During the Friday teleconference, Prime Minister Nguyen Xuan Phuc requested that public investment capital be fully disbursed this year, viewing this as a key political task that requires the even more active involvement by relevant national agencies and the authorities of cities and provinces nationwide.

Prime Minister Nguyen Xuan Phuc delivering his instructions on the disbursement of public investment at the Friday teleconference (Photo: VNA)

The event was attended by representatives from ministry, relevant national agencies and the municipal and provincial-level authorities nationwide. Municipal Party Committee Deputy Secretary Nguyen Van Quang, municipal People's Committee Vice Chairman Tran Van Mien and municipal People's Council Chairman Nguyen Nho Trung were among the participants in Da Nang.

It was reported at the event that nearly 45% of Viet Nam's national public investment fund is likely to be disbursed by the end of August.  Nearly 455.5 trillion VND (19.8 billion USD) from the national government's budget has been earmarked for eligible projects.

If the national public investment fund is fully disbursed, Viet Nam's economy could grow by 1%. The national government chief, therefore, asked  31 ministries and government agencies, and 13 localities with disbursement of less than 35% and 15% respectively to ensure that their public investment fund are fully disbursed within this year.

It is high time to take more drastic actions in an effort to quickly remove any barriers and difficulties to step up public investment disbursement efforts, Minister of Planning and Investment Nguyen Chi Dung said.

Da Nang Committee Deputy Secretary Nguyen Van Quang (left) and municipal People's Committee Vice Chairman Tran Van Mien participating the Friday eleconference chaired by Prime Minister Nguyen Xuan Phuc

Statistics released by the Da Nang Department of Planning and Investment show that Da Nang has disbursed 3,718 billion VND in public investment fund so far this year,, fulfilling 49% and 30% of the national and municipal government-set targets respectively, an increase of 1,582 billion VND compared to the same period last year.

Till date, work has started on many such key projects in Da Nang as the construction of a bridge spanning the Co Co River in Ngu Hanh Son District’s Hoa Hai Ward, re-arrangement of traffic at the western end of the Tran Thi Ly Bridge, a ring road in the western part of the city under the Da Nang Transport Project which uses loans from OFID - the OPEC Fund for International Development, the Hoa Lien Water Supply Plant, the specialist centres of  Neurosurgery, Burns, and Reconstructive Surgery, and Organ Transplant and Stem Cell Therapy at the Da Nang General Hospital, and the upgrade of the Khanh Son landfill. 

The Da Nang government forced to shut down local construction sites between late July and mid-this month to respond to Covid-19 after the city embraced for a second wave of Covid-19 infections late July. This caused the delay in the disbursement of the city's public investment fund and the figure has only reached only 87.87 billion VND so far this year. 

By THANH LAN- Translated by A.T