Further Government bond issuance approved

The money will be invested in four project categories, including a project on upgrading 1A and Ho Chi Minh highways; uncompleted projects which have been funded by Government bonds in the 2012-2015 period and in short of VND73.3 trillion ($3.4 billion); the national target program on building new rural areas (VND15 trillion, equivalent to $705 million) and counterpart fund for official development assistance (ODA) projects (VND20 trillion or $940 million).

 

The Government will issue bonds annually in accordance with the projects’ implementation to ensure the effecient use of capital.

 

Each project on improving and upgrading 1A and Ho Chi Minh Highways will be invested in accordance with defined allocation list and level.

 

Uncompleted projects funded by the 2012-2015 Government bonds will receive further capital if they face a lack of less than VND100 billion ($4.7 million) and plan to complete and put into operation before December 31, 2013. Prioritized projects are also those related to several important works in transport, irrigation and health care and some others to be completed in 2014-2015.

 

Disadvantaged communes along the border lines, in safety zones and coastal regions and on islands will be invested to develop the infrastructure in accordance with targets set in the national program.

 

ODA projects in developing socio-economic infrastructure under the management of central agencies or building the infrastructure for disadvantaged localities will also receive further counterpart capital in accordance with the Government regulations.