Hanoi (VNA) - Hanoi is currently in a crucial phase of public investment disbursement, striving to maximise funding allocation so as to improve the efficiency of capital utilisation, accelerate🅠 the development of infrasꦑtructure, and enhance the capital city's competitiveness.

According to data from the State Treasury of Hanoi, as of October 31, the city had achieved 40.1% of its disbursement plan for basic construction assigned by the Prime Minister. In 2024, the total public investment allocated to Hanoi is set to increase by 53% compared to 2023. While these results are commendable, the volume of work required to meet the disbursement deadline remains substantial. To achieve the goal of over 95% of disbursement, the municipal People's Committee has directed agencies, particularly those with large capital allocations, to take swift actions in project construction, strengthen strict discipline, and prompt settlement of obstacles and difficulties. Additionally, agencies are urged to expedite payments as soon as work is completed, include public expenditure control in the responsibilities of the leaders of units, and publicly disclose monthly disbursement results. The municipal Department of Planning and Investment reported on October 25 that there are still 33 agencies that have not met their commitments for public investment disbursement. The total amount needed to be disbursed in the remaining months of this year is 44.9 trillion VND (1.77 billion USD), or 55.4% of the planned capital. Chairman of the Hanoi People's Committee Tran Sy Thanh recently issued a directive on accelerating the disbursement of public investment in the last months. Therefore, units that are slow in disbursement are urged to promptly review their processes, rectify existing issues, and implement all necessary measures to expedite the completion of public investment disbursement tasks for 2024./.