PM adjusts Government bond capital plans

VGP – The PM has signed a decision on the downward adjustment of Government bond capital plan and the supplementation of capital to the projects using the residual 2014-2016 Government bond capital (yet to be allocated) of renovation projects for the National Highway 1A and the Ho Chi Minh Road section through the Central Highlands.

June 07, 2017 11:22 AM GMT+7

Specifically, the Government bond capital for National Highway 1A and Ho Chi Minh Road renovation projects in the 2014-2016 period will continue to be cut by a sum of VND1.349 trillion (US$59.35 million) in in line with Decision No. 1977/QD-TTg dated October 14, 2016 and Decision No. 2426/QD-TTg dated December 12, 2013.

Meanwhile, the same amount from the residual Government bond capital (yet to be allocated) of those renovation projects will be added to other projects.

The PM assigns the Transport Ministry (MOT) to promptly review the size and design to ensure thrift and investment efficiency of the listed projects and finalize investment procedures for them in line with current regulations. The ministry is also tasked with recommending measures to handle difficulties and shortcomings, which will be sent to the Ministry of Planning and Investment (MPI) and the Ministry of Finance (MOF) before being submitted to the PM.

In addition, the MOT is responsible for informing units about the investment plan of the residual 2014-2016 Government bond capital (yet to be allocated) mentioned above, so that the plan will be implemented in accordance with the law. The deadline for capital disbursement and implementation is December 31, 2017.

The MPI decides on the downward adjustment of the 2014-2016 Government bond capital of National Highway 1A and Ho Chi Minh Road renovation projects, and assigns the residual Government bond capital to the projects prescribed in the list.

The ministry is also responsible for working with the MOT and the MOF to finalize investment procedures for the projects using the residual 2014-2016 Government bond capital (yet to be allocated) in line with the Law on Public Investment and relevant laws, and coordinating with the MOF to supervise the implementation the investment plan of the residual Government bond capital.

By Vien Nhu