Source of funds to buy 150 million doses of COVID-19 vaccines in Vietnam

Source of funds to buy 150 million doses of COVID-19 vaccines in Vietnam (Illustration)

Specifically, the government of Vietnam assigned the Ministry of Health of Vietnam to buy, import, receive aid, sponsor, manage, and use the COVID-19 vaccine in 2021 for people aged 18 and over, with a quantity of about 150 million doses. The Minister of Health of Vietnam shall, based on the requirements of epidemic prevention and control, decide on the specific quantity of vaccines to be purchased and imported in each period.

Thus, the fund will come from the following three main sources:

(1) The state budget is guaranteed according to the decentralization of the state budget:

** The local budget is guaranteed for local people and objects managed by the locality.

** The central budget ensures the objects managed by central agencies and supports local budgets according to the following regulations:

- The mountainous provinces, the Central Highlands: The central budget supports 70% of the actual state budget spending according to regulations;

- The remaining provinces and centrally run cities

• Provinces and cities with a rate of regulation of revenues distributed to the central budget of 50% or more: Actively use the local budget reserve for implementation;

• The central budget will fund 30% of the state budget's support.

• Localities have not been able to balance the remaining budget by themselves. The central budget will support 50% of the support from the state budget;

Note: Localities use a maximum of 50% of the local budget reserve and a maximum of 70% of the provincial financial reserve fund to carry out COVID-19 epidemic prevention and control. If the locality spends on COVID-19 prevention and control to a large extent, if the guaranteed local budget exceeds the local resources, including: 50% of the local budget reserve (including all 3 levels of province, district, and commune); 70% of the local financial reserve fund, the central budget will add the difference that exceeds the local resources so that the provinces and cities have enough resources to implement.

(2) Sources of aid, sponsorship, and support from domestic and foreign organizations and individuals, as well as other legal sources of capital

(3) The source is voluntary, paid by organizations and individuals using vaccines.

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