Vietnam government seeks additional 10tr dong for public investments

07-May-2012 Intellasia | VnExpress | 7:55 AM Print This Post

Instead of “saving” 13 trillion dong worth of bond in 2012-2015 period, the Vietnamese government has proposed to spend 5.5 trillion dong of this capital source for irrigation projects and nearly 4.5 trillion dong for other infrastructure projects.

According to the plan submitted by the Ministry of Planning and Investment (MoPI) to the National Assembly in late March, the total capital arrangement from government bonds in the 2012-2015 period is 180 trillion dong, of which about 13 trillion dong will be set for provision. However, with many different opinions, the National Assembly proposed to spare 5.5 trillion dong of 13 trillion dong as mentioned above for large irrigation works.

Accordingly, MoPI on behalf of the government presented a plan to allocate 4.378 trillion dong for 18 irrigation projects across the country (1.94 trillion dong managed by the Ministry of Agriculture and Rural Development and 2.438 trillion dong under local management). Particularly the key project of Ngan Truoi-Cam Trang (in Ha Tinh province) will be invested additional 1.122 trillion dong (of the total investment of six trillion dong).

Apart from the spending of 5.5 trillion dong, representative of the government also proposed to add a number of projects that were not included in the category in the Resolution No 12 of the National Assembly, including Nam Can Bridge (Ca Mau province), Kim Xuyen Bridge (Tuyen Quang province), dormitory of Tra Vinh University, Da Nang Cancer Hospital, Ninh Thuan coastal road and some works of the Ministry of Transport. The total funds to be allocated to these projects are up to nearly 4.47 trillion dong.

Explaining at the meeting, minister of planning and investment, Bui Quang Vinh, said that these projects are not included in the category of the Decree No 881 of the National Assembly as well as the list of 40 projects being added in 2011 so in principle these projects are not allowed investment capital. However, after reviewing, the government said that these projects are urgent and therefore it is proposed to be funded.

 


Category: Economy

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