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Gov’t measures help to fuel investment capital
The country’s total sources of investment capital in the first half of this year are estimated to have reached 322.6 trillion VND, a year-on-year increase of 18.1 percent, said the Ministry of Planning and Investment (MPI).
Of the total, 141.5 trillion VND is from the state economic sector, up 33.4 percent, and 110.1 trillion VND from the non-state sector, up 37.4 percent. 4 billion USD is from foreign direct investment, down 18.4 percent, 1.78 billion USD from Official Development Assistance (ODA), up 15 percent and Government disbursements of 127 billion USD, down 9 percent.
New capital registered by domestic investors reached 153.5 trillion VND, an increase of 53 percent over the same period last year.
According to the MPI, thanks to investment stimulus measures, an improving business and investment environment, and continued mobilisation of the government’s capital sources, it is possible this year’s target for investment capital mobilisation reach.
The Government has recently issued additional bonds worth 20,000 billion VND to accelerate the tempo of investment in transport, irrigation, health and education, campuse building and other top-priority projects.
It has also created favourable conditions for domestic as well as foreign economic sectors and investors to provide funds for business, production and construction investment.
The Government has asked the authorities, localities and businesses to boost investment promotion activities and implement six stimulus packages in order to effectively tap sources of FDI capital and take full advantage of ODA.
It has also required businesses to step up the pace of contract negotiations, the signing of agreements and commitments, and to mobilise more priority ODA loans from international financial institutions including the World Bank (WB) and the Asian Development Bank (ADB).
The Government has been guiding poor districts nationwide to implement projects and public works by using advanced capital sources and urging large enterprises to assist these districts.
The MPI said it will focus on accelerating the disbursement of state budget capital, government bonds, ODA, and investment credit capital from state-owned enterprises from now until the end of this year.
As scheduled, the country’s total investment capital mobilisation for 2009 is estimated to reach 759 trillion VND, up 23.5 percent compared to last year’s figure.
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