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Foreign capital plan adjusted

by VTV417 August 2016 Last updated at 06:40 AM

(Photo illustrated: ANTT)
(Photo illustrated: ANTT)

VTV.vn - The government asked National Assembly Standing Committee to approve the proposal on the adjustment of foreign capital plans for 2016 totalling around 2.25 billion USD on Tuesday.

The National Assembly allocated over 2.19 billion US dollars to ministries and departments while the remainder was set aside for reserve. As of May, 2016, however only 36.1% of the targeted funds had been disbursed.

Deputies of National Assembly Standing Committee stated that the adjustment showed shortcomings in estimates, proposal and allocation of foreign capital. For instance, certain projects which did not meet their requirements were still approved. National Assembly Vice Chairman Phung Quoc Hien disagreed with the deputy minister of Planning and Investment Nguyen The Phuong’s explanation that these were approved as they are promised to meet requirements later.

"The law must be strictly followed. No projects fail to meet requirements should receive the capital. Besides, several projects which satisfy requirements encountered difficulties in receiving capital. Certain capital allocations remain inappropriate", Phung Quoc Hien - National Assembly Vice Chairman - spoke.

"Capital disbursement remains slow. Three localities that didn’t even express a demand still received capital. Meanwhile, the Ministry of Justice have yet to be allocated capital, and Ministry of Culture, Sports and Tourism had investment plan approved from 2014 but its capital allocation plan has not been included in the master plan. In general, the capital allocation plan among ministries and department must be accurately and effectively conducted, to avoid complaints", Nguyen Thi Kim Ngan - National Assembly Chairwoman - spoke.

National Assembly Standing Committee agreed to withdraw 3.5 million USD from the construction of the basic parts of Ta Trach Reservoir to complement the compensation for local resettlement affected by the lake project. In Ta Trach Reservoir Project conducted in 2001, it consisted of two parts of construction and compensation for locals. Yet, until now, only 324 out of 1342 hectares of land were resettled for the residents.

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