Vietnam Disburses $830Mln from Govt Bond Sale

Vietnam has disbursed VND13.1 trillion (US$830 million) from sold Government bonds for key infrastructure projects in 2003-2005, representing 69.5 per cent of the plan set for the three years.

 

By the end of November this year, disbursement for the projects managed by the central agencies reached VND12.3 trillion and for projects by provinces and cities VND810.5 billion.

 

The Government has allocated VND12.3 trillion to the projects managed by the central agencies and VND810.5 billion for projects by provinces and cities.

 

As planned, the Government expects to allocate a total VND18.84 billion (US$1.2 billion) sourced from bond sales in the 2003-2005 period for transport and irrigation projects.

 

The disbursement rate in 2003-2004 fulfilled 90.4 per cent of the annual plan while it reached only 43.1 per cent in 2005.

 

According to the State Treasury, the disbursement from government bond sales has gone at a snails-space because investors and contractors have only focused on carrying out the 2003-2004 works. The impediments in investment procedures, site clearance, slow check-before-acceptance and payments have also hindered the disbursement.
The People