Hà Nội’s public investment disbursement rate reaches 21 per cent, well below target

Vĩnh Tuy 2 Bridge, one of key transport projects in Hà Nội. VNA/VNS Photo

HÀ NỘI - Hà Nội’s public investment disbursement rate has reached 21.2 per cent as of June 15, falling far behind the whole year target of 95 per cent, the 18th meeting of the Executive Committee of the Hà Nội Party Committee was told on Tuesday.

Nguyễn Mạnh Quyền, vice chairman of the municipal People’s Committee, said the city’s public investment capital allocated for this year was over VNĐ81 trillion (US$3.1 billion). As of June 15, more than VNĐ17.1 trillion had been disbursed.

He said to hit the target of disbursing 95 per cent of public investment in 2024, the city needed to take drastic measures.

Local authorities proposed adjusting public investment plans this year to accelerate the disbursement rate, he said.

Investment would need to be prioritised for projects with higher disbursement rate, urgent or key projects, or those in culture, education and relics.

The city’s authorities decided to increase capital of over VNĐ2.5 trillion for 202 tasks and projects that have maintained good disbursement rate, including the second phase of the Vĩnh Tuy Bridge.

Vice chairman Quyền said the city People’s Committee proposed VNĐ81.4 trillion for the public investment capital in 2025, an increase of over VNĐ358.9 billion compared to this year.

From this about VNĐ48.6trillion would be allocated for the city level public investment projects in 2025, including from ODA sources and the State and city budgets.

Priority would be given to capital spent on key projects such as Ring Road 4, the Yên Xá wastewater treatment system, the project to build a pilot railway line (Nhổn – Hà Nội Station) and the South Thăng Long – Trần Hưng Đạo urban railway project. VNS