Sunday, December 4 2016

VietNamNews

Mid-term public investment need estimated at almost $495m

Update: February, 09/2016 - 09:20
A lot of traffic constructions need public investment. This year's mid-term investment will focus on building facilities for education-training and science-technology establishments. -- File Photo

HA NOI (VNS) – The Ministry of Construction has completed its mid-term public investment for 2016-2020 under the Law on Public Investment to submit to the Ministry of Planning and Investment.

Under the plan, total public investment need for the period is estimated at nearly VND11 trillion (US$495 million), equal to 75.6 percent of the amount spent from 2011 to 2015.

More than VND8.7 trillion ($391.5 million) from the proposed amount will be sourced from the State budget, some VND950 billion ($42.75 million) from Government bonds and approximately VND1.288 trillion ($57.96 million) from foreign fund.

The mid-term investment will focus on building facilities for education-training and science-technology establishments to assist them in switching to the self-control financing mechanism.

According to the ministry's statistics, it was assigned to manage the spending of almost VND1.6 trillion ($72 million) from the State for 38 public projects, six of which have become operational.

Meanwhile, the ministry mobilised some $17.5 million in four projects from the United Nations and the government of Japan, Germany and Republic of Korea. -- VNS


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