In 2024, Ho Chi Minh City aims to disburse 95% of the total VND79,200 billion in public investment capital.
However, as of January 15, 2025, Ho Chi Minh City has only disbursed VND 56,630 billion, reaching 71.4% of the annual plan.
The bright spot is that the allocated capital for site clearance is over VND35,000 billion, of which 98.36% (equivalent to VND34,400 billion) has been disbursed to date. However, the construction capital has been disbursed slowly, causing the total disbursement rate to only reach 71.4%, while the target by the end of January 2025 is 81%.
In 2025, Ho Chi Minh City was assigned a plan to disburse up to VND85,000 billion in public investment capital. Combined with more than 20% of the undisbursed capital from 2024 carried over, the city aims to disburse a total of VND105,000 - 110,000 billion, the highest figure ever.
To overcome the situation of capital accumulation at the end of the year, Ho Chi Minh City has proposed a specific disbursement roadmap: Quarter I/2025 must reach 15% or more; Quarter II must reach 35% or more; Quarter III must reach 70% or more and Quarter IV must reach 95%.
Chairman of the Ho Chi Minh City People's Committee Phan Van Mai emphasized that with 105,000 - 110,000 billion VND needing to be disbursed in 2025, the city must be proactive from the beginning of the year, not falling into the situation of work being pushed to the end of the year as before.
Currently, Ho Chi Minh City has allocated nearly 67,400 billion VND since the end of 2024. The remaining capital must be fully allocated in the first quarter of 2025 so that units have enough time to implement.
The Chairman of the Ho Chi Minh City People's Committee requested that localities must not let the situation of "slowly starting the year and passively ending the year" happen.
In addition, Ho Chi Minh City will transfer a number of projects from city-level project management boards to district and Thu Duc City levels to speed up implementation.
The Chairman of the City People's Committee assigned the task of completing site clearance for projects from 2024 to before May 2025.
New projects must hand over the site no later than September 2025 to start construction. As for the Xuyen Tam canal dredging and renovation project, the city is committed to starting construction on schedule on April 30, 2025.
In addition, Ho Chi Minh City will promote the application of digital technology for more effective management. Mr. Phan Van Mai pointed out that the Ring Road 3 project had an estimated cost 8,000 - 9,000 billion VND higher than the actual cost, while the Ring Road 2 project also increased its cost by thousands of billions of VND due to loose management.
"In the near future, Ho Chi Minh City will relocate tens of thousands of houses on and along canals. If not managed well, it will be very difficult to implement," Mr. Phan Van Mai emphasized.
In disbursement of public investment, the Chairman of the Ho Chi Minh City People's Committee affirmed that the investor plays the number 1 role, the district is number 2, the relevant departments are number 3, the standing agency is number 4, and the standing committee of the City People's Committee and the responsible staff are number 5.
To avoid delays, Mr. Phan Van Mai requested to apply the 1-3-7 process: Within 1 day, tasks must be assigned to the person in charge; within 3 days, there must be an initial progress report; within 7 days, it must be completed or a valid reason given if not completed.
The Ho Chi Minh City Department of Home Affairs has been assigned to closely monitor this process. Any unit that fails to comply will be held accountable.
"In recent years, Ho Chi Minh City has not had a year where the disbursement rate reached 95%. In 2025, all localities and units must be proactive every week and every month to achieve this goal," the Chairman of the Ho Chi Minh City People's Committee emphasized.
