The ministry attributed the increase to effective implementation of the Government’s stimulus packages, subsidised loans, as well as supplementary State capital.

The capital was spent on transport projects, roadworks, ports and bridges and health, school and cultural facilities.

Local residents and the private sector have contributed nearly a third of the total investment, with VND220.5 trillion (USD12.9 billion), up by 22.5 per cent from last year.

The state budget was second with VND161 trillion (USD9.4 billion), an increase of 63 per cent compared with last year, accounting for 22.5 per cent of the total capital.

Ranking third was Foreign Direct Investment (FDI) capital with an expected USD8.8 billion at year-end, accounting for 21 per cent of the total.

This year the Government also issued bonds worth VND54 trillion to implement development projects, accounting for 7.6 per cent of the total capital.

Other major capital sources including State loans, capital from State-owned Enterprises (SOEs) and other sources.

The ministry is expected to attract USD5.45 billion in Official Development Assistance for development projects in 2009. The ministry estimates that more than VND800 trillion or an increase of 12 per cent is expected next year, with a focus on major transport and traffic infrastructure in Ha Noi and HCM City.