Ministry of Transport disbursed nearly $1.44 bln of public investment capital in eight months

The Ministry of Transport has disbursed nearly VND36 trillion ($1.44 billion) of public investment capital this year,  as of the end of August 2024, accounting for 50.5% of the assigned plan and exceeding the national average rate (40.49%).

In 2024, the ministry was assigned a total public investment capital of VND71.284 trillion (nearly $2.9 billion) by the Government.

According to the ministry’s Department of Planning and Investment, the disbursement of 100% of the capital plan for the year will pose challenges as some projects are still completing investment procedures, facing obstacles in site clearance and compensation, and infrastructure relocation. Adverse weather conditions during the remaining months of the year are also a concern.

The year 2024 is considered a pivotal year in implementing the medium-term public investment plan for 2021-2025 period whilst the disbursement volume from now until the year end remains quite large.

To ensure the full disbursement of allocated capital for the year, the Department recommends that project investors and management units develop specific plans and strictly implement the directives related to the disbursement of funds from the Prime Minister and the Ministry of Transport.

Accordingly, it is essential to accelerate the construction progress of key projects that connect regions, such as: the East North-South Expressway for the 2021-2025 period, the Bien Hoa - Vung Tau Expressway, the Khanh Hoa - Buon Ma Thuot Expressway, Rach Mieu 2 Bridge, and Dai Ngai Bridge, among others. At the same time, it is important to speed up the approval for technical designs, and budget estimates, and organize early bidding to select contractors for new projects according to approved plan.