Vietnam’s State budget expected to rise by 8.3 percent in 2022

Of the total, the central budget will be VND222 trillion, equal to this year’s plan, while the local budget capital will be VND294.7 trillion, up 15.4 percent compared to that of this year’s estimate, the ministry said.

Next year, Vietnam will continue improving the efficiency of public investment use; speeding up the implementation of key investment projects with focus on highways, seaports, digital infrastructure, and important databases; expanding investment in innovative start-ups, important national and inter-regional projects.

Attention will be paid to complete construction on roads along the coast, transited from 2016-2020 to 2021-2025, and start work on several urgent and important projects that have positive influences on the economic recovery and development process in the context of the COVID-19 pandemic, and urgent projects as regulated by the Law on Public Investment.

According to the Ministry of Planning and Investment, in order to remove difficulties in public investment-related institutions, mechanisms and policies, the Government issued a Decree dated August 16, 2021 on amending and supplementing a number of articles of Decree No. 97/2018/ND-CP dated June 30, 2018 on on-lending ODA and foreign preferential loans of the Government. As a result, the problem of loan security assets has been removed for sub-borrowers, including public non-business units.

The Prime Minister also issued Decision No.1388/QD-TTg dated August 6, 2021 on the establishment of the Prime Minister's Working Group to direct the development of a pilot project on separation of ground clearance and resettlement out of investment projects.

At the same time, the Prime Minister also issued Dispatch No.1082/CD-TTg dated August 16, 2021 requesting ministries, central agencies and localities to speed up the disbursement of public investment capital.

Source: VietnamPlus