Thua Thien Hue and Nghe An are allowed to borrow with the total outstanding loans of no more than 40 percent of the provincial budget revenues as decentralized, while the figure for Hai Phong and Thanh Hoa is 60 percent.
Lawmakers on October 22 agreed to promulgate a Resolution of the National Assembly (NA) on piloting a number of specific mechanisms and policies for the development of Hai Phong city and Nghe An, Thanh Hoa and Thua Thien-Hue provinces, welcoming breakthrough decisions to create new growth poles for the country and have specific mechanisms and policies to promote not only local but also regional development.
An overview of the October 22 sitting.
Earlier in the morning sitting of the 15th National Assembly’s second plenary session, legislators listened to the Government’s report on the draft resolution delivered by Minister of Planning and Investment Nguyen Chi Dung.
Minister of Planning and Investment Nguyen Chi Dung.
Under the document, Thua Thien Hue and Nghe An are allowed to borrow with the total outstanding loans of no more than 40 percent of the provincial budget revenues as decentralized, while the figure for Hai Phong city and Thanh Hoa province is 60 percent.
It also stipulates a number of specific mechanisms on piloting the implementation of fee policies in the localities, land management and forest use management, planning management; revenue from handling housing and land issues.
The resolution is proposed to take effective from January 1, 2022 and will be implemented for five years.
Chairman of the NA's Finance-Budget Committee Nguyen Phu Cuong said his committee agreed with this proposal. However, some deputies suggested piloting these specific mechanisms and policies until the end of 2025 to ensure they conform with the 2021-2025 plan.
NA Chairman Vuong Dinh Hue stated that if the pilot results are effective and appropriate, the mechanisms and policies can be implemented nationwide.
He stressed that it is necessary to have mechanisms and policies to create new motivation for localities to grow further./.