PM sets target of disbursing at least 95% of public investment capital this year
Prime Minister Pham Minh Chinh urged the acceleration of public investment disbursement, striving to disburse at least around 676 trillion VND (27.8 billion USD) or 95% of the target this year while chairing an online meeting in Hanoi on November 27 between permanent Government members and ministries, agencies and localities.
The meeting between permanent Government members and ministries, agencies and localities on November 27 (Photo: VNA)
Hanoi (VNA) ☂– PrimeMinister Pham Minh Chinh urged the acceleration of public investment disbursement, striving to disburse at least around 676 trillion VND (27.8 billion USD) or 95% of the target this year while chairing an online meeting in Hanoi on November 27 between permanent Government members and ministries, agencies and localities.
In the first 11 months of this year, nearly 461trillion VND (19.2 billion USD) in public investment capital was disbursed,reaching 65.1% of the target, or 6.77% higher than the same period last year.Though the figure was better than last year, 41 ministries and centrally-run agenciesalong with 24 localities posted disbursement rates lower than the nationalaverage.
PM Chinh said while there is just over one month left to conclude the fiscalyear 2023, there is still a considerable amount of funding in need of disbursement,roughly 247 trillion VND (10.2 billion USD). He urged ministries, agencies andlocalities to elevate the spirit of overcoming difficulties to fulfil the new target of at least 95%.
💫 Toachieve the goal, they were asked to follow the directives of the Party, State, National Assembly and Governmentleaders, the Government’s resolutions regarding the work, whichshould be accompanied by ensuring the quality of projects and combating corruptionand wastefulness.
Ministries were assigned to remove difficulties, includingthose related to three national target programmes in order to strengtheninspection and supervision while urging investors, contractors and consultantsto accelerate project progress. Theywere also responsible for thoroughly checking the project preparation, selectingprojects for capital allocation, paying attention to the design, bidding,construction and payment procedures. Additionally, efforts must be intensified inadministrative reform, application of information technology, and digital transformationin public investment. The Governmentleader also requested maintaining the activities of the Government’s fiveworking groups and the quarterly working session mechanism between Governmentmembers and localities. He emphasised the continuation of special workinggroups led by the Chairpersons of the People's Committees of provinces topromote public investment./.
Vietnam is striving to accelerate the disbursement of public investment in the remaining months, which will create a driving force for economic growth.
Public investment is expected to be an engine for Vietnam’s economic growth in the context that global headwinds may challenge the country’s growth target of 6.5%, according to experts.
The structure of public investment capital in the last few years has changed in line with Vietnam’s economic reforms, boosting the restructuring of industries, and regions as well as balancing socio-economic development and social welfare, said Minister of Planning and Investment Nguyen Chi Dung.
As of October 31, the disbursement of public investment was estimated at over 401.86 trillion VND (16.37 billion USD), completing 52.1% of the set plan and 56.84% of the target assigned by the Prime Minister, the Ministry of Finance reported.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
The meeting between permanent Government members and ministries, agencies and localities on November 27 (Photo: VNA) 
