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City's AnnouncementThursday, 07/17/2008, 06:18

City to grant no more State capital for construction projects this year

The HCM City People’s Committee will not adjust or grant additional State capital for construction and investment projects in the remaining months of this year in order to stabilize the macro economy and ensure social welfare and sustainable development <br>
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City to grant no more State capital for construction projects this year

 

The HCM City People�s Committee will not adjust or grant additional State capital for construction and investment projects in the remaining months of this year in order to stabilize the macro economy and ensure social welfare and sustainable development.

 

Instead, the city will allocate capital for projects and fields targeted to control inflation and price rises, and store necessary consumer goods to serve people in the last six months and the coming occassion of Tet (lunar new year).

 

The city government assigned relevant agencies and district authorities to accelerate the implementation of projects that were allocated capital earlier and ensure their quality, especially key projects which affect many households and the city�s environment.

 

The city government also asked its agencies, district authorities and State companies to reduce their public spending by 10%, increase savings and limit overseas trips for study and experience-learning purposes.

 

(Translated by MT � July 17, 2008)


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