Amendments to the regulations on the preparation of the 5-year medium-term public investment plan in Vietnam

12:00, 10/07/2024

Recently, the Standing Committee of the National Assembly Session XIV issued Resolution 974/2020/UBTVQH14 amending and supplementing several provisions of Resolution 343/2017/UBTVQH14, which stipulates the preparation, appraisal, and decision-making of the national 5-year financial plan, the 5-year medium-term public investment plan, the national 3-year state budget financial plan, the state budget estimate, the central budget allocation plan, and the annual approval of the state budget settlement.

According to Resolution 974, which amended Article 5 of Resolution 343, regulations for the 5-year medium-term public investment plan using the state budget are specified. To be specific:

- The basis for planning is regulated under Clause 1, Article 47 of the Public Investment Law;

- The content of the plan is formulated as per the provisions in Article 49 of the Public Investment Law;

- By September 20 of the fifth year of the National Assembly term, the Government of Vietnam shall present the plan for the subsequent phase to the Standing Committee of the National Assembly (UBTVQH) for feedback to finalize and submit it to the National Assembly for opinion at the last session of that year;

- Based on the feedback from the previous National Assembly, the Government of Vietnam shall finalize the plan and send it to the new National Assembly delegates no later than 20 days before the opening of the first session of the new National Assembly term.

Details can be found in Resolution 974/2020/UBTVQH14, effective from the 2021 budget year.

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