31st Sea Games - Vietnam 2021 Covid-19 Pandemic
May 24, 2022 / 13:30

Vietnam allocates over US$3.9 billion to three national target programs

The Vietnamese Government will implement solutions to ensure the efficient management and use of the funds.

Vietnam’s National Assembly Standing Committee has decided to allocate over VND92 trillion (US$3.9 billion) from the central budget for the 2021-2025 period to localities implementing three national target programs.

Three national target programs include a program for socio-economic development in ethnic minority and mountainous areas, one for new rural area construction, and another for sustainable poverty reduction. 

 Some US$3.9 billion will be allocated to three national target programs. Photo: Quochoi.vn

Under Resolution No.517 signed by Chairman of the National Assembly Vuong Dinh Hue on May 22, over VND47 trillion (around $2 billion) will be allocated to the implementation of the national target program for socio-economic development in ethnic and mountainous areas.

Meanwhile, VND18 trillion ($777 million) will be spent on the national target program for sustainable poverty reduction and VND27 trillion (nearly $1.2 billion) will be allocated to the national target program for building new-style rural areas.  

The Government will urgently implement solutions to accelerate the above-mentioned programs in accordance with the Resolution of the National Assembly, ensuring the efficient management and use of the funds following Vietnam's law.

Through the implementation of national target programs, a huge resource has been spent on the construction and maintenance of infrastructure works, providing loans to support production and social security policies, making an important contribution to the country's socio-economic development plan.

In the field of building new rural areas, in the past five years, 5,350 communes have been upgraded to reach new rural standards, marking 60.23% of the total communes nationwide.

Meanwhile, the sustainable poverty reduction program has helped to lower the poverty rate nationwide to around 2.75%, with an average reduction of around 1.43 % per annum; that of poor households in poor districts to about 24%, with an average reduction of 5.65% per year.