Nguyen Thanh Phong (centre), chairman of the city People’s Committee, speaks at a meeting to review the city’s socio-economic development in the first eight months. Photo courtesy of the HCM City Press Centre HCM City will continue to speed up the disbursement of public funds and seek to increase budget revenue for the remaining months of the year, the chairman of the municipal People’s Committee has said. Speaking at a meeting to review socio-economic development in the first eight months, Nguyen Thanh Phong said the city would speed up the disbursement of at least 80 per cent of the planned investment next month in order to achieve the target of over 95 per cent of the plan by the end of the year. As of August 23, as much as VND21.3 trillion (US$911.5 million) had been disbursed, accounting for 50 per cent of the set target, almost 2.5 times higher than the same period last year, according to Phong. The HCM City Management Board for Traffic Works Construction and Investment and the HCM City Management Authority for Urban Railway (MAUR) have urged the city to speed up the disbursement rate to ensure the progress of many public projects with huge… Read full this story
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