Disbursement of public investment accelerates
Public investment continues to be an important driving force to complete the 2026 economic growth target. With a budget capital of more than 1 million billion VND, the highest level ever, accelerating disbursement will contribute to stimulating aggregate demand, creating jobs, attracting social investment and improving long-term growth capacity.
According to the Ministry of Finance, as of June 30, 2026, the whole country disbursed 356.9 trillion VND of public investment capital, reaching 35.5% of the plan assigned by the Prime Minister, an increase of about 38.4 trillion VND compared to the same period in 2025. Disbursement progress also accelerated in June with about 137.6 trillion VND disbursed, 13.9% higher than the previous month.
Rapid disbursement must be linked to investment efficiency
Mr. Le Thanh Quan - Director of the Infrastructure Development Department, Ministry of Finance - said that public investment continues to play the role of "bait capital", leading and attracting social resources, contributing to maintaining double-digit growth and transforming the growth model in depth.
According to Mr. Quan, although the disbursement progress has had positive changes, the results between ministries, sectors and localities are still not uniform. The major bottlenecks currently are the lack of supply of construction materials, the coordination of materials between regions not meeting demand, fluctuations in gasoline and oil prices and transportation costs, along with obstacles in site clearance.
The quality of investment preparation in some projects is still limited, the plan is not realistic, so capital must be adjusted or returned. The capacity and responsibility of some investors, project management boards, and contractors are still weak; many communes and wards lack specialized officials for public investment.
Mr. Le Thanh Quan said that rapid disbursement is only a necessary condition, the ultimate goal is to improve investment efficiency. If the project is prolonged, adjusted many times or slow to put into operation, it will increase costs, reduce capital use efficiency and adversely affect the ICOR coefficient - an indicator reflecting the level of investment efficiency for economic growth.
To complete the target of disbursing public investment capital in 2026, and at the same time gradually bring the ICOR coefficient for the 2026-2030 period down to 4.5-4.8, the leader of the Infrastructure Development Department believes that there needs to be close coordination between ministries, sectors and localities in organizing the implementation and synchronous deployment of long-term vision solutions to improve the efficiency of capital use.
Continue to improve the legal system on public investment; improve the quality of planning, investment preparation and project selection; focus resources on regional and inter-regional connecting projects with large spillover effects and create new growth momentum.
Along with that, it is necessary to improve the responsibility of heads; remove bottlenecks in materials, site clearance and project management personnel; regularly review and transfer capital from slow-progress projects to projects with good progress. At the same time, innovate public investment management in the direction of taking investment efficiency as a measure, strictly controlling the adjustment of total investment, extending implementation time and promoting digital transformation to improve the quality of planning, supervision, investment evaluation as well as disbursement management.
The disbursement of public investment capital is still low and uneven in localities, which has caused the contribution of public investment to growth not to meet expectations.
Investment demand must be stimulated by promptly resolving problems and increasing the responsibility of heads in disbursing public investment capital, striving to disburse 100% of the set plan" - Dr. Can Van Luc - Chief Economist of BIDV - affirmed.
