PM sets up task force to facilitate investment projects

As of June 30, the disbursement rate of public investment remained modest at VND133.9 trillion (US$5.8 billion), lower than the rate recorded in the same period last year of 34%.

Prime Minister Pham Minh Chinh has signed to set up a task force, which would be responsible to address bottlenecks and issues during the implementation of investment projects nationwide.

North-South expressway. Photo: Tuan Anh

Projects that would be under the taskforce’s review include public projects financed by the official development assistance (ODA) or concessional loans from international donors; business investment projects with funds from domestic sources or of foreign direct investment (FDI); projects under the public-private partnership (PPP).

Under the prime minister’s Decision No.1242/QD-TTg, Deputy Prime Minister Pham Binh Minh is designated as the head of the task force, while his deputies are Minister of Planning and Investment Nguyen Chi Dung, vice-ministers of the Ministry of Planning and Investment and Ministry of Justice.

The task force would review and summarize difficulties during the implementation process of investment projects, at the same time providing instruction to ensure timely completion.

Another key task of the task force is to advise the government on policies to grasp investment opportunities in a new situation; actively approach and negotiate with multinationals to attract high-quality FDI projects.

Members of the task force are officials from the Government Office, Ministry of Finance, Ministry of Natural Resources and Environment, Ministry of Industry and Trade, Ministry of Construction, Ministry of Transportation, Ministry of Agricultural and Rural Development, Ministry of Foreign Affairs, Ministry of Public Security, Ministry of Culture, Sports and Tourism, Ministry of Labor, Invalids and Social Affairs, Ministry of Information and Communications, State Bank of Vietnam, and the Committee for State Capital Management.

As of June 30, the disbursement rate of public investment remained at VND133.9 trillion (US$5.8 billion), equivalent to 29.02% of the yearly plan and lower than the rate recorded in the same period last year of 34%. Of the total, the disbursement rate of foreign-financed projects stayed low at 7.37%.