Speeding up public investment disbursement in 2016

Monday, 2016-07-11 12:02:16
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NDO – The Government has issued Resolution No. 60/NQ-CP on accelerating the progress of public investment disbursement in 2016.

The Government asked ministries and agencies to rapidly address capital allocation procedures; quickly and effectively deal with all formalities related to basic construction investment and allocate all capital as planned; immediately issue mechanisms to regulate the national target programmes; and speed up land clearance to boost the progress of projects.

Ministries and sectors were urged to review the responsibilities of those in charge of public investment disbursement and issue strict penalties for any delays, such as ending capital or replacing unqualified contractors.

In the first six months of this year, the disbursement of public investment capital has been moving at a slow pace in comparison to the target.

Ministries, sectors and localities have disbursed approximately VND81.8 trillion (US$3.6 billion) of public investment capital in the first five months of this year, completing 32.6 per cent of the disbursement plan for 2016, according to the Ministry of Planning and Investment.

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