Using the general reserves and central budget reserves for ministries, agencies, and localities in Vietnam

Using the general reserves and central budget reserves for ministries, agencies, and localities in Vietnam

The National Assembly has resolved the content of using the general reserve of the central budget of the mid-term public investment plan for the period 2021–2025.

It is allowed to use VND 63,725 trillion from the general reserve of the central budget of the mid-term public investment plan for the period 2021–2025, corresponding to the increase in central budget revenues in 2022.

Specifically:

- Allocating VND 33,156.987 trillion to detailed ministries, central agencies, and localities according to each sector and field to fulfill tasks and projects that have undergone the necessary investment procedures reported to the National Assembly during the 5th extraordinary session of the 15th National Assembly. The Prime Minister will direct the review and allocation of funds for tasks and projects in accordance with the provisions of the Law on Public Investment (Details are attached to Resolution 112/2024/QH15)

- For the remaining amount of VND 30,568.013 trillion, which is planned to be allocated to projects that have been reported to the National Assembly during the 5th extraordinary session of the 15th National Assembly but have not completed the investment procedures as required: The Government will direct the relevant ministries, central agencies, and localities to urgently complete the investment procedures within their jurisdiction, report to the National Assembly for consideration, and decide on the allocation of the mid-term public investment plan to ministries, central agencies, and localities once the investment procedures are completed in accordance with the law. In urgent cases between two National Assembly sessions, report to the National Assembly Standing Committee for consideration and decision on allocation, and report to the National Assembly at the nearest session.

For 4 projects: (1) National Data Center, (2) Provision of new firefighting and rescue uniforms for the Fire Prevention and Fighting Police force, (3) Investment in equipment and technical facilities for the frontline forces in the period 2021 - 2025, and (4) Investment in equipment for Ward Police, the competent authorities are allowed to decide on the investment direction of the project based on the source of funds and the estimated capital from the general reserve of the central budget of the mid-term public investment plan for the period 2021 - 2025, corresponding to the increase in central budget revenues in 2022 and the remaining capital compared to the planned total investment from other legal sources.

The Government will ensure the funding and capacity to balance the capital to prioritize the allocation of the remaining capital compared to the planned total investment of the projects in accordance with the provisions of the law.

For important national projects, the Government will submit them to the National Assembly for consideration and decision on investment policy in accordance with the provisions of the Law on Public Investment.

More details can be found in Resolution 112/2024/QH15, approved on January 18, 2024.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE