As Vietnam seeks to bolster its economic growth, the government has ramped up efforts to disburse public investment capital, a crucial driver for development. By the end of April 2025, the country had disbursed over 128,000 billion VND, achieving 15.56% of the plan assigned by the Prime Minister. This marks a significant acceleration compared to the first quarter of the year, where disbursement rates lagged behind.
In April alone, 80 key projects were launched or inaugurated across 34 provinces and cities, representing a total investment of approximately 445,000 billion VND. This unprecedented simultaneous commencement of projects is hailed as a landmark event in Vietnam's infrastructure development, showcasing the government’s commitment to overcoming economic challenges.
“This is a special atmosphere, a special time, and a special effort from the entire political system to achieve this remarkable outcome,” said a government official, emphasizing the collaborative spirit driving these initiatives.
Among the highlighted projects are the Long Thanh International Airport Phase I, the T3 terminal at Noi Bai Airport, and the completion of over 3,000 km of expressways. These projects are essential not only for improving transportation but also for stimulating economic growth, with the goal of achieving an overall growth rate of 8% or more this year.
As the country pushes forward, over 1,700 km of expressways are currently under construction. The North-South expressway project, in particular, is set to add five more sections into operation during the April 30 holiday, aiming to connect the entire route from Lang Son to Ca Mau by the end of 2025.
Despite the positive momentum, challenges remain. The Ministry of Finance reported that the disbursement rate of public investment capital reached only 14.32% of the plan for 2025, slightly lower than the same period last year. While 10 out of 47 ministries and 35 out of 63 localities exceeded the national average, there are still nine ministries and several localities that have yet to disburse any capital.
“We need to address the bottlenecks and challenges that hinder disbursement,” said a Ministry of Finance representative. “It’s crucial for ministries and localities to report specific issues tied to each project to ensure timely implementation.”
Some ministries have shown impressive disbursement rates: the Vietnam General Confederation of Labor achieved 86.43%, while the Voice of Vietnam and the Bank for Social Policies followed with 73.82% and 41.16%, respectively. On the local front, Phu Tho and Lao Cai led with rates of 44.39% and 43.45%.
However, the overall picture is marred by the fact that 15 ministries and agencies have disbursed less than 5%, with some localities lagging even further behind. The delays are attributed to various factors, including organizational restructuring and difficulties in project management.
“The changes in responsibilities and authority at the local level have resulted in extended processing times for project assessments and approvals,” noted an official involved in project oversight. “This has a direct impact on the pace of site clearance and project execution.”
Looking ahead, the government is focused on removing institutional barriers that impede public investment. Approximately 80% of this year's public investment capital is earmarked for transportation and electricity infrastructure, highlighting the administration's commitment to enhancing these critical sectors.
In a notable development, the Lao Cai - Hanoi - Hai Phong railway project, with a total investment of nearly 8.4 billion USD, is expected to significantly boost regional connectivity and economic development once completed. The city of Hai Phong plans to contribute nearly 11,000 billion VND to this project, including compensation for site clearance and the construction of a railway branch connecting to the Nam Do Son port area.
“We are actively working with local authorities to ensure the timely execution of the project, including site clearance and building relocation,” stated Nguyen Duc Tho, Deputy Chairman of Hai Phong City.
As Vietnam navigates its way through these challenges, the focus remains on ensuring that every disbursed VND is used effectively and efficiently. The government emphasizes that timely disbursement is not just about meeting targets; it’s about fulfilling responsibilities to the communities that depend on these projects for better infrastructure, healthcare, and education.
“Public investment is not just budget on paper. Each VND disbursed at the right time and place guarantees the progress of projects, revives businesses, and provides essential opportunities for communities awaiting new infrastructure,” remarked a senior government official.
As the nation gears up to meet its ambitious economic goals, there is a collective call for all sectors to enhance their efforts. The spirit of continuous construction, even during holidays, reflects a robust commitment to national progress. “We are working around the clock to ensure that projects are completed ahead of schedule,” said Phung Dinh Thanh, an engineer involved in the North-South expressway project.
With the right measures in place, Vietnam is poised to not only meet but potentially exceed its public investment goals for 2025, setting a strong foundation for sustained economic growth in the years to come.
