The request was made at a meeting with several ministries and the leaders of Hanoi and Ho Chi Minh City on August 19.

According to the Ministry of Finance (MOF), total public investment disbursement was estimated at VND134.494 trillion (US$5.78 billion), equivalent to 31.32% of the target set by the parliament, the lowest level in recent years.

Deputy PM Vuong Dinh Hue speaking at the conference.

The disbursement rate of domestic funds was 35% while the rate for foreign funds was only 8.6%.

Deputy PM Hue criticised the Ministry of Planning and Investment (MPI) for being slow in advising the Prime Minister on public investment allocation and not reporting details of the delays and their solutions.

He urged the MPI to submit a report to the Prime Minister before the end of August on the plans to allocate all of the unallocated VND35 trillion (US$1.5 billion) and a report on transferring funds to projects in need of capital before October 10.

In the meantime, the MOF was asked to publicise the disbursement status of each unit and work with other agencies in fund allocation and loan adjustment.

An online nationwide meeting is expected to be held by the government on September 15 to discuss the issue.

Bac Giang works to lure foreign direct investment

Removing bottlenecks of businesses will be prioritised in the northern province of Bac Giang to lure more foreign direct investments (FDI) in the coming time.

Bac Giang draws 90 investment projects in 7 months

(BGO) – In July 2019, Bac Giang province attracted total investment of 113.8 million USD, making up the total invested capital of over 658.9 million USD since early this year (up 45 percent comparing to the same period last year).

Korean firms to expand investment in electricity in Vietnam

The Republic of Korea (RoK)’s Consulate General recently revealed the country’s businesses plan to invest more in Vietnam, especially in the manufacturing of electronic equipment and developing smart grid networks.

Vietnam pledges support for Singaporean investments

The Vietnamese Government is willing to listen to opinions from Singaporean businesses and wishes they would do long-term business in the country, Prime Minister Nguyen Xuan Phuc has said.

Tan Yen draws investment to timely support enterprises

(BGO) – Tan Yen district (Bac Giang province) has recently attracted 12 – 15 investors and projects on average that greatly contributes to the local economic growth. To gain that achievement, the district has applied many new methods and facilitated the investors. 

Source: NDO