THE SOCIALIST REPUBLIC OF VIET NAM
Government News
Prime Minister demands faster disbursement of public investment capital
VGP - Prime Minister Pham Minh Chinh demanded faster pace of public investment capital disbursement while chairing the Cabinet meeting on Thursday.
The Cabinet's first regular monthly meeting for 2023 in Ha Noi, Feburary 2, 2023 - Photo: VGP
Pham emphasized the need to enhance supervision and implementation of key, crucial and large-scale transport projects.
The disbursed volume of public investment capital sourced from the State budget reached VND445.9 trillion (over US$18.18 billion) in the first 11 months of 2022, equivalent to 74.9 percent of the year's target and up 19.9 percent from the same period of 2021, according to the General Statistics Office (GSO).
In December last year, the National Assembly adopted the 2023 public investment plan with around US$31.5 billion in total investment, a year-on-year rise of 25 percent and US$11.3 billion higher than that in 2021.
The Government considers public investment as a significant factor driving economic growth this year. It aims to reach an annual growth rate of 6.5 per cent and an inflation rate of 4.5 per cent in 2023.
GDP per capita is expected to top US$4,400 and the manufacturing sector would contribute to around 25.4 to 25.8 per cent of the national output./.