Vietnam’s public investment disbursement up 34% in eleven months

Monday, 2020-11-30 16:31:49
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Public investment in the first eleven months of 2020 is the highest during the 2011-2020 period.
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NDO - Disbursement of public investment in the first eleven months of 2020 reached VND406.8 trillion (US$17.65 billion), equivalent to 79.3% of the target for the year and up 34% over the same period in 2019.

The figures were released by the General Statistics Office (GSO), which added it was the highest during the 2011-2020 period as a whole.

The statistics agency said ministries, sectors and local authorities are focusing on dealing with hurdles to disbursement in order to accelerate the progress of projects and reach the highest possible disbursement ratio.

According to Deputy Minister of Planning and Investment Tran Quoc Phuong, stepping up public investment disbursement should be considered a key task and disbursement results form the basis for year-end assessments.

He also called for a thorough review of investment projects so appropriate measures can be taken to accelerate progress or funding can be transferred to projects in need of more investment for early completion.

The GSO also reported that total foreign investment in Vietnam in the January-November period was estimated at US$26.4 billion, down 16.9% from the same period last year.

During the period, Vietnamese enterprises also invested a total of US$490.4 million in overseas projects, up 6.9% from a year ago.