Vietnamese Prime Minister urges acceleration of public investment

Minh Chin emphasized during a teleconference that the global situation continues to develop in a very complex, rapid and unpredictable manner, while the country’s resistance to external shocks is still limited, which requires courage and flexibility in managing social and economic development.

He pointed out that for this reason, the executive branch decided to identify public investments and effective implementation of the development plan, social and economic recovery, and national goals programs as major tasks for this year.

These are important tasks in terms of economic, political, social, defense and national security, contributing to creating a base for social and economic infrastructure and opening new spaces for development, the head of government said, quoting VNA news agency.

In addition, it will improve communication, maintain macroeconomic stability, eradicate hunger and reduce poverty, enhance synergies in the country, and generate momentum for rapid recovery and sustainable progress.

The prime minister indicated that the public investment capital planned for 2023 amounts to about $30 billion, more than $5 billion compared to last year, which means more work and more demands on quality and efficiency, and he also called for striving to achieve this. Disburse at least 95 percent of the plan.

At the beginning of this month, at a meeting of the Vietnamese government headed by Minh Chinh, it was learned that in the first month of the year, the amounts liquidated from the state budget were estimated at 1.15 billion dollars, of which 972 million dollars. for the fund administered by the governorates.

The country’s two economic locomotives, Hanoi and Ho Chi Minh City, recorded the highest level of public investment spending in the country in January, at $115 and $70 million, respectively.

According to the data of the General Statistics Office, the spent capital of the state at the end of last December amounted to 23.7 billion dollars, equivalent to 95.99 percent of the plan set by the Prime Minister.

The National Assembly (parliament) of Vietnam for 2023 approved a public investment program with a total capital of nearly $29.85 billion, of which $4.01 billion (1.7 times more than the previous year) was allocated to the Ministry of Transport.

jcm/mpm