Approval of the National Reserve Development Strategy until 2030 in Vietnam

Approval of the National Reserve Development Strategy until 2030 in Vietnam (Internet image) 

On April 12th, 2024, the Prime Minister of Vietnam issued Decision 305/QD-TTg approving the National Reserve Development Strategy until 2030.

Approval of the National Reserve Development Strategy until 2030 in Vietnam

The Prime Minister approved the National Reserve Development Strategy until 2030 with the following perspectives and objectives:

(1) Perspectives

- The national reserve is a strategic contingency resource, important for the state, formed from the state budget and legitimate resources mobilized from society, in which state resources play the leading role in proactively and timely meeting the objectives of the national reserve and other tasks assigned by the Government and the Prime Minister.

- The national reserve activities comply with the regulations of the law, under the centralized and unified management of the Government, ensuring transparency, contributing to political stability and sustainable socio-economic development.

- The national reserve resources are balanced and harmoniously arranged in territorial regions and strategic lines nationwide, timely meeting the objectives of the national reserve and other assigned tasks. At the same time, step by step socializing national reserve activities which contributes to increase the national reserve resources.

- Enhancing research and application of scientific and technological achievements to improve the quality of preservation of national reserve goods; promoting the application of information technology and digital platforms in the management and operation of national reserve activities.

(2) Objectives

* General objectives

Improve the effectiveness of management, mobilization, and utilization of national reserve resources. Build a national reserve force with sufficient scale, reasonable structure, strategic and essential commodity inventory to be ready and proactive in timely and effectively meeting the objectives of the national reserve and the tasks assigned by the Government and the Prime Minister.

* Specific objectives

** National reserve resources: Prioritizing allocation of state budget funds for the national reserve and mobilization of legitimate resources outside the state budget to enhance the potential of national reserve resources.

** National reserve goods inventory and assignment of management agencies

- The inventory and quantity of national reserve goods ensure the essential, strategic, and important requirements and have a strong enough scale to intervene in urgent situations.

- The inventory of national reserve goods and assignment of management agencies: Implement according to the regulations in the Decrees of the Government guiding the implementation of the Law on National Reserve and the Decisions of the Prime Minister related to the detailed inventory of national reserve goods.

** National reserve level for certain strategic and essential commodities until 2030

- Food: Aiming to maintain a reserve stock level of around 250,000 tons (rice) by 2025. From 2026 to 2030, based on the actual situation, submit the information to the Prime Minister for a decision on an appropriate annual increase in purchase quantity.

- Rescue and relief materials and equipment: The reserve level meets the requirements of prevention, control, and response to natural disasters, epidemics, and search and rescue operations of ministries, sectors, and localities.

- Salt: using the existing inventory for emergency relief and support for the people in case of sudden and urgent situations, or reducing the supply as decided by the authorized level. In the coming period, no plan is made to increase or replenish the salt reserve.

- Defense and security-related items: strengthening the national reserve of strategic, advanced, and modern items with an annual budget allocation higher than the industry average, ensuring the increase in resources for defense and security to be proactive and ready for the task of protecting independence, sovereignty, unity, and territorial integrity, maintaining political and social security, and other urgent and essential tasks.

- National reserve goods serving agriculture: The reserve level meets the basic requirements for prevention, control, and recovery from the impact of natural disasters, epidemics, and stabilization of production for the people.

- Petroleum and oil: aiming to gradually increase the national reserve level to about 800,000 cubic meters for petroleum products and 1,000–2,000 thousand tons for crude oil by 2030, equivalent to 15-20 days of net import. Continuously improve the legal system for managing national petroleum and oil reserves; based on that, gradually increase the national reserve level in accordance with the infrastructure serving national petroleum and oil reserves approved by the Prime Minister in Decision 861/QD-TTg on July 18th, 2023, regarding the infrastructure planning for national petroleum and oil reserves, gas supplies for the period of 2021–2030, with a vision to 2050, and in line with the capacity of managing national petroleum and oil reserves.

- Medical supplies: The reserve level ensures proactive response to epidemic prevention and control, urgent medical situations, and healthcare needs for the people.

- For goods serving transportation, communication, and broadcasting: the national reserve level is implemented according to the requirements and tasks of each industry and field until 2030.

** Building and improving the national reserve warehouse system and technical infrastructure in an advanced, modern, and large-scale manner, focusing on strategic regions and lines nationwide according to the approved planning by the Prime Minister; being in line with the economic, social, defense, and security conditions, and facilitating the import and export of national reserve goods.

** Investing in research and application of scientific and technological advancements, expanding international cooperation in research and technology transfer for advanced and modern preservation methods that are suitable for Vietnam's climate and socio-economic conditions. This aims to ensure quality, reduce the rate of loss in national reserve goods, improve labor productivity, and protect the environment.

** Promoting the modernization of information technology applications in the management and operation of the national reserve, establishing a centralized database for the national reserve sector connected to national databases of various sectors, fields, and localities to ensure sufficient information for reporting and serve the direction and management of national reserve activities.

More details can be found in Decision 305/QD-TTg, issued on April 12th, 2024.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE