Mid-term public investment need estimated at almost $495m

Under the plan, total public investment need for the period is estimated at nearly VND11 trillion (US$495 million), equal to 75.6 percent of the amount spent from 2011 to 2015.

More than VND8.7 trillion ($391.5 million) from the proposed amount will be sourced from the State budget, some VND950 billion ($42.75 million) from Government bonds and approximately VND1.288 trillion ($57.96 million) from foreign fund.

The mid-term investment will focus on building facilities for education-training and science-technology establishments to assist them in switching to the self-control financing mechanism.

According to the ministry's statistics, it was assigned to manage the spending of almost VND1.6 trillion ($72 million) from the State for 38 public projects, six of which have become operational.

Meanwhile, the ministry mobilised some $17.5 million in four projects from the United Nations and the government of Japan, Germany and Republic of Korea.