This information was given at a regular meeting on the socio-economic situation of Ho Chi Minh City in October, along with tasks and solutions for November and the rest of the year, held on the morning of October 31.
In 2024, Ho Chi Minh City aims to disburse 95% of the total VND79,200 billion in public investment capital - VND11,200 billion higher than in 2023.
However, as of October 25, Ho Chi Minh City has only disbursed VND17,200 billion, equivalent to 21.8% of total public investment capital in 2024 - still far from the target.
Previously, Ho Chi Minh City planned to disburse more than 10% in the first quarter (nearly 8,000 billion VND), 30% or more in the second quarter, and more than 70% in the third quarter to ensure it reaches over 95% in the fourth quarter.
Deputy Director of the Department of Planning and Investment of Ho Chi Minh City Pham Trung Kien said that departments and branches have simultaneously implemented many solutions to speed up disbursement progress, in which the top priority is to simplify administrative procedures.
Mr. Kien emphasized: "We have directed that the documents be processed not by day but immediately upon receipt." The Ho Chi Minh City People's Committee has also issued many directives to speed up the disbursement process, tighten discipline and resolutely handle individuals and organizations that cause obstruction.
The HCMC People's Committee has also assigned each standing member to directly supervise and direct key projects to ensure progress. Large-scale capital projects in 2024 have also been listed for special inspection and supervision.
Deputy Director of the Department of Natural Resources and Environment of Ho Chi Minh City Vo Trung Truc pointed out that the Land Law 2024, which will take effect from August 2024, has significantly affected the progress of disbursement of public investment capital, especially projects requiring site clearance.
In this context, Ho Chi Minh City will accelerate the disbursement of about VND32,000 billion in land clearance capital in the last two months of the year, including VND7,700 billion for key projects in November and more than VND25,000 billion for 48 other projects in December.
"If this process goes smoothly, the land clearance capital can be disbursed over 95% by the end of 2024," said Mr. Truc.
Currently, some project management boards in Ho Chi Minh City have been assigned large amounts of capital, but disbursement progress is still slow.
This year, the HCMC Urban Infrastructure Construction Investment Project Management Board (Urban Infrastructure Board) was assigned to disburse VND16,087 billion for 59 projects. However, by October 28, the board had only disbursed VND1,148 billion, reaching 7% of the capital plan.
The HCMC Urban Infrastructure Board said that this year, the Xuyen Tam Canal renovation project can disburse about VND12,084 billion. However, this depends on the People's Committees of Binh Thanh and Go Vap districts approving the compensation and resettlement support plan before December 15 and promptly requesting the investor to transfer the advance payment before December 20.
Similarly, the project to renovate the North bank of the Doi Canal (District 8) is likely to disburse about VND5,374 billion, mainly for compensation and resettlement support. However, the disbursement progress also depends on the People's Committee of District 8 approving the compensation and resettlement support plan before December 15 and requesting the investor to transfer the advance payment before December 20.
