NA agrees to issue VND45 trillion in gov’t bonds

The National Assembly (NA) has agreed on the issuance of government bonds worth VND45 trillion in 2011 to mobilise capital for the country’s socio-economic development projects.

Soldiers help residents evacuate from flood-hit areas in central region in September flood in 2010. Bond capital will be prioritised for flood hit provinces in the country.

his information was announced at the closing session of the NA Standing Committee’s 37 th meeting in Hanoi on Jan. 7.

This is the first year of the national socio-economic development plan in the 2011-2015 period, however, the NA is yet to decide on the government bond issuance programme for the entire five-year period.

The majority of Standing Committee members agreed to prioritise the allocation of government bond capital for urgent transport, irrigation projects, healthcare and educational facilities, especially in poor and less-developed localities and flood-hit areas, as well as projects that are likely to be completed in 2011 and 2012.

NA Vice Chairman Nguyen Duc Kien proposed government bond capital should be prioritised for the northern mountainous region, provinces hard hit by floods, central provinces with difficulties, remote areas in the Central Highlands , localities being separated in the southwestern region, and key economic zones.

The NA has decided to carry out 15 national target programmes in 2011 and requested relevant agencies to work out criteria and plans to allocate capital for those programmes by Jan. 31.

At the session, the NA Standing Committee made an initial review of the implementation of its plan No. 900 UBTVQH pertaining to the execution of the Party Political Bureau’s resolution No. 48-NQTW on a strategy to build and perfect the Vietnamese legal system in 2010 and orientations to 2020.

It oversaw preparations for the 12 th Legislature’s ninth session and gave comments on the draft resolution on the election date and the establishment of the election council for the 13 th Legislature and the people’s councils at all levels.

Source: VietnamPlus

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