HCM City’s public spending tardy in first half despite great efforts
Ho Chi Minh City's public spending in the first half of 2023 reached 15.43 trillion VND (652 million USD), accounting for only 23% of the budgeted amount despite the many measures it took to remove hurdles.
HCM City spends only 23% of its public spending outlay in the first half (Photo: VNA)
HCM City (VNS/VNA) – Ho Chi Minh City's publicspending in the first half of 2023 reached 15.43 trillion VND (652 million USD),accounting for only 23% of the budgeted amount despite the many measures ittook to remove hurdles.
District authorities and government agencies have been makinggreat efforts to achieve the spending target after an unsatisfactoryperformance last year and in the first few months of this year.
Besides unavoidable factors like escalating prices of constructionmaterials, which affect contractors’ work, the city has also discovered thatagencies overseeing public spending register for low amounts of funds to avoidthe stigma of failure to spend.
To ensure that spending this year reaches at least 95% as requiredby the Government, the City People's Committee has instructed all relatedagencies and districts to accelerate disbursement.
It has also instructed the districts to review projects that faceproblems and propose solutions. If resolving them is beyond their authority,they should promptly report them to the city administration, it added.
The Department of Planning and Investment has been ordered toimmediately review all projects and make plans to replace those that cannot beimplemented.
For the full year the city’s public spending allocation is 70trillion VND (3 billion USD), double last year’s figure./.
Permanent Cabinet members and representatives from Ho Chi Minh City looked into tasks during the implementation of the National Assembly (NA)’s Resolution No. 98/2023/QH15 on piloting some specific mechanisms and policies for the development of HCM City at a hybrid working session on July 7.
The much anticipated first metro line will be completed by the end of this year, with commercial operations to begin next year, Ho Chi Minh City authorities have promised.
The Ho Chi Minh City Department of Transport has sent a report to its People’s Committee on a plan to connect traffic between the City and Dong Nai province, including three new bridges - Cat Lai, Phu My II and Dong Nai II.
Ho Chi Minh City is among the 21 cities and provinces with the lowest fertility rate in the country, heard a local ceremony on July 14 to launch a communication campaign integrated with providing population quality improvement services in areas with low fertility rates this year.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
HCM City spends only 23% of its public spending outlay in the first half (Photo: VNA) 
