The Ministry of Industry (MoI) has injected about VND28.3 trillion (US$1.78 billion) into 5,106 major industrial projects so far this year, up 42.1 per cent on-year, according to the estimates released July 31 by MoI.
The disbursement, however, accounts for only 28.6 per cent of the yearly target of VND99.25 trillion (US$6.24 billion).
MoI officials attributed the low actualization rate compared with the set target to the fluctuation of input material prices, problems relating to compensation for site clearance for new projects, restricted management capacity of investors, and procedural hindrances.
Of the total realized capital, the electricity industry spent VND10.5 trillion (US$859.81 million), including VND5.8 trillion (US$365.47 million) on power generation projects and VND2.43 trillion (US$153 million) on power distribution networks, fulfilling 30.5 per cent of the sector’s yearly plan.
In the 2005-2006 period, the power sector planned to complete a series of power projects such as the expansion of Phu My 2.1 gas-fired power plant and Uong Bi thermal power plant and the Se San 3 hydropower plant. It will also accelerate the construction of the country’s largest 2,400-megawatt Son La hydropower plant among others.
In the seven-month period ending July, the petroleum industry put VND14.4 trillion (US$905.66 million) in its underway projects, completing 32.4 per cent of the target set for the whole year.
The coal and mineral exploitation industry disbursed VND1.74 trillion (US$109.2 million) into key projects such as thermal power plants of Mao Khe, Cam Pha and Mong Duong, the Sin Quyen Lao Cai bronze complex, or 21.9 per cent of the annual plan, according to MoI’s estimates.
The steel industry, meanwhile, pumped a mere VND104 billion (US$6.54 million) into four projects including the Phu My steel laminated factory, the Mao Khe iron ore exploitation complex, the Quy Xa-Lao Cai iron ore exploitation and processing plant, and the second phase of the metallurgy Thai Nguyen TISCO, making up 7.1 per cent of the yearly target.
The chemical industries also estimated to have used VND193 billion (US$12.14 million) for its production projects, or 21.1 per cent of the yearly plan; whereas the foodstuff sector spent VND100 billion (US$6.29 million), or just 5.6 per cent.
Industrial Executives’ Briefing Issue
Vietnamese
