Vinh Phuc urged to accelerate public investment disbursement

He noted that the province should quickly settle payments for already completed projects while focusing resources on the projects with a greater likelihood of being completed this year.

The Deputy PM said that Vinh Phuc should be resolute in transferring funds from projects with low disbursement rates to more feasible ones so that it can achieve the disbursement target for 2020.

Binh underlined that accelerating public investment disbursement must be considered a key task in 2020 while actively removing the difficulties or proposing solutions to the agencies concerned.

As of August 21, Vinh Phuc’s public investment disbursement reached 56.85% of the full-year target and is expected to hit 73.8% by the end of the third quarter.

At the meeting with provincial leaders, Deputy PM Binh also urged the province to honestly look at its shortcomings and introduce coping measures in the coming time.

In the first half of 2020, Vinh Phuc’s foreign investment-reliant economy contracted by 2.7% as the coronavirus forced the closure of many factories. Its government revenue and foreign direct investment also fell sharply.