HCMC – HCMC Chairman Phan Van Mai has issued an urgent dispatch urging municipal departments and agencies to speed up the disbursement of public investment capital as the city’s disbursement rate has reached a mere 0.52% of the total planned for all of 2023 by the prime minister.

As of February 28, the city had disbursed VND369 billion from the total allocated capital, reaching just 1% of the full-year target set by the municipal government, the local media reported.

To achieve a disbursement rate of at least 95% in 2023, as targeted by the prime minister, the HCMC government assigned the municipal departments, grassroots authorities and the HCMC Management Board of Investment and Construction of Projects to promptly complete all relevant procedures and remove obstacles to capital disbursement.

The HCMC Department of Planning and Investment was told to work with relevant units to review and check the disbursement process and pace and urge investors to expedite work on projects to ensure the city’s public capital disbursement is on schedule.

In 2023, VND70 trillion was already allocated to HCMC for public investment.

The city disbursed over VDN26.6 trillion in public investment capital last year, meeting 71.3% of the total VND37.37 trillion allocated by the central Government.