Legislators approve medium-term public investment plan
With 89.88% of "yes" votes, the National Assembly on November 10 passed a resolution on medium-term public investment plan for the 2016-2020 period with a total maximum budget of VND 2 quadrillion (US$ 89.56 billion)
Out of the total budget, VND 1.12 quadrillion will be sourced from the central budget (including VND 300 trillion of foreign investment and VND 820 trillion of domestic capital – VND 260 trillion from Government bonds and VND 250 trillion from State divestment from enterprises. Localities will contribute VND 880 trillion.
Defining investment orientations by 2020
The NA specified that capital allocation will be given to national target programs, national key and important projects; those in mountainous, border, island, ethnic minority, disaster-frequently hit areas; missions in climate change response, drought fight in the Central Highlands and Central Regions; salt intrusion prevention in the Mekong Delta Region, settlement in the maritime environmental incidents in the four central provinces.
Lawmakers agreed to put aside nearly VND 72.82 trillion to the national target programs on new-style rural area building (VND 43.11 trillion) and sustainable poverty reduction (VND 29.69 trillion).
The Long Thanh Airport project will get VND 5 trillion to conduct ground clearance, while other major projects of the country will get VND 80 trillion.
The NA will consider the sum of investment for each national project after receiving documents from the Government in line with the Public Investment Law.
The allocation of the capital will be made to serve the socio-economic development strategy for the 2011-2020 period and the socio-economic development plan for the 2016-2020 period and the approved planning of the country, sectors and localities. /.
By Kim Anh