Prime Minister Nguyen Xuan Phuc has asked ministries, ministry-level and central agencies as well as centrally-run localities to make middle-term plans for public investment in 2021-2025.

Illustrative image (Source: VNA)

In a directive issued on July 29, the PM said the objective of the plan is to attract and optimise resources for economic development and infrastructure expansion, thus completing goals set for 2021-2030 as well as the socio-economic development plan for the 2021-2025 period.

Public investment should focus on speeding up national target programmes and major projects significant to socio-economic development of the whole country, as well as supporting ethnic minority group and mountainous regions, and disaster-prone and poor areas, asked the PM.

He stressed that public investment should not be poured into projects in which other economic sectors can invest.

Ministries, sectors and localities should mobilise more resources from other economic sectors, especially the private sector through public-private partnerships.

Under the directive, the designing of public investment plan for 2021-2025 should be suitable to the financial plan for the period. The capital will not be spent in programmes and projects in areas that are not covered by public investment.

Ministries, sectors and localities were requested to define prioritised areas for investment, while focusing on paying pre-paid capital from the State budget as scheduled.

According to the directive, agencies should prepare capital for the investment plan in 2020 and the 2021-2025 period, and to pay debts for capital construction arisen before January 1, 2015.