On July 08, 2020, the Standing Committee of the National Assembly promulgates the Resolution No. 973/2020/UBTVQH14 regulating the principles, criteria and norms of allocating public investment using state budget for the period 2021-2025.
In accordance with this Resolution, general principles of allocating public investment using state budget as follows: To comply with the Law on Public Investment, the Law on the State Budget; To ensure the centralized and unified management of objectives, mechanisms and policies; In suitability with the ability to balance investment capital from the state budget in the 5-year financial plan, ensuring macro balances and safety of public debt; To allocate non-dispersed, non-spread, concentrated investment capital.
Besides, public investment capital from central budget allocated to tasks, programs and projects belonging to the investment spending tasks of the central budget shall comply with the law on state budget. A maximum of 30% is reserved for targeted supplementation for localities and allocated according to sectors, fields, excluding capital from projects under the National Target Program and ODA and concessional loans of foreign donors.
In addition, the remaining capital amount is allocated to ministries and central agencies according to branches and fields; to national target programs, important national projects, connection programs, projects, etc.
This Resolution takes effect on the signing date.