Ho Chi Minh City disburses slowly, only reaching 20% ​​in 9 months

On the afternoon of October 1, the Ho Chi Minh City People's Committee held a regular socio-economic meeting for September and the first 9 months of the year. At the meeting, Mr. Phan Van Mai, Chairman of the Ho Chi Minh City People's Committee, assessed the goals and tasks set in the past time.

Disbursement of public investment capital in the first 9 months of 2024 only reached nearly 20%. Photo: MQ

According to Mr. Mai, although the city has basically maintained its growth rate, there has been no breakthrough.

Regarding investment capital for basic construction and major repairs from the State budget managed by localities, it is estimated that in September 2024, it will reach VND 4,875.5 billion, up 4.6% over the previous month and down 6.1% over the same period.

Of which, the city-level budget capital is estimated to be 4,871 billion VND, down 5.6% over the same period; the district-level budget capital is estimated to be 4.5 billion VND, equal to 12.6% over the same period (because the District-level budget capital plan in 2024 is only 16.8% of that in 2023).

In the first 9 months of 2024, investment in basic construction and major repairs from the State budget managed by localities is estimated at VND 30,190 billion, an increase of 0.2% over the same period (VND 30,138.1 billion in the first 9 months of 2023).

The city-level budget capital is estimated to be 30,149.2 billion VND, up 1.1% over the same period, reaching 38% of the Prime Minister's Plan; the district-level budget capital is estimated to be 40.8 billion VND, equal to 13% over the same period, reaching 36.2% of the district-level Plan.

Some key indicators for the first 9 months of the year compared to the same period last year.

As of September 27, the total disbursed investment capital from the State budget was VND 15,802.7 billion, reaching 19.9% ​​of the 2024 Capital Plan.

In the first 9 months of 2024, the total social investment capital implemented in the city is estimated to increase by 6.7% over the same period.

Mr. Mai assessed that the disbursement of public investment capital is very low. To achieve the growth target of 7.5%, Ho Chi Minh City must grow by 9% in the fourth quarter of 2024. According to Mr. Mai, this is a very heavy task.

The leaders of the City People's Committee requested to review the unfinished work and determine the focus for the last quarter of 2024. In particular, units must achieve and exceed the set goals and targets, and resolve the targets for this year.

At the meeting, Director of the Department of Planning and Investment of Ho Chi Minh City Le Thi Huynh Mai said that previously, the People's Committee of Ho Chi Minh City had issued a document promoting the disbursement of public investment capital, clearly stating each task, reminding units that have not yet met the requirements, and each major project.

In the last months of 2024, Ms. Mai requested that each investor proactively implement the agreed tasks and solutions. The Ho Chi Minh City Department of Planning and Investment will coordinate with central ministries and branches to resolve major investment projects that are still stuck in procedures.

Meanwhile, Director of the Department of Finance Nguyen Hoang Hai said that the total state budget revenue in the first 9 months of Ho Chi Minh City reached 371,300 billion VND, reaching 77% of the estimate and increasing by 14% over the same period. Local budget expenditure increased by 22%, regular expenditure increased by 14% over the same period.

Although budget collection has increased, the rate is lower than the whole country and the Southeast region. Mr. Hai said that this is a very concerning issue and needs to be promoted.

Source: https://www.baogiaothong.vn/tphcm-giai-ngan-cham-9-thang-chi-dat-20-192241001173347653.htm