(VOVworld) – Lawmakers in their Friday discussions agreed that the issuance of 8 billion USD worth of government bonds for the next 2 years should be made full use of by carefully selecting investment projects. Deputies stated that the additional issuance aims at increasing investment for economic development, upgrading infrastructure, and completing on-going investment projects. However, they added that a majority of that government revenue should be used to improve traffic infrastructure, deal with climate change issues, and balance spending to ensure the public debt limit while possibilities to clear debts should be cautiously considered.
NA deputies discuss major issues in groups. Photo: na.gov.vn
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Reviewing the 3 year implementation of National Target Programs for the 2011-2015 period, deputies agreed that these programs had helped to ensure social welfare and develop new rural areas. But they also cited a number of shortcomings such as overlaps in management, capital distribution, and the selection of investment projects. They proposed the programs be restructured with increased supervision for higher efficiency in the future. Representative Deputy Tran Quoc Tuan from the southern province of Tra Vinh said: "Management measures should be tightened within a common supervision framework. I propose a decentralized mechanism, clarifying the responsibility of each level. These programs should be carried out in combination with other local projects."
Some deputies suggested that next year’s budget allocation plan should not be equally divided as this could hinder the investment to be allocated to more competitive projects that could generate income for the state budget. They also urged local authorities to mobilize social investment instead of relying completely on the state budget.