Investment capital planned for public projects has been largely appropriated to pay the debt arrears of basic construction and to complete transitional projects, said Minister of Planning and Investment Nguyen Chi Dung at an NA session.
|Minister of Planning and Investment Nguyen Chi Dung – PHOTO: NA|
Minister Dung cited data as indicating that between 2016 and 2020, some 9,600 public investment projects were under progress, but as many as 8,000 are transitional projects while only 400 are new projects.
“For example, the transport sector during the current tenure (of 2016-2020) spent most of its allocated money on repaying debts, but it still has arrears of more than VND20 trillion (US$855 million) to be settled,” the minister said. Continue reading “Public investment mainly used to pay debts: minister”