Hanoi targets to disburse 100% of the target amount this year to aid the city’s economic development.
![](http://media.hanoitimes.vn/2021/05/14/logo_hntimes.png)
Hanoi has spent VND22.1 trillion (US$961.4 million) worth of public investment in the first seven months of this year, up 2.8% year-on-year and equivalent to 48.6% of the year’s target, according to the municipal Statistics Office.
Ring Road No.3 project, section Mai Dich elevated road - Thang Long bridge, is scheduled to be completed in September. |
In July, the city disbursed VND4.45 trillion (US$193.63 million), up 3.2% month-on-month and 2.1% year-on-year.
Among major infrastructure projects in Hanoi, the Ring Road No.3 project, section Mai Dich elevated road – Thang Long bridge with length of 5.5 kilometers, which is one of Hanoi’s key projects in the 2016 – 2020, is scheduled to be completed in September to mark the 1010th anniversary of Thang Long – Hanoi.
The Ring Road No.2 project, section Nga Tu So – Vinh Tuy elevated road, is expected to be finished by the end of 2021.
Hanoi’s authorities are speeding up the construction progress of other projects including an overpass at the Hoang Quoc Viet – Nguyen Van Huyen junction; Ring Road No.3 crossing Linh Dam lake; and Yen Xa waste water treatment plant, among others.
Hanoi targets to disburse 100% of the target amount this year to aid the city’s economic development.
To speed up disbursement of public investment funds, including ODA, Hanoi has been implementing a number of measures since the beginning of the year, including a review of the existing legislation to specify responsibilities of local agencies.
Public investment is considered Hanoi’s top priority to ensure economic recovery in the post Covid-19 pandemic era.
Hanoi's Party chief Vuong Dinh Hue previously suggested that the city should set up a tasks force with the aim of speeding up the disbursement progress, and each process must be tied to individuals' responsibility.
In the first seven months of this year, the Vietnamese government has disbursed VND203 trillion (US$8.83 billion) worth of public investment, equivalent to 42.7% of the year’s target and up 27.7% year-on-year.
This year, Vietnam is expected to disburse VND700 trillion (US$30 billion), more than double the actual amount in 2019 of VND312 trillion (US$13.4 billion).
Other News
- Legal tools required to tackle air pollution issues in Hanoi
- General Secretary Nguyen Phu Trong leaves profound personal legacy
- Hanoi Party Committee, government pay tribute to martyrs, war invalids
- Hanoi officials pay tribute to General Secretary
- How fake news hooks us?
- General Secretary Nguyen Phu Trong and his lasting legacy in the hearts of Hanoi's citizens
- Lowering flag to half-mast in National Mourning for General Secretary Nguyen Phu Trong
- New legal framework enables Hanoi’s transformation
- Beloved Party Chief in hearts of Dan Phuong People
- Experts advise Hanoi to use AI to prevent fires
Trending
-
State Funeral held for Communist Party Chief Nguyen Phu Trong
-
Vietnam news in brief - July 26
-
Legal tools required to tackle air pollution issues in Hanoi
-
How fake news hooks us?
-
South Korean writer spends 10 years on book about CPV General Secretary
-
Rustic charm of Hanoi's street vendors: Timeless beauty
-
iHaNoi sees 52,000 registered accounts, 20,000 daily visits
-
Youth-Led Environmental Initiative in Hanoi
-
Unique lotus flower art on display in Hanoi