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Official Gazette

Tuesday, June 6, 2023

Public investment plan for 2021-2025 period accelerated

Updated: 09:00’ - 31/05/2021
Prime Minister Pham Minh Chinh on May 23 signed Directive No. 13/CT-TTg clarifying the major guidelines for formulation of medium-term public investment plan for the 2021-2025 period.

As the demand for investment in infrastructure, environmental protection, national disaster prevention and control, and climate change adaptation is high and urgent, it is necessary to develop and implement effectively a medium-term investment plan to create new production capacity and promote socio-economic development for the country both in medium- and long-terms.

Future investment capital must be steered into key sectors, regions, and key national-level projects as well as urgent and important projects scheduled to be implemented in localities in a bid to increase efficiency of public investment.

Public investment should also be made in projects on natural disaster and disease prevention and control, climate change adaption, and social security and welfare.

The Government determines to address thinned-out and inefficient investment and promptly remove investment barriers, particularly those related to institutions, administrative procedures, and ground clearance.

Regarding the role of public investment, the Government clarifies that public investment plays the key role in stimulating investment from private sector in the socio-economic development process, especially in infrastructure development.

The Government directs ministries, agencies and localities in promptly reviewing all projects scheduled for investment in the next five years and cut those which are not truly necessary and ineffective.

The total number of projects included in the medium-term public investment plan should be reduced to around 5,000.

Under the Directive, the Ministry of Planning and Investment is urged to intensify inspection and supervision of
observance of public investment disciplines, strictly control efficiency of public investment, and ensure openness and transparency in mobilizing, managing and using loans.- (VLLF)


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