Public investment to reach 5,463 billion kip this year
Public investment to reach 5,463 billion kip this year
Public investment is projected to reach 5,463 billion kip in 2017, increasing from 3,290 billion kip in 2016, the Ministry of Planning and Investment reported recently.
Minister of Planning and Investment DrSouphanhhKeomixaysummarised the implementation of the National Socioeconomic Development Plan in 2016 and first quarter of 2017 to the 8th National Assembly’s third ordinary session, saying overall investment attained 42,857 billion kip in 2016 accounting for 33.1 percent of GDP.
The ministry implemented 5,355 public investment projects worth 3,290 billion kip, accounting for 99.62 percent of the yearly plan along with 5,053 billion kip or about US$621.6 million in official development assistance and loans, accounting for 90.8 percent of the plan.
In addition, the ministry also implemented 1,222 domestic and foreign private investment projects worth 25,476 billion kip or about US$3.134 billion in registered capital, with 23,639 billion kip or US$ 2.908 billion in real investment which was over the plan of 28.1 percent.
Credit finance for the banking system increased to 10,875 billion kip, growing by 62.3 percent of the plan, while disbursements for public investment project debt were 963 billion kip as planned.
In the transitory last three months of the year, the government proposed the National Assembly (NA) disburse more than 700 billion kip of which the ministry has already completed about 61 percent.
DrSouphanh said in the first three months of 2017, the ministry successfully announced implementation of 6,465 public projects worth 3,300 billion kip approved by the NA across all sectors.
These included 500 billion kip which compensated postponed projects from last year, while 2,800 billion kip collated to contribute to 322 aid projects from abroad at a cost of 70.04 billion kip, 3,098 continued projects worth 1,682 billion kip, 1,481 new projects worth 457.93 billion kip, and paying debt on 1,564 projects worth 589.88 billion kip.
Meanwhile, other investments reached 601 billion kip and 1,562 billion kip for disbursements.
With total public investment projected to reach 5,463 billion kip in 2017 DrSouphan said the ministry had received 903 billion kip or about US$110 million from official development assistance, grants and loans, accounting for 10.4 percent of the plan; allowed domestic and foreign private investment projects worth 9,048 billion kip or US$1,117 million, and received 714.5 billion kip to finance credit in the banking system, accounting for 9.2 percent.
