Vietnam moves to establish COVID-19 vaccine fund

The Ministry of Finance is seeking the Government’s approval for the establishment of a COVID-19 vaccine fund, it announced on May 19.
Vietnam moves to establish COVID-19 vaccine fund ảnh 1Preparation for the injection of COVID-19 vaccine (Photo: VNA)
Hanoi (VNA) – TheMinistry of Finance is seeking the Government’s approval for the establishmentof a COVID-19 vaccine fund, it announced on May 19.

The Ministry of Healthplans to buy 150 million doses of vaccine to inoculate about 75 million peopleat an estimated cost of 25.2 trillion VND (1.09 billion USD). Of the amount, 21trillion VND will be used to purchase vaccines and the remainder will cover transportation,preservation, distribution and vaccination costs.

The MoF said that 16trillion VND for vaccine procurement will come from the state budget, while theremaining 9.2 trillion VND will be mobilised from localities, businesses andorganisations.

In case the pandemicpersists, leading to an annual increasing demand for vaccines, it is difficultto fulfill the target of having all people inoculated if Vietnam depends on theState budget only, according to the finance ministry.

Therefore, the establishmentof the COVID-19 vaccine fund is necessary to meet urgent requirements in thefight against the pandemic and speed up vaccine purchase and import for thesake of the immunisation drive.

The non-profit fund isto manage and coordinate its finances for sponsorship, purchase and usage ofCOVID-19 vaccines. Its operation will be placed under the supervision of Statefinancial management institutions and the State Audit Office of Vietnam.

It is obliged toreport budget collection and spending to the Government and the National Assembly,as well as publicise mobilised sources, list of donors and its balance.

The Government earlierissued a resolution promulgating the purchase and use of vaccine, given thecomplex developments of COVID-19 across the world and decisions of the Politburoand the Party Central Committee’s Secretariat to buy the vaccine with moneymainly from the State budget along with other legal financial sources.

The resolutionstipulates that the sources include allocations from the State budget,assistance of organisations, individuals at home and abroad and other legalfunding, and sums which are voluntarily paid by vaccine users./.
VNA

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