Illustrative image. (Photo: giaoducphapluat.com)

Hanoi (VNA) – The Ministry of Construction has completed its mid-term public investment for 2016-2020 under the Law on Public Investment to submit to the Ministry of Planning and Investment.

Under the plan, total public investment need for the period is estimated at nearly 11 trillion VND (495 million USD), equal to 75.6 percent of the amount spent from 2011 to 2015.

More than 8.7 trillion VND (391.5 million USD) from the proposed amount will be sourced from the State budget, some 950 billion VND (42.75 million USD) from Government bonds and approximately 1.288 trillion VND (57.96 million USD) from foreign fund.

The mid-term investment will focus on building facilities for education-training and science-technology establishments to assist them in switching to the self-control financing mechanism.

According to the ministry’s statistics, it was assigned to manage the spending of almost 1.6 trillion VND (72 million USD) from the State for 38 public projects, six of which have become operational.

Meanwhile, the ministry mobilised some 17.5 million USD in four projects from the United Nations and the government of Japan, Germany and Republic of Korea.-VNA