Gov't Bond Capital Disbursement Meets 5.6 per cent Annual Plan
Disbursement of government bond capital in the first quarter of 2007 met only 5.6 per cent of the plan for the whole year, said the Minister of Planning and Investment (MPI).
The figure is small in comparison with total social investment capital, estimated at more than VND90 trillion (US$5.6 billion) in the first three months.
MPI explained the slow disbursement results from incomplete investment procedures of many projects and slow site clearance.
In addition, government bond capital allocation is unbalanced. Many localities facing capital shortage, while some ministries and sectors complained about redundancy.
The Ministry of Transport, for example, the biggest spender of government bond capital, has disbursed only VND3 trillion of VND10 trillion total registered capital.
According to the Ministry of Finance, Vietnam plans to issue VND22 trillion worth of government bonds this year to fund key transport and irrigation projects. (Vietnam Economic Times, Vietnam Panorama)
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