VN cuts VND 45,000 bln in public investment

Viet Nam has cut around VND 45,000 billion in public investment since the introduction of the Government’s Resolution No.11/NQ-CP dated February 24, reported the Ministry of Planning and Investment (MPI).

This year, the country planned to cut about VND 80,000 billion of public investment in an effort to contain inflation, stabilize macro-economy and ensure social welfare.

Of the above figure, ministries, sectors and localities have cut or reallocated VND 5,556.4 billion in 2,048 projects.

Meanwhile, State-owned enterprises (SOEs) have reviewed and delayed the implementation of 907 projects with total investment of VND 39,212.2 billion. Most of the SOEs’ delayed projects are non-production items.

The spirit of the Resolution No. 11/NQ-CP should be strictly followed to realize the preset target of reducing 9-10% public investment, said the MPI.

Hải Minh

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