Hanoi targets disbursement rate of public funds over 95% by year-end: Mayor
The strong performance of public investments is required for Hanoi to realize the economic growth target of 4.5-5% for this year.
The strong performance of public investments is required for Hanoi to realize the economic growth target of 4.5-5% for this year.
The city is putting a focus on accelerating the progress of priority projects at a time when the pandemic situation has improved.
A strong finish in 2021 would lay the foundation for Hanoi to continue its development plans in 2022 and subsequent years.
Hanoi will focus on major and urgent public projects in the fields of transportation, socio-economic development, culture, and education.
Leaders’ attention to public investment is of significance, regardless of the size of the project, said a senior official.
Public investment, exports, and domestic consumption continue would be the three key factors for Vietnam’s economy this year.
Leaders from localities and ministries are set to face strict punishment in case the disbursement of public funds is behind schedule.
Each province/city is expected to set up task forces specialized in speeding up public investment.
Strong efforts from the city helped avoid disruption to industrial production amid the Covid-19 outbreak.
Manufacturing and processing continue to be key driving forces for the growth, making up 25% of the GDP.