Hai Phong speeds up public capital disbursement

Authorities of northern Hai Phong city have requested relevant agencies and investors to take drastic measures to accelerate the disbursement of public investment capital, with a target of having 25-30% of the annually allocated capital disbursed by the end of May.

As of April 30, over VND2.9 trillion ($114 million) of the city's public investment capital, or 14.88% of the annual target, has been disbursed.

Vice Chairman of the municipal People’s Committee Le Anh Quan asked investors and district governments urgently complete investment procedures for new projects, speed up land clearance and accelerate existing projects.

He also required measures to tackle difficulties and obstacles relating to land, natural resources and construction.

Investors were ordered to disburse capital as scheduled and those projects that fail to ensure progress will be revoked or have capital to be re-allocated for other projects.