Hanoi continues to focus on economic recovery efforts
The city would speed up the public investment progress to ensure the disbursement of 100% of the target amount for this year.
The city would speed up the public investment progress to ensure the disbursement of 100% of the target amount for this year.
A constant change of local legislation has delayed major infrastructure projects in Hanoi.
To ensure the dual target of containing the pandemic and simultaneously boosting economic growth, Hanoi remains steadfast in disbursing 100% of the target amount of public funds.
More relief measures are in the pipeline to support people and businesses affected by the pandemic.
Hanoi would hold an online conference later this month to accelerate disbursement of public investment funds, stated Vice Chairman of the city government.
By the end of 2019, Vietnam’s public debt had significantly dropped to 55% of GDP from 63.7% in 2016.
Hanoi targets to disburse 100% of the target amount this year to aid the city’s economic development.
Growing Chinese investment to Vietnam could turn the Southeast Asian country into a transshipment point for China to reroute its exports to a third country.
The country is in need of superior reform solutions to ensure its business environment capable of competing with regional and international peers, said Prime Minister Nguyen Xuan Phuc.
The disbursed amount, however, remains significantly lower than expected.