The slow disbursement of capital has stalled many projects, affecting socio-economic development.
Answering National Assembly deputies at the Steering Committee’s session in mid-August, Minister of Planning and Investment Nguyen Chi Dung admitted that agencies were dilatory in disbursing capital in the first months of year and they only geared up in the last months. The reason explains the slow disbursement rate in the first eight months of 2019.
|The slow disbursement lessens capital use efficiency, affects economic growth, business and investment environment and economic contracts that Vietnam has signed.|
“As public projects cannot be developed, private invested works will also be at a standstill,” he added. “In general, when the money is in coffer, it is the ‘dead capital. “
“The private sector is an important part of the national economy. If the development of the sector gets stuck, national growth will be affected,” he warned.
Disbursement of foreign direct investment saw a positive yearly increase of 7 percent to nearly $12 billion in the first eight months of this year, despite a fall in new FDI registered in Vietnam.
Deputy PM Pham Binh Minh met with UN Resident Coordinator in Vietnam Kamal Malhotra, WB Country Director for Vietnam Ousmane Dione and Dutch Ambassador to Vietnam Elsbeth Akkerman yesterday to discuss the disbursement of ODA projects.
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