VietNamNet Bridge – Minister of Finance Vuong Dinh Hue told the National Assembly last week that the government planed to pay VND59.3 trillion (over $2.8 billion) for wage reform as of May 2012.
Hue said that next year, development investment capital will rise by 18.4 percent over that of 2011 to satisfy the need of investment for economic restructure. Capital for regular spending will also increase by 15.5 percent.

According to the Finance Minister, one of the priorities of budget 2012 is wage reform. The government will spend over $2.8 billion to implement wage reform plan, which will begin in May 2012.

This plan was supported by the National Assembly’s Committee for Finance and Budget. The committee’s chief Phung Quoc Hien said that the government should check sources of revenue and take measures against tax loss from foreign-invested enterprises and from management of natural resources.

Hien also urged the government to consider budget revenues from state-owned groups, which is lower than that of other sectors, and to consider amendment to some laws on tariff.

This content will be discussed in groups at the ongoing National Assembly session today, October 24.

Le Nhung