THE NATIONAL ASSEMBLY
Resolution No. 26/2016/QH14 dated November 10, 2016 of the National Assembly on medium-term public investment plan of 2016 - 2020 period
Pursuant to the Constitution of the Socialist Republic of Vietnam;
Pursuant to the Law on Public investment No. 49/2014/QH13;
Pursuant to the Law on State budget No. 01/2002/QH11 and the Law on State budget No. 83/2015/QH13;
Upon the consideration of the Statement No. 471/TTr-CP, the Report No. 472/BC-CP dated October 19, 2016 by the Government; the Inspection report No. 176/BC-UBTCNS14 dated October 19, 2016 by the Finance and Budget Committee; the Report No. 50/BC-UBTVQH14 dated November 9, 2016 by the Standing committee of the National Assembly of the Socialist Republic of Vietnam and the National Assembly’s enquiry reports on medium-term public investment plan of 2016 - 2020 period,
Article 1. Objectives, orientation of medium-term public investment of 2016 - 2020 period
Restructure and increase the effectiveness of the use of public investment, maximize the attraction and use effectively investments in development, perfect basically the essential system of socio-economic infrastructure, serving the implementation of objectives of socio-economic development of 2016 - 2020 period and restructure the economics of 2016 - 2020 period.
a) Focus on the provision of capitals to expedite the progress and complete National target programs, projects of national importance and key projects which are necessary to boost the socio-economic development of Vietnam, with the regional connection and spreading; use effectively the capitals from other economic sectors. Investments in the development of the State budget shall not be allocated to sectors or projects which other economic sectors may invest in;
b) Prioritize investments from the State budget in mountainous, border or island areas, areas with many ethnic minorities, remote and isolated areas, areas high frequency of natural disasters and areas with extremely disadvantaged socio-economic conditions; supports with housing to people meritorious to the revolution; tasks of fighting against climate change, prevention, fighting and elimination of drought in the Central Highlands and the south central coast, the sanitization in the Mekong Delta and marine environment pollution in 4 provinces of the Center area;
c) The investment from the State budget in 2016 - 2020 period to sectors, domains and programs shall comply with regulations in the Resolution No, 1023/NQ-UBTVQH13 by the Standing committee of the National Assembly of the Socialist Republic of Vietnam;
d) The collection from the sale of the state capitals of several enterprise shall be invested to important projects with high socio-economic effect.
Article 2. Total medium-term investment form the state budget in 2016 - 2020 period
1. Total medium-term investment form the state budget in 2016 - 2020 period shall not exceed VND 2,000,000 billion, where:
a) Central government’s budget investment shall be VND 1,120,000 billion, including VND 300,000 billion of foreign capitals and VND 820,000 billion of domestic capitals, VND 260,000 billion of which are Government bonds (including VND 60,000 billion of Government bonds transferred from the 2014 - 2016 period) and the collection from the sale of state capitals from several enterprises shall be VND 250,000 billion;
b) Investment in the balance of local government’s budget shall be VND 880,000 billion.
2. Provisions for medium-term investment plan from the state budget of the 2016 - 2020 period to handle issues arising during the implementation of medium-term investment plan as follows:
a) 10% of each investment shall be transferred to the common provisions;
b) Ministries and regulatory of central and local governments shall transfer 10% of the capitals provided according to medium-term to the provision fund.
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