HCM City increases disbursement of public investment capital in 2022

HCM City increases disbursement of public investment capital in 2022

Specifically, Directive 13/CT-UBND signed and promulgated by Chairman of the City People’s Committee Phan Van Mai clearly states that the settlement of investment procedures for projects is assigned to the Department of Planning and Investment.

The department is responsible for monitoring and guiding departments, branches, People’s Committees of districts, Thu Duc city, and investors to implement the processes and procedures for public investment, ensuring that the projects are allocated capital in accordance with the provisions of the Law on Public Investment, and promptly report to the City People’s Committee for contents beyond its authority.

Regarding capital disbursement, departments and sectors will coordinate with People’s Committees of districts, Thu Duc city and related units to supervise the implementation of public investment projects of investors according to their assigned fields.

For the medium-term public investment plan for the 2021-2025 period, departments, branches, People’s Committees of districts, Thu Duc city and investors actively review and plan capital allocation and disbursement for the remaining months of 2022 and the following years (2023, 2024, 2025) for all projects in accordance with the arranged medium-term capital of each project and the expected completion time.

They are asked to consider and propose to remove from the medium-term public investment plan projects that have not registered annual capital allocation for two consecutive years to start the project, or the project is unlikely to continue capital disbursement./.