Gov't taskforce proposed to deal with unfinished projects

Jun 14, 2021 / 09:45 PM

Projects lagging behind schedule are those financed by the official development assistance (ODA), preferential loans, foreign direct investment (FDI) and under the public-private partnership (PPP) mechanism.

The Ministry of Planning and Investment (MPI) has proposed the setup of a government’s taskforce to address difficulties in investment projects that have faced delays nationwide.

North-South expressway project. Photo: Tran Dung

The move came following a request from Prime Minister Pham Minh Chinh in early February on establishing a taskforce to deal with such projects.

The projects experiencing delays are those financed by the official development assistance (ODA), preferential loans, foreign direct investment (FDI) and under the public-private partnership (PPP) mechanism.

According to the MPI, investment projects in provinces/cities have been a focal point in attracting social resources for development. However, due to different reasons, many projects have not been implemented or lagged behind schedule, even for few decades.

“Such issues have led to the waste of land resources and public frustration, while becoming a bottleneck in investment for socio-economic development” stated the ministry.

“A comprehensive review of unfinished and delay projects is, therefore, necessary to clear the hurdle for development in each locality,” it added.

The MPI suggested the Deputy Prime Minister Pham Binh Minh to lead the taskforce, with minister and vice ministers of the MPI as deputy heads.

Other members would be senior officials at government agencies involving in investment projects or administering the investment procedures.

In the first five months of this year, disbursed amount of public investment stood at VND102.02 trillion (US$4.43 billion), down by 25% compared to the same period of last year and equivalent to 22.12% of the year’s target.

The disbursement rate of projects financed by ODA funds was estimated at only 3% during the period, for which the Ministry of Finance have been urging localities to transfer funds from projects with slow disbursement progress to those with higher pace.

Shortage of input materials, which resulted in higher prices, and the Covid-19 outbreak in a number of provinces/cities were cited by the government as contributing factors to the slowdown in the implementation of public investment projects.

PM identifies anti-corruption a key in public investment

21 May, 18:13

State fund should be channeled into key projects of national priority, which has high spillover effects and create room for development.

Vietnam allocates US$120 billion for public investment in 2021-25 period

12 Mar, 13:39

The state fund would first be channeled to major infrastructure projects that serve as a boost for socio-economic development and lay the foundation for the economic growth in the next five-year period.

Hanoi mayor calls for completion of public investment targets

25 Dec, 16:04

To ensure that the city stays on track to realize the public investment target for this year, the Hanoi’s Mayor requested local authorities to push for speedier construction progress and finalization of payment procedures for completed work items.

Inclusive innovation must give everyone equal voice, experts say at TECHFEST Vietnam 2025

Open innovation is becoming a cornerstone of Vietnam’s development strategy, as policymakers, experts and international partners emphasize people-centered collaboration to tackle inequality, climate change and urbanization through inclusive, technology-driven solutions showcased at TECHFEST Vietnam 2025.

14 Dec, 02:17 AM

Vietnam attracts $400 million in venture capital as tech startups surge

Vietnam’s startup ecosystem continues to expand rapidly, with strong venture capital inflows and fast growth in digital, AI and green technologies, reinforcing the country’s appeal to global investors.

13 Dec, 04:40 PM

Vietnamese policymakers push for early launch of gold exchange

A transparent gold exchange would not only offer a safe investment channel for the public but also provide a foundation for Vietnam to become a regional hub for jewelry manufacturing and exports.

12 Dec, 04:05 PM

Rosatom commits to advanced-technology Ninh Thuan 1 nuclear plant in Vietnam

Rosatom will transfer technology, localize nuclear products in Vietnam and support the development of the country’s nuclear science and industry for peaceful purposes.

12 Dec, 03:38 PM

Hanoi accelerates innovation reforms to become favorite destinations for investors, technology talents

Hanoi is pushing forward a wide range of innovation-driven reforms and investment initiatives as it works to become one of the world’s most attractive destinations for high-tech and strategic investors.

11 Dec, 10:02 PM

Vietnam mulls sharp rise in casino entry fee for locals

Such higher rates are intended to discourage individuals without adequate financial capacity from entering casinos.

09 Dec, 03:24 PM

Vietnam’s export strength in 2025 builds solid momentum for 2026 growth

With trade turnover nearing the US$900-billion mark, Vietnam enters 2026 with renewed confidence despite global volatility, rising trade barriers and shifting supply chains. Deputy Director of the Import–Export Department Tran Thanh Hai has outlined the drivers of this growth and the priorities for sustaining momentum next year.

08 Dec, 10:00 PM

Vietnam sets new trade record as import–export turnover nears $840 billion

Vietnam recorded its highest-ever trade performance in January-November as import–export turnover surged, driven by strong export growth and a continued trade surplus.

08 Dec, 06:22 PM