Vietnam’s Public Investment Disbursement In Nine Months Reaches Highest Rate Ever
HANOI, Oct 6 (NNN-VNA) – Vietnam’s disbursement of public investment, in the first nine months of this year was estimated at 51.38 percent of the yearly plan, the highest rate ever, it was reported today, citing the Ministry of Planning and Investment.
The disbursed capital, sourced from the state budget, during the Jan-Sept period topped 363 trillion Vietnamese dong (14.89 billion U.S. dollars), up 46.7 percent from the same time last year.
Deputy Minister of Planning and Investment, Tran Quoc Phuong said, public investment disbursement in nine months has never exceeded 50 percent in the previous years, but this year it has surpassed this level.
Citing that the capital that needs to be disbursed in 2023 is huge, he said, the disbursement of 51.38 percent in nine months is a positive sign.
According to the Vietnamese government, localities aim to disburse 95 to 100 percent of public investment for the whole year.
Public investment is an important booster for economic growth in 2023, and the coming years. The disbursement of 95 percent of public investment will spur the GDP to rise 1.3 percent, economist, Nguyen Bich Lam, former general director of the General Statistics Office, was quoted as saying.