Vietnamese localities step up public investment spending

Hanoi disbursed ₫125.444 trillion in public investment funds by October 31, reaching 104.5% of the Prime Minister’s target, according to city finance department director Nguyen Ngoc Tu. Authorities in the capital, Hai Phong and Ha Tinh are tightening project oversight and tackling obstacles to spending before the end of 2026.

Hanoi’s spending represented 75.95% of its own target after excluding a 5% cost-saving provision, Tu said. The city still had approximately ₫86.532 trillion to disburse during November and December. Vice Chairman Nguyen Xuan Luu ordered daily progress checks and site inspections where projects show no improvement within a week.

Transport construction is among the work advancing in the capital. By the end of October, the Tu Lien Bridge project had used all ₫650 billion allocated to it, with a further ₫200 billion required for the fourth quarter. At Ngoc Hoi Bridge, work had reached approximately 25.5% of the contract value, and the contractor was targeting 35% by year-end.

Hai Phong had disbursed ₫33.877 trillion by October 31, or 91.76% of the Prime Minister’s allocation after a 5% expenditure reduction. The city aimed to exceed 100% in November and reach 120% by the end of December. It is reallocating money towards projects better placed to spend it.

Effective October 15, Hai Phong required departments and agencies to cut processing times for investment, land and construction procedures by at least 50%. Chairman Do Thanh Trung also ordered project reviews and weekly monitoring, with attention to land clearance, construction and payments.

Ha Tinh had spent ₫7.783 trillion by October 31, equivalent to 88.14% of its annual target from the Prime Minister. The province is publishing each unit’s disbursement results and linking progress to officials’ performance assessments. Three provincial working groups reviewed 682 projects across 52 localities and units to identify obstacles and potential funding reallocations.