As investment demand for infrastructure, environmental protection, national disaster prevention and control, and climate change adaptation is high and urgent, it is necessary to develop and implement effectively the medium-term (five-year) investment plan to further spur the nation’s production capacity and socio-economic development both in medium- and long-terms.

Future investment capital must be steered into key sectors, regions, and key national-level projects as well as urgent and important projects of localities in a bid to increase efficiency of public investment.

Public investment should also be given to projects on natural disaster and disease prevention and control, climate change adaption, and social security and welfare.

The Government determines to overcome scattered and inefficient investment and timely remove investment barriers, especially those related to institutions, administrative procedures, and site clearance.

Regarding the role of public investment, the Government clarifies that public investment will play a central role in stimulating investment from private sector in the socio-economic development process, especially in infrastructure development.

The Government ordered ministries, agencies and localities to promptly review all projects scheduled for investment in the next five years and cut those which are not truly necessary and ineffective.

The total number of projects included in the medium-term public investment plan must be reduced to around 5,000.

The Ministry of Planning and Investment shall strengthen inspection and supervision of observation of public investment disciplines, strictly control the efficiency of public investment, and ensure openness and transparency in mobilizing, managing and using loans./.