Vietnamese Prime Minister required both to ensure a high disbursement rate of public investment capital and the right quality and efficiency of projects.

While the real estate market is gloomy and realtors need capital, some enterprises are developing projects with investment capital of trillions of VND.

Minister of Planning and Investment Nguyen Chi Dung has said that projects under the economic recovery program have been going slowly because many projects have to be revised.

Over 28.8 trillion VND (1.25 billion USD) from the socio-economic recovery and development programme has yet to be allocated, Minister of Planning and Investment Nguyen Chi Dung told the National Assembly Standing Committee’s meeting on February 13.

The Ministry of Transport's Department of Planning and Investment Director Bui Quang Thai said the plan on disbursing VND94.14 trillion for projects with completed procedures has been determined.

The Government has tasked the Ministry of Transport with disbursing nearly VND94.2 trillion of public investment in 2023, up 1.7-fold against the 2022 figure and 2.2-fold versus 2021.

More than VND638 trillion in public investment capital for this year has been allocated, reaching over 90% of the target set by the Prime Minister, according to a Ministry of Finance report.

Many companies in HCM City have reported high growth rates, which can be seen in the high Tet bonuses being offered to their workers. They now need support in capital and market information.

Overall, the disbursement of public investment was 58.33 per cent as of the end of November, leaving a huge workload for the remaining days of this year.

Total public investment to be delivered in 2023 is expected to top VND730 trillion ($31 billion), higher than the realised figure of VND540 trillion in 2022.

Disbursements of public funds sourced from foreign loans in the year through November had moved at a snail’s pace, reaching only slightly more than 25% of the full-year plan.

The Vietnamese government is continuing to promote infrastructure development with the construction of expressways and new bridges, in efforts to spur socioeconomic development and welcome new private investment.

If transport projects do not proceed on schedule, managers need to prepare to resign, Transport Minister Nguyen Van Thang has said.

Minister of Finance Ho Duc Phoc pointed out problems in the Law on Public Investment at the ongoing National Assembly session.

According to the Ministry of Planning and Investment by the end of last month VND66.3 trillion from the programme was disbursed.

Analyst’s Pick: Besides making all-out efforts to have better preparation, heads of ministries and localities should be free of wariness and dare to take risks.

Some ministries, agencies and localities have given back public investment capital as they had not used up the capital.

Several State agencies, ministries, cities and provinces have proposed returning thousands of billions of Vietnamese dong of the allocated 2022 public capital due to slower-than-planned disbursements.

Only 50 percent of public capital was disbursed in January-September 2022, but in September alone, the figure was VND40.92 trillion, or 1.5 times higher than the average in the first eight months.

The government has submitted a report to the National Assembly on public debt in 2022 and predictions for 2023.