As of October 31, total capital disbursed in Hoa Binh reached over 1.65 trillion VND (around 68 million USD), equivalent to 16% of the plan assigned by the Prime Minister. The figure is estimated to reach only 34% of the plan in 2023.


On the construction site of a road project connecting Tran Hung Dao street to Dan Chu ward in Hoa Binh city. The disbursement of public investment capital for the project is expected to be implemented on schedule.


Speeding up the disbursement of public investment, especially capital from the State budget, is important for promoting economic growth of the country in general, and Hoa Binh province in particular.

Public investment will create a solid momentum for socio-economic recovery and development after the severe and unprecedented impacts caused by the COVID-19 pandemic.

The provincial Party Committee, People's Council, and People's Committee have paid attention to directing the implementation of tasks and solutions to accelerate the disbursement of public investment in 2023.

The Chairman of the provincial People's Committee periodically holds meetings with representatives of relevant departments, sectors and localities to promptly remove difficulties and obstacles related to
investment preparation and land clearance.

However, the disbursement rate in the locality remains low, especially for the socio-economic recovery and development programme, as well as three national target programmes and official development assistance projects.

The low rate of public investment disbursement is one of the reasons behind the slowdown of GRDP growth in the locality in 2023.

The disbursement of public investment is considered a lever to promote economic growth in 2023 and the following years. The work requires a drastic action, responsibility, and close coordination among all sectors and localities, focusing on closely monitoring he implementation of each project, prioritising capital allocation for projects with rapid disbursement speed, and accelerating the progress of projects, and timely solving problems in the clearance work, and speeding up the administrative reform.


 

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