Prime Minister Pham Minh Chinh addressed the National Conference on Accelerating Public Investment for 2025, held on the morning of October 18th.
Prime Minister Pham Minh Chinh delivering his speech at the conference. (Photo: VGP)
With less than a quarter remaining in 2025, the Prime Minister emphasized that the nation must implement a sprint strategy to achieve the goals and tasks assigned by the Party and the National Assembly. To reach the growth target of over 8% in 2025 and set the stage for double-digit growth in subsequent years, investment, particularly public investment, will be a key driver.
The Prime Minister stressed that during this term, the entire Party, political system, military, and population are committed to implementing robust measures to increase revenue, reduce expenditures, and allocate resources for enhanced public investment.
As a result, public investment capital for this term has increased by 55% compared to the previous term. To date, public investment disbursement has been generally effective, avoiding scattered investments. Specifically, in 2025, public investment is expected to reach approximately 1.11 trillion VND, with a target disbursement rate of 100%, contributing significantly to development and growth objectives.
According to data compiled up to October 16th, the nation has disbursed 455 trillion VND in public investment (50.7% of the target), which is below expectations. Notably, 29 central ministries, agencies, and 18 localities have disbursement rates below the national average.
Highlighting that “every new house built, every completed project, and every task accomplished brings joy, excitement, and happiness to the people, contributing to the nation’s development,” the Prime Minister urged delegates to focus on reviewing and evaluating public investment disbursement results. This includes identifying the reasons for delayed disbursement in certain ministries, sectors, agencies, and localities, despite similar legal frameworks.
The Prime Minister encouraged delegates to embody the spirit of “less talk, more action, with tangible results,” to clarify the causes and responsibilities in public investment disbursement. They should address bottlenecks, determine accountability at each level and sector, and avoid shifting or evading responsibilities.
Delegates attending the conference. (Photo: VGP)
According to the Ministry of Finance’s report, the Prime Minister and Deputy Prime Ministers have conducted frequent working visits to localities to directly address institutional, procedural, and regulatory challenges. They have also inspected the progress and quality of key national projects and priority initiatives on-site.
Under their decisive leadership, the allocation and disbursement of public investment capital have achieved notable successes. State budget funds have been concentrated on critical infrastructure projects, including highways, airports, and high-speed railways, creating new development momentum for regions and localities.
Since the beginning of the year, over 455 km of highways have been completed, and construction has started on 364 km of new highways, aiming to achieve the target of more than 3,000 km by the end of 2025.
Additionally, discipline and rigor in public investment have been strengthened. Ministries, sectors, and localities regularly review, adjust, and reallocate capital between projects to ensure efficiency, transparency, and timely completion, significantly contributing to economic growth, macroeconomic stability, and sustainable development.
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Prime Minister Announces 2025 Public Investment Target of 1.11 Million Billion VND, Aiming for 100% Disbursement
On the morning of October 18th, Prime Minister Phạm Minh Chính chaired the National Conference on Accelerating Public Investment for 2025. This marks the fourth conference of the year focused on public investment, held in a hybrid format—in-person at the Government Office and virtually connecting with 34 provinces and cities nationwide.
