A section of the North-South highway (Photo: VNA)
Hanoi (VNA) – National Assembly deputies gave opinions on a list of projects and specific sums of capital allocated for projects under the middle-term public investment plan for the 2016-2020 period during the ongoing ninth session of the 14th National Assembly Standing Committee in Hanoi on April 20.

According to the Government’s report, the total budget already approved by the legislature for the plan in the reviewed period was 2 quadrillion VND (some 88.1 billion USD), of which 1.74 quadrillion (76.6 billion USD) was allocated for projects of ministries, sectors and localities.

The total capital allocation for the first phrase was 1.134 quadrillion VND (50 billion USD). In the second phrase, the Government has directed ministries, sectors and localities to address shortcomings in the target programme on climate change adaptation and green growth and investment in coastal roads.

The Government proposed allocating 20.86 trillion VND (900 million USD) for the Vietnam Bank for Social Policies (VBSP) and 12.67 trillion VND (546.64 million USD) that the State budget owed to the Vietnam Development Bank (VDB) and another 15.01 trillion VND (647.6 million USD) for the VDB.

It also proposed providing additional 2 trillion VND (88 million USD) for the VBSP to support social housing development, and another 4 trillion VND (176 million USD) for the national target programme on the East Sea and islands.

Nguyen Duc Hai, Chairman of the NA’s Finance and Budget Committee, said the committee agreed with the Government’s proposal on allocating chartered capital to the VDB after the Government evaluates the bank’s operational efficiency, debts, development orientations, plan for chartered capital arrangement, and management expenses.

Regarding the middle-term capital plan of 80 trillion 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 prevention project in Ho Chi Minh City, the committee urged the Government to promptly finalize necessary documents for these projects and report to the NA Standing Committee for consideration before submitted to the NA for approval at its third session.

Vice Chairman of the National Assembly Phung Quoc Hien said the NA Standing Committee requested the Government to review all projects that have not been provided with sufficient capital and those lacking of corresponding capital. 

The Government and the Minister of Planning and Investment must be responsible for monitoring, reducing, and adjusting investment to complete these projects in 2017-2020, he added.-VNA