.

Actual records at many projects show that investment capital is stuck in the site clearance stage, leading to projects not being able to be constructed and disbursed. Part of the reason is that after the transfer to 2-level local government, communes and wards lack officials with expertise in planning and land, leading to compensation procedures being slower than planned.

During recent site inspections of projects, Chairman of the Ho Chi Minh City People's Committee Nguyen Van Duoc requested that once localities have an implementation plan, a budget estimate, and people have agreed, they must immediately work with the State Treasury to make payments immediately, not to let it drag on for 30-90 days according to rigid procedures.

Unlike previous years, this year, the Ho Chi Minh City People's Committee implemented a mechanism of assignment, decentralization, and clear and specific responsibilities for agencies and units in implementing public investment projects in the spirit of "6 clear: clear people, clear work, clear responsibility, clear authority, clear time, clear results".

Along with that, 3 Working Groups on public investment disbursement headed by 3 Vice Chairmen of the City People's Committee will strengthen on-site inspections to remove obstacles according to the motto "decide on the spot, remove on the spot", especially for site clearance and relocation of technical infrastructure... At the same time, urge the implementation of investment procedures under the authority of departments, branches and commune-level People's Committees related to the project.

To speed up disbursement, the City requires investors to coordinate closely with contractors, organize construction in 3 shifts, 4 teams, to supplement 15% to 20% of the volume compared to the proposed plan. Acceptance and payment procedures must be completed within 4 working days from the completion of the volume, not to let the files accumulate at the end of the year.

From now until the end of 2025, the City will focus on implementing projects with large capital plans such as the Project to upgrade and expand National Highway 1; National Highway 22; Project to dredge and renovate Van Thanh canal; Projects on Ring Road 3 and Ring Road 4... In particular, the City will flexibly transfer capital from slow projects that are not yet able to disburse capital immediately to projects that are able to disburse capital to promote disbursement of public investment capital in the last months of the year.

If the above solutions are well implemented, the City's public investment disbursement can completely achieve the set target, especially when many projects are preparing to start construction and be completed by the end of the year.

According to Investment Newspaper

https://baodautu.vn/tphcm-chay-nuoc-rut-giai-ngan-hon-55000-ty-dong-d430060.html

Source: https://thoidai.com.vn/tphcm-chay-nuoc-rut-giai-ngan-hon-55000-ty-dong-217545.html