To soon pilot using recurrent funds to renovate existing constructions in Vietnam

To soon pilot using recurrent funds to renovate existing constructions in Vietnam

The Government agreed to report to the Standing Committee of the National Assembly and the National Assembly on the draft Resolution of the National Assembly on piloting the use of recurrent expenditures of the state budget to renovate, upgrade, expand, and build new items in existing facilities and constructions as proposed by the Ministry of Finance in Report 73/TTr-BTC dated 5/5/2023.

The Ministry of Finance receives the comments of the Government members to complete the draft resolution file as prescribed; take full responsibility before the Government, Prime Minister and related agencies for the contents and data of reports and proposals, ensure compliance with regulations,

Assign the Minister of Finance, authorized by the Government, on behalf of the Government to report to the Standing Committee of the National Assembly and the National Assembly in accordance with regulations, ensuring quality and progress as required; be responsible for reporting and explaining to the National Assembly, Standing Committee of the National Assembly and agencies of the National Assembly in accordance with regulations.

Proposal on the content and implementation timeline of the Resolution of the Ministry of Finance

In Report 73/TTr-BTC dated May 5, 2023, the Ministry of Finance proposed the following:

- Policy content of the Resolution The resolution stipulates two policies, including:

+ Policy 1: Permit to pilot the use of recurrent expenditures from the state budget to implement projects with a total budget of less than 15 billion VND to renovate, upgrade, expand, and build new items in existing facilities and works.

Particularly for the construction, renovation, upgrading, and expansion of material foundations and works in the field of national defense and security, and the representative missions of the Socialist Republic of Vietnam abroad continue to carry out the work. according to current regulations on the management and use of budgets for defense, security, and foreign affairs.

+ Policy 2: Assign the Government to promulgate regulations on making, allocating estimates, and managing construction investment projects funded by recurrent expenditures from the state budget; The Ministry of Finance promulgates regulations on the payment and settlement of construction investment projects funded with recurrent expenditures from the state budget.

- Implementation time of the Resolution:

+ The Resolution will be implemented from the effective date of implementation and will be implemented for 5 years - expected from June 1, 2023, to June 1, 2028.

The contents specified in the Resolution are new contents, not yet specified in the Law on State Budget, different from those in the Law on Public Investment.

Therefore, during the implementation of the Resolution, the National Assembly decides to amend the Law on State Budget and the Law on Public Investment; in cases where there are policies related to the content specified in the Resolution, the provisions of the Law on amendment, or replacement shall apply.

+ The Government, within the ambit of its tasks and powers, is responsible for organizing the implementation of this Resolution; preliminary review of 03 years of implementation of the Resolution, report to the National Assembly at the last meeting of 2026; summary of five years of implementation of the resolution, report to the National Assembly at the last session of 2028.

Resolution 71/NQ-CP takes effect from May 6, 2023.

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