Vietnam pushes for faster pace of public projects

Thanh Nien News

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A file photo of the construction site of a river embankment in the Mekong Delta Province of Vinh Long. Photo: VNA A file photo of the construction site of a river embankment in the Mekong Delta Province of Vinh Long. Photo: VNA

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The government has ordered its agencies to speed up public projects to boost economic growth, which has been slowing down amid the below-par performance of some key sectors.
In a resolution it proclaimed Saturday, the government wants the agencies to accelerate processes like site clearance and bidding and get tough on tardy contractors.
Projects that are behind schedule should have their funding cut off this year, it said.
The government's resolution was issued a few days after Prime Minister Nguyen Xuan Phuc partly blamed the slow progress of public projects for causing the economy to slow down at a meeting with several ministries last week.
Figures from the Ministry of Planning and Investment showed that around VND81.8 trillion (US$3.66 billion) were spent on public projects in the first five months, or just 32.6 percent of the target.
The government has projected gross domestic product growth at 6.7 percent this year, slightly higher than last year when it saw a five-year high of 6.68 percent.
But international and local institutions expect Vietnam to miss the target, given that its farm output has been shrinking due to unusual conditions and industry has been slowing down amid the global economic volatility.
The economy grew at 5.52 percent in the first six months compared to 6.28 percent a year earlier, according to data from the General Statistics Office of Vietnam.

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