Supervising new projects funded with Government bonds

A majority of the deputies agreed with the Government’s report to supplement five new projects funded by Government bonds in the 2012-2015 period, including the construction of a coastal road in Ninh Thuan province to serve the key Ninh Thuan 1 and 2 nuclear power plant projects; the Nam Can bridge in Ho Chi Minh City; Kim Xuyen bridge in Tuyen Quang province; the Tra Vinh University dormitory; and the Da Nang City Cancer Hospital.

Deputy Tran Du Lich from Ho Chi Minh City said the five projects are very significant for boosting the country’s socio-economic development but their implementation needs to be supervised closely and transparency and accountability must be endured.

Minister of Planning and Investment, Nguyen Quang Vinh, said the Government will consider the additional projects carefully before submitting them to the National Assembly.

Deputies also discussed the 2010 State budget balance sheet on the same day.

Ensuring national reserves

During discussions about the draft law on the national reserves, most of the deputies agreed that this law should replace the current outdated ordinance to meet the new requirements for ensuring national defence and security, preventing natural disasters, and stabilising prices and the macro economy.

Deputies Nguyen Van Tuyet from Ba Ria-Vung Tau, Le Van Hoang from Da Nang and Nguyen Minh Phuong from Can Tho suggested narrowing the purposes for which the national reserve can be used, as outlined in Article 1, to avoid inappropriate dispersion and ensure the intended targets are reached.

Other deputies proposed that capital should also be mobilised from businesses, organisations and individuals to help stock the national reserves and ease pressure on the State budget.

Deputies Tran Ngoc Vinh from Hai Phong, Phung Duc Tien from Ha Nam and a few others also disagreed with Article 21, which states that the total amount in the national reserves should be increased annually because it depends greatly on the ability to balance the State budget.