Nearly 62,700 billion VND from the Medium-Term Public Investment Plan reserve fund will be poured into transportation projects and for EVN to bring power to Con Dao.
Authorized by the Government to present a report to the National Assembly on the morning of January 16, Finance Minister Ho Duc Phoc said that five sectors and industries were proposed to receive additional public capital, including national defense and security, state management, science and technology, and transportation. The total capital proposed to be allocated to public investment projects is more than VND63,720 billion.
About 91% of this amount is expected to be allocated to 32 transport projects, equivalent to VND57,730 billion. This is to complete a synchronous and modern strategic infrastructure system and strive to have over 3,000 km of expressways by 2025.
Of these, according to Minister Phoc, 66% of projects and tasks have had investment procedures, are eligible for assignment and have additional capital plans, nearly 33,160 billion VND. The remaining 30,570 billion VND is expected to be poured into the list of projects that have not met investment procedures.
In this presentation, the Government also proposed that the National Assembly allocate a central budget capital plan of more than VND2,520 billion to EVN to extend grid power to Con Dao. Currently, electricity is delivered to this island district using diesel, but it is not enough to meet the actual electricity demand here and the price is high (electricity produced from oil costs about VND5,000-6,000 per kWh).
Supplying electricity from the national grid via a 110 kV submarine cable across the sea is the optimal solution, ensuring stable and safe power supply for the island's grid, according to Minister Ho Duc Phoc. The total investment for this project is about VND4,950 billion, of which the capital from the central budget is about VND2,526 billion, the remaining capital is EVN's own capital, nearly VND2,424 billion.
Finance Minister Ho Duc Phoc presented a report to the Government at the morning meeting on January 16. Photo: National Assembly Press Center
Examining the Government's proposals, the National Assembly's Finance and Budget Committee said that the majority of opinions at this agency agreed to submit to the National Assembly for permission to use more than VND 63,720 billion of the 2021-2025 Central Budget Medium-Term Public Investment Plan for public investment projects.
However, the auditing agency found that the determination of capital and the ability to balance funds for some of the 33 projects and tasks that will be allocated capital is "uncertain". Therefore, the Finance and Budget Committee requested the Government to take responsibility for the data submitted to the National Assembly and explain more clearly the capital sources and the ability to balance money for these projects.
Regarding the list of projects that have not completed investment procedures with an expected capital investment of nearly VND 30,570 billion, the Committee proposed that the Government complete the investment procedures. In the case between two National Assembly sessions, the Government will report to the National Assembly Standing Committee for consideration, decision and report at the nearest session.
For projects with total capital falling within the criteria of national important projects, the Government needs to report to the National Assembly for consideration and decision on the project's investment policy according to the Law on Public Investment.
With capital invested in EVN to bring electricity to Con Dao, the Finance and Budget Committee agreed and proposed that the Prime Minister adjust the decision to approve the investment policy, assigning this group as the agency to decide on project investment.
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