Hanoi – Prime Minister Pham Minh Chinh on August 3 urged stronger determination, efforts and actions to disburse public investment as part of the Government’s main priorities.

Prime Minister Pham Minh Chinh addresses the Government's meeting in Hanoi on August 3. (Photo: VNA)

At the Government’s monthly meeting held in Hanoi, the Ministry of Finance reported that nearly 186.85 trillion VND (7.98 billion USD) of investment capital sourced from the state budget had been disbursed as of July 31, equivalent to 34.47pc of this year’s target, down slightly from the same period last year.

Some central agencies and 11 provincial-level localities recorded a disbursement rate of over 50pc. Meanwhile, 41 of the 51 ministries and central agencies, and 18 of the 63 localities, saw a rate below the nationwide average of 34.47pc.

PM Chinh said the disbursement of public investment is a difficult task, so it has been continually prioritised by the Government.

Over the last five years, the seven-month disbursement rate often stood at around 35 - 40pc. It was relatively high in 2020 and 2021. But this year, apart from medium-term investment capital, funding for the socio-economic recovery and development programme also needs to be disbursed.

Therefore, strong determination, efforts, and actions are required, he stressed.

He demanded ministers, heads of sectors, and chairpersons of provincial-level People’s Committees to promote their role and sense of responsibility towards the work.

The PM assigned duties to ministries, sectors and localities, noting that after the meeting, the Government will issue a resolution on boosting the disbursement, as well as the national target programmes on poverty reduction, new-style countryside building, and socio-economic development in ethnic minority and mountainous areas.