A section of the North-South highway (Photo: VNA)According to the Government’s report, the totalbudget already approved by the legislature for the plan in the reviewed periodwas 2 quadrillion VND (some 88.1 billion USD), of which 1.74 quadrillion (76.6billion USD) was allocated for projects of ministries, sectors and localities.
The total capital allocation for the firstphrase was 1.134 quadrillion VND (50 billion USD). In the second phrase, theGovernment has directed ministries, sectors and localities to addressshortcomings in the target programme on climate change adaptation and greengrowth and investment in coastal roads.
The Government proposed allocating 20.86 trillionVND (900 million USD) for the Vietnam Bank for Social Policies (VBSP) and 12.67trillion VND (546.64 million USD) that the State budget owed to the VietnamDevelopment Bank (VDB) and another 15.01 trillion VND (647.6 million USD) forthe VDB.
It also proposed providing additional 2 trillionVND (88 million USD) for the VBSP to support social housing development, and another4 trillion VND (176 million USD) for the national target programme on the EastSea and islands.
Nguyen Duc Hai, Chairman of the NA’s Finance andBudget Committee, said the committee agreed with the Government’s proposal onallocating chartered capital to the VDB after the Government evaluates thebank’s operational efficiency, debts, development orientations, plan forchartered capital arrangement, and management expenses.
Regarding the middle-term capital plan of 80trillion VND (3.6 billion USD), including 70 trillion VND (3.15 billion USD)projected for the North-South Expressway and 10 trillion VND for the flood preventionproject in Ho Chi Minh City, the committee urged the Government to promptlyfinalize necessary documents for these projects and report to the NA StandingCommittee for consideration before submitted to the NA for approval at itsthird session.
Vice Chairman of the National Assembly PhungQuoc Hien said the NA Standing Committee requested the Government to review allprojects that have not been provided with sufficient capital and those lackingof corresponding capital.
The Government and the Minister of Planning andInvestment must be responsible for monitoring, reducing, and adjustinginvestment to complete these projects in 2017-2020, he added.-VNA
VNA
