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Vietnam to spend 89.7 bln USD on public investment in 2016-2020

Xinhua, November 10, 2016 Adjust font size:

Vietnamese parliament agreed here Thursday that the countrys maximum public investment for the 2016-2020 period will be 2,000 trillion Vietnamese dong (89.7 billion U.S. dollars).

The figure was announced in a resolution on Vietnams public investment plan in medium term of 2016-2020 adopted by the country's lawmakers on Thursday at the ongoing second session of the 14th National Assembly (NA).

According to the resolution, among the total figure of public investment in the next five years, some 1,120 trillion Vietnamese dong (50.22 billion U.S. dollars) comes from the central budget, with foreign capital and domestic capital standing at 300 trillion Vietnamese dong and 820 trillion Vietnamese dong, respectively.

Meanwhile, the remaining 880 trillion Vietnamese dong (39.46 billion U.S. dollars) will be collected from local budgets, reported Vietnams state-run news agency VNA.

A total of 72.817 trillion Vietnamese dong (3.26 billion U.S. dollars) will be allocated to implement two national target programs on new rural construction and sustainable poverty reduction.

At the same time, as much as 5 trillion Vietnamese dong (224.2 million U.S. dollars) will be used for land clearance of the construction of Vietnams largest Long Thanh International Airport in southern Dong Nai province.

According to the NA Standing Committee, the construction of Vietnams North-South Expressway will be among projects to be invested by government bonds. Endit