Vietnam to allocate over 31 bln USD for public investment in 2025

HANOI, Oct. 24 (Xinhua) — The Vietnamese government has proposed allocating some 791 trillion Vietnamese dong (31.1 billion U.S. dollars) for public investment in 2025, Vietnam News Agency reported Thursday.
The government’s report, recently sent to the National Assembly Standing Committee, estimated the government’s total demand for investment of ministries, agencies and localities in 2025 at 871 trillion dong (34.2 billion dollars).
Regarding the socio-economic development plan 2025 and the medium-term public investment plan for the 2021-25 period, the government proposed that public investment capital should be 791 trillion dong next year, 120 trillion dong (4.7 billion dollars) higher than this year, said the report.
As 2025 is the final year to implement the medium-term public investment plan for the 2021-2025 period, state budget allocation will be prioritized for projects that are expected to be completed in the period and those to be started in the next.
As of the end of September, the public disbursement rate in Vietnam reached only 47.29 percent of the plan, leaving a huge workload for the last quarter, at around 350 trillion dong (13.7 billion dollars), according to the government.
The government is accelerating public investment disbursement to achieve the 95 percent disbursement goal. ■