The Biên Hòa–Vũng Tàu Expressway section in Đồng Nai Province is currently under construction. Southeastern provinces are ramping up public investment disbursement. — VNA/VNS Photo

HÀ NỘI — Despite economic challenges, public investment in Việt Nam is picking up speed.

In the first half of 2025, more than VNĐ268 trillion (around US$10.5 billion) was disbursed, reaching 32.5 per cent of the annual plan, up from 28.2 per cent in the same period last year.

This surge reflects stronger central directives and renewed efforts by local authorities and project teams to accelerate key and delayed projects, rebounding from a sluggish 9.35 per cent disbursement in Q1.

Disbursement plays a key role in boosting the economy, especially as exports and consumption slow. According to the Ministry of Finance, public funds are now directed more efficiently into major infrastructure and priority projects.

"Public capital is being concentrated where it can create new space and momentum for socio-economic growth," said Minister of Finance Nguyễn Văn Thắng.

Public investment usually starts slowly early in the year due to project planning and procurement. In past years, only 27–29 per cent was disbursed by mid-year, rising to over 90 per cent by year-end. In 2025, the pace is already ahead, showing strong momentum for the rest of the year.

Major expressway projects provide tangible proof. Sixteen new highways have been completed and put into operation, expanding the national network from 1,327km to 2,268km. This progress keeps Việt Nam on track to hit its 2025 target of 3,000km of expressways.

Despite this optimism, challenges persist.

Fifty-eight ministries, sectors and provinces remain below the national average disbursement rate. The government has set an ambitious goal of disbursing 100 per cent of the public investment plan in 2025, higher than the 95 per cent benchmark in past years.

Prime Minister Phạm Minh Chính underscored the importance of public investment in a recent government conference, stating it would be a vital force in boosting economic growth, stabilising macro indicators and creating jobs. He emphasised the need for continued institutional reform and faster site clearance to avoid procedural bottlenecks.

The political will is clear. Projects with long-standing difficulties are being reviewed and resolved to unlock frozen capital.

National Assembly Deputy Trịnh Xuân An of Đồng Nai Province called on the government to create a national mechanism for handling over 2,200 lingering projects, valued at more than $230 billion.

"Unblocking these projects will unleash not just public but also private and foreign investment," he said.

Lawmakers say this could help Việt Nam reach its 8 per cent GDP growth target this year and set the stage for future growth.

Cát Linh-Hà Đông metro line. — Photo vtv.vn

HCM City and Hà Nội push ahead

Major urban centres are stepping up.

In HCM City, a task force has been deployed to accelerate administrative processes and enhance inter-agency coordination. Projects must now follow the 'six clears' framework: clear responsibilities, timelines, authorities, outcomes, personnel and tasks. Contractors are also encouraged to operate in three shifts to ensure speedy execution.

Chairman of the municipal People’s Committee Nguyễn Văn Được has ordered expedited approval for high-performing projects and directed agencies to reduce processing times by 30 per cent.

In Hà Nội, the city’s leaders target disbursement of over VNĐ87 trillion, up 13 per cent from 2024. With nearly VNĐ27 trillion already disbursed by June 20 (equivalent to 31 per cent of the annual plan), the capital city is pressing ahead on key transport and drainage projects, including Tứ Liên and Trần Hưng Đạo bridges, as well as Ring Road 4.

To expedite delivery, some major projects have received orders to complete documentation within a single day – cutting approval timelines by 60 per cent. However, Hà Nội’s leaders have flagged land clearance and Official Development Assistance (ODA) project negotiations as key bottlenecks.

Vice Chairman of Hà Nội People's Committee Nguyễn Mạnh Quyền said: "The city must remove these final obstacles to realise the theme of the year: discipline, responsibility, innovation and growth."

As Việt Nam streamlines its administration, disbursement is seen as a key test of local leadership. Now into the second half of the year, the push is on to hit full-year targets and drive GDP growth past 8 per cent. — VNS