Government approves 5-year investment boost

Wednesday, 2016-08-31 16:05:13
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Milk cartons packaged at the Thong Nhat factory, an affiliate of dairy giant Vinamilk. (Credit: VNA)
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NDO/VNA – Three mega programmes covering agricultural restructuring, fisheries and forestry development, and disaster prevention have been allocated VND640 trillion (US$29 billion) in a five-year investment boost approved in a government resolution recently.

The three programmes fall under the purview of the Ministry of Agriculture and Rural Development.

The government resolution covers investment plans for 21 targeted programmes during the 2016-2020 period.

Other major allocations in the plan include VND42 trillion (US$2 billion) to the Ministry of Health for developing public health care programmes at the grassroots level.

The Ministry of Public Security will manage an investment of VND9 trillion (US$414 million) to improve traffic safety, fire-fighting and crime prevention, including drug abuse.

The plan allocates VND27 trillion (US$1.2 billion) to the Ministry of National Defence for developing the national defence industry and the Ministry of Investment and Planning will manage four programmes worth nearly VND282 trillion (US$13 billion) to develop coastal infrastructure, high-tech industrial zones and border economic zones.

The development of education in remote and mountain areas as well as a programme to promote vocational training and labour safety nation-wide have been allocated around VND5 trillion (US$225 million) and VND27 trillion (US$1.2 billion) respectively. These projects will be managed by the ministries of Education and Training (MoET) and Labour, Invalids and Social Affairs (MoLISA).

Others ministries including the Ministry of Natural Resources and Environment; Information and Communication, and Trade and Industry will manage a total investment worth about VND58.5 trillion (US$2.6 billion) for environmental protection, electricity supply to islands as well as rural and mountainous areas, and information technology development.