The General Department of State Reserves set a target that total national reserve will double that of 2020 by 2025, and will double of that of 2025 by 2030.

By the end of 2020, the total national reserve hit more than VND11,000 billion.
Photo: Internet.

Total national reserve hit over VND11,000 billion

The State budget has allocated more than VND 8,000 billion to the national reserve for 2011-2020. At the end of 2020, the total national reserve exceeded VND11,000 billion, an increase of 1.25 times in 2015 and 1.7 times higher than in 2010, according to the General Department of State Reserves.

The gradual increase in national reserve resources contributes to the initiative for the Government and the Prime Minister in the management, administration, provision, distribution, and the use of national reserve goods.

From 2011 to the end of 2020, the Prime Minister assigned ministries and branches to provide national reserve goods with a total value of about VND15,500 billion to respond to arising tasks, contributing to stabilising lives and production of people in areas affected by natural disasters and pandemic; ensuring security and defence; strengthening international relations and performing other tasks assigned by the Government and Prime Minister.

The General Department of State Reserves said the national reserve potential was still limited in the past period. Specifically, the total national reserve level is still lower than GDP, only reaching about 0.18% of GDP while the strategic orientation is set to reach about 1.5% of GDP.

The State fund for buying additional national reserve still depends on the general balance and only meets about 50-60% of the demand, leading to the fact that the national reserve level of some essential goods has not met the set orientation.

Moreover, the list and structure of national reserve goods is complex and the reserve warehouse system has not been met with planning approved by the Prime Minister.

Notal national reserve level is expect to double that of 2020 by 2025

According to the General Department of State Reserves, in 2021-2030, complex developments of climate change, natural disasters, disasters and diseases, especially the Covid-19 pandemic have negatively impacted most aspects of social life.

Some security and defense issues still contain many unpredictable risks, requiring a strong national reserve potential to respond to unexpected and urgent situations.

To strengthen national reserve resources in the new period and effectively use the State budget for national reserves, the General Department of State Reserves sets a goal of improving the efficiency of management and use of national reserve resources; building a strong national reserve force, and a list of strategic, essential, advanced and modern items, with a high frequency of use to respond in emergency situations for prevention, combat and overcoming of consequences of natural disasters, catastrophes, fires and pandemic; serving national defence and security and tasks assigned by the Government and the Prime Minister.

To achieve the goal, national reserve resources must be developed and improved, ensuring the total national reserve level is double of that of 2020 by 2025 and will be about two fold of that in 2025 by 2030.

The national reserve level of several essential commodities must gradually grow every year (food, defence and security goods) to meet all requirements of assigned tasks.

It also sets a requirement that the advanced, modern and large-scale warehouse system must be basically completely built in strategic regions throughout the country by 2030. The system must be in line with socio-economic, national defence and security conditions and facilitate importing and exporting of national reserve goods.

Funds for national reserve warehouse system must be allocated according to the master plan on the warehouse system up to 2030 and detailed planning of each ministry or branch.

The reserve sector will also promote the research and application of advanced and modern preservation technologies in line with Vietnam's climate and socio-economic conditions to preserve quality national reserves.

Promote socialisation and attract resources outside the state budget for the national reserve to strengthen the potential and invest in facilities and technical infrastructure for the national reserve.

To strengthen resources and effectively manage and use national reserves in the near future, the national reserve sector must complete the legal framework, as a basis for the management and administration of national reserve activities.

It is necessary to allocate the State budget to strengthen the national reserve resources.

Focus on purchasing strategic, essential, frequently used items that respond promptly to unexpected and urgent situations, and remove unsuitable items from the list of reserve goods.