HCMC – Minister of Transport Nguyen Van Thang has ordered the speedy disbursement of over VND20 trillion before the new year.
He was speaking during a recent meeting with project developers and management boards, urging them to cut through the administrative red tape and improve disbursement efficiency.
The ministry still had VND20,194 billion to disburse until the end of the year, said Bui Quang Thai, director of the Transport Engineering Construction and Quality Management Bureau.
According to the disbursement plan, over VND10.4 trillion will be allocated to the first and second phases of 23 component projects of the North-South Expressway, VND1.5 trillion to key, urgent projects, VND5.4 trillion to other transport projects, and nearly VND2.5 trillion to ODA projects.
The slow pace of capital disbursement was due to slow site clearance, procedural works and the construction progress missing deadlines.
“To disburse over VND20 trillion in two months is not an easy task,” the minister said. He suggested developers and construction management boards take fierce action so that capital disbursement can be accelerated.