Development Investment Rises 11 per cent in First Two Months
Total capital from the State budget for development investment in Vietnam in the first two months of the year rose 11 per cent on-year to VND7.75 trillion (US$490.5 million), reported the Ministry of Planning and Investment (MPI).
The capital used to support the export sector reached VND330 billion (US$20.9 million), accounting for 9 per cent of the annual plan.
The ministries of Agriculture and Rural Development, Transport and Defense are among the biggest recipients of the state budget allocation, said MPI.
Investment capital was spent mainly on pushing up the implementation of key projects and paying off bad debts in infrastructure construction from last year, the ministry said.
This year, total social development investment capital is targeted to make up 38.6 per cent of the country’s GDP, according to the National Assembly.
In 2005, the country allotted VND320 trillion (US$20.3 billion) for development investment, a year-on-year increase of 16.4 per cent.
VNA
Vietnamese
