The government has submitted to the National Assembly a report on the adjustment of the investment plan using the central budget in 2020.

Implementing the National Assembly and Government’s resolutions, and following instructions by the Prime Minister, five ministries and central agencies, and five localities, after considering disbursement for projects, proposed giving back the capital allocated to them in 2020, totaling VND576 billion.

The Ministry of Planning Investment gives back VND365 billion, the Party Central Committee VND52 billion, the Committee for Ethnic Minority Affairs VND50.25 billion, Government Office VND10 billion and the Council for State Capital Management at Enterprises VND1.6 billion.

The five cities/provinces that want to give back capital include HCM City (VND35.9 billion), Can Tho (VND27.8 billion), Binh Duong (VND14.145 billion), Nghe An (VND10.552 billion) and Gia Lai (VND9.4 billion).

As for Nghe An province, it still had not made detailed allocation of the VND10.5 billion capital under the Prime Minister’s Decision 2086 by September 30, 2020. The capital will be given back to the central budget.

The amount of VND576 billion has been allocated to other agencies and localities.

The Government’s report also shows the amount of foreign-sourced capital in the state budget that the Prime Minister allowed among ministries, agencies and localities was VND15.1 trillion.

The ministries and agencies giving back capital are the ministries of Planning and Investment, Agriculture and Rural Development, Education and Training, Natural Resources and the Environment, Health, Culture, Sports and Tourism, National Defence, the Vietnam Academy of Science and Technology, and the Hoa Lac Hi-tech Park.

45 cities and provinces want to give back capital, including Ha Giang, Lao Cai, Yen Bai, Thai Nguyen, Phu Tho, Bac Giang, Hoa Binh, Son La, Lai Chau, Hanoi, Hai Phong, Quang Ninh, Hai Duong, Hung Yen, Vinh Phuc, Ninh Binh, Thai Binh, Nghe An, Quang Binh, Quang Tri, Thua Thien-Hue, Da Nang, Quang Nam, Quang Ngai, Phu Yen, Khanh Hoa, Ninh Thuan, Binh Thuan, Dak Lak, Gia Lai, Lam Dong, HCM City, Dong Nai, Binh Duong, Ba Ria – Vung Tau, Long An, Tien Giang, Ben Tre, Vinh Long, Can Tho, Hau Giang, An Giang, Dong Thap, Kien Giang and Ca Mau.

The government said the projects using ODA and preferential foreign loans were affected more by Covid-19 than domestic projects because the projects have close relations with overseas activities and machines and equipment need to be imported. Also, the projects use foreign contractors, workers, supervisors and consultants. 

Luong Bang

Disbursement of public investment at record since 2016, still misses Gov’t target

Disbursement of public investment at record since 2016, still misses Gov’t target

The disbursement of public investment was estimated at VND398 trillion as of the end of December, meeting 82.8 per cent of the Government’s plan – the highest rate in the 2016-20 period, according to the Ministry of Planning and Investment.  

Public investment pushed to the fore

Public investment pushed to the fore

Vietnam will continue pumping a great deal of money into public investment with a view to reaching the country’s economic growth goal for next year.