The municipal People’s Committee proposed an increase of capital expenditure from VND29,019 billion (US$1.24 billion) to VND30,992 billion (US$1.33 billion).
Vietnam’s capital city, Hanoi, has decided to allocate a large sum of money on infrastructure projects to be implemented until 2020, aiming to give an impetus to socio-economic development.
The Hanoi People’s Council on April 9 approved a mid-term public investment plan for 25 projects in the 2016-2020 period and the addition of VND1.97 trillion (US$84.6 million) to investment budget plan in 2019.
Accordingly, the council gave a green light to 23 projects of a mid-term investment plan with a total investment of VND5.94 trillion (US$255 million). It as well adjusted the investment policy of another two projects with a total cost of VND915.45 billion (US$39.3 million).
Head of the city’s Economic - Budget Commission Ho Van Nga emphasized the necessity of all aforementioned projects for the people as well as the city’s socio-economic development in terms of education, vocational training, security, transport, technical infrastructure for resettlement areas and irrigation.
Also during this session, the Hanoi People’s Council reviewed the investment plan for 2019 approved in the previous sitting at the end of 2018, with a budget of VND29,019 billion (US$1.24 billion).
Investment procedures of some projects haven’t been completed so far, while other projects still need more capital in the transition period to complete. Therefore, the municipal People’s Committee proposed an increase of capital expenditure from VND29,019 billion (US$1.24 billion) to VND30,992 billion (US$1.33 billion). The number of projects that need funding increased by 162 to 490.
The proposal by the municipal People's Committee was endorsed by the Council.
A road in the west of Hanoi. Photo: Dan Tri
|
Accordingly, the council gave a green light to 23 projects of a mid-term investment plan with a total investment of VND5.94 trillion (US$255 million). It as well adjusted the investment policy of another two projects with a total cost of VND915.45 billion (US$39.3 million).
Head of the city’s Economic - Budget Commission Ho Van Nga emphasized the necessity of all aforementioned projects for the people as well as the city’s socio-economic development in terms of education, vocational training, security, transport, technical infrastructure for resettlement areas and irrigation.
Also during this session, the Hanoi People’s Council reviewed the investment plan for 2019 approved in the previous sitting at the end of 2018, with a budget of VND29,019 billion (US$1.24 billion).
Investment procedures of some projects haven’t been completed so far, while other projects still need more capital in the transition period to complete. Therefore, the municipal People’s Committee proposed an increase of capital expenditure from VND29,019 billion (US$1.24 billion) to VND30,992 billion (US$1.33 billion). The number of projects that need funding increased by 162 to 490.
The proposal by the municipal People's Committee was endorsed by the Council.
Other News
- Vietnam among top investment destinations for SEA investors
- Vietnam looks to support FDI firms as global minimum tax looms
- Factors unlocking Vietnam’s potential in FDI attraction: HSBC
- Opportunity at hand: Leveraging global minimum tax for FDI attraction
- Intel boosts Vietnam’s semiconductor workforce for ambitious goals
- Vietnam: Leading destination for sustainable investment
- Vietnam targets to draw investment in hi-tech industries: Prime Minister
- Vietnam could see strong US investment following upgraded bilateral status: HSBC
- High value investment takes Vietnam to the next level of qualitative growth: HSBC
- The significance of Vietnam for US businesses and why they should take notice: Standard Chartered
Trending
-
Hanoi flowers on postage stamps
-
French market awaits Vietnamese green, sustainable businesses
-
Cooperation and investment: key to effective tourism promotion in Vietnam
-
Carnaval Ha Long 2024 woos tourists with fireworks and drone light shows
-
Affordable, quality tours offered at Hanoi Tourism Festival 2024
-
Introduction of community tourism area in Hanoi herb kingdom
-
Capital Law revision helps Hanoi promote role as nation’s socio-economic hub
-
IT training urged to focus on semiconductors
-
Voluntary social security should cover larger part of informal sector: Experts