HCM City: Nearly 71 trillion VND of public investment in 2023
Ho Chi Minh City has been allocated nearly 71 trillion VND (more than 3 billion USD) of public investment for 2023, including 15.293 billion from the central budget and 55.225 billion from the local budget.
HCM City has been allocated 71 trillion VND of public investment in 2023 (Photo: VNA)
HCM City (VNA) – Ho Chi Minh City has been allocated nearly 71 trillion VND (more than 3 billion USD) of public investment for 2023, including 15.293 billion from the central budget and 55.225 billion from the local budget.
The allocated amount doubles the 2022 level.
The majority of the capital will be invested in transport infrastructure works such as the construction project of the An Phu intersection (600 billion VND), the expansion project of National Highway 50 in Binh Chanh district (184 billion VND), the component No1 project of Ring Road 3 (1 trillion VND) and Ben Thanh-Suoi Tien urban railway project's metro line No1 (779.6 billion VND).
The city's authorities are determined to adopt changes so that the disbursement rate of public investments in 2023 reaches more than 95%.
In the first quarter of 2023, the city is 🥂focusing on reviewing projects, and addressing weaknesses in 2022 to accelerate the disbursement of public investments in 2023./.
With a history spanning more than 300 years, the southern metropolis of Ho Chi Minh City has strived to become a dynamic and attractive destination for both domestic and foreign guests.
Ho Chi Minh City absorbed about 3.94 billion USD in foreign direct investment (FDI) in 2022, up 5.4% year-on-year, according to the municipal People’s Committee.
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The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
HCM City has been allocated 71 trillion VND of public investment in 2023 (Photo: VNA) 
