The Ministry of Planning and Investment estimates the total State budget to reach 516.7 trillion VND (22.6 billion USD) in 2022, up 8.3% against 2021’s plan.
Illustrative image (Source: VNA)
Of the total, the central budget will be 222 trillion VND, equal to this year’s plan, while the local budget capital will be 294.7 trillion VND, up 15.4% 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.