Ho Chi Minh City is experiencing slow disbursement, reaching only 20% in the first nine months.

On the afternoon of October 1st, the Ho Chi Minh City People's Committee held its regular socio -economic meeting for September and the first nine months of the year. At the meeting, Mr. Phan Van Mai, Chairman of the Ho Chi Minh City People's Committee, reviewed the goals and tasks set for the past period.

Disbursement of public investment funds in the first nine months of 2024 reached only nearly 20%. Photo: MQ

According to Mr. Mai, although the city has basically maintained its growth rate, it has not yet achieved a breakthrough.

Regarding investment capital for basic construction and major repairs from the State budget managed by the locality, the estimated amount for September 2024 reached VND 4,875.5 billion, an increase of 4.6% compared to the previous month and a decrease of 6.1% compared to the same period last year.

Of this, the estimated capital managed by the city-level budget is 4,871 billion VND, a decrease of 5.6% compared to the same period; the estimated capital managed by the district-level budget is 4.5 billion VND, equivalent to 12.6% compared to the same period (because the capital plan from the district-level budget in 2024 is only 16.8% of that in 2023).

Overall, in the first nine months of 2024, investment in basic construction and major repairs from the State budget managed by localities is estimated at VND 30,190 billion, an increase of 0.2% compared to the same period (VND 30,138.1 billion in the first nine months of 2023).

City-level budget capital is estimated at 30,149.2 billion VND, an increase of 1.1% compared to the same period last year, reaching 38% of the plan assigned by the Prime Minister ; district-level budget capital is estimated at 40.8 billion VND, equivalent to 13% compared to the same period last year, reaching 36.2% of the district-level plan.

Some key indicators for the first nine months of the year compared to the same period last year.

As of September 27th, the total amount of investment capital disbursed from the State budget was VND 15,802.7 billion, reaching 19.9% ​​of the 2024 capital plan.

Overall, in the first nine months of 2024, total social investment implemented in the city is estimated to have increased by 6.7% compared to the same period last year.

Mr. Mai assessed that the disbursement of public investment capital is very low. To achieve the 7.5% growth target, Ho Chi Minh City must achieve a 9% growth rate in the fourth quarter of 2024. According to Mr. Mai, this is a very challenging task.

The leaders of the Ho Chi Minh City People's Committee requested a review of unfulfilled tasks and the identification of priorities for the final quarter of 2024. In particular, all units must achieve and surpass the set goals and targets, and resolve any outstanding issues related to this year's objectives.

At the meeting, the Director of the Ho Chi Minh City Department of Planning and Investment, Le Thi Huynh Mai, stated that the Ho Chi Minh City People's Committee had previously issued a document to promote the disbursement of public investment capital, clearly outlining each task and reminding units that had not met the requirements, particularly for major projects.

In the final months of 2024, Ms. Mai suggested that each investor proactively implement the agreed-upon tasks and solutions. The Ho Chi Minh City Department of Planning and Investment will coordinate with central ministries and agencies to resolve major investment projects that are still facing procedural obstacles.

Meanwhile, Director of the Department of Finance Nguyen Hoang Hai said that the total state budget revenue of Ho Chi Minh City in the first nine months reached 371,300 billion VND, achieving 77% of the projected target and increasing by 14% compared to the same period last year. Local budget expenditure increased by 22%, and recurrent expenditure increased by 14% compared to the same period last year.

Although budget revenue has increased, the rate is still lower than the national average and the Southeast region. Mr. Hai believes this is a matter of great concern and requires solutions to boost it.

Source: https://www.baogiaothong.vn/tphcm-giai-ngan-cham-9-thang-chi-dat-20-192241001173347653.htm