(MPI) - Minister of Planning and Investment Nguyen Chi Dung, authorised by the Prime Minister, delivered a report on the draft Law on Public Investment (amended) at the National Assembly’s ongoing 8th session in Hanoi on October 29.

Minister of Planning and Investment Nguyen Chi Dung delivers a report on the draft Law on Public Investment (amended). Photo: quochoi.vn

Minister Dung said that in order to perfect the draft law, the Government, specifically the Ministry of Planning and Investment, has organised over 20 seminars and 3 workshops in the three regions to collect opinions from localities, as well as holding 1 conference to gather recommendations from international organisations and donors.

He also addressed that draft Law has been hailed by ministries, sectors, localities, international organisations, and foreign donors, particularly in terms of fundamentally addressing existing issues, limitations, and obstacles rising in the implementation of the 2019 Law on Public Investment.

The regulations on decentralisation and delegation of authority have ensured the right role, task and responsibilities for easy monitoring, supervision and evaluation of work, meeting the requirements for managing and using public investment resources to implement three strategic breakthroughs, particularly one of which is infrastructure development in the new situation.

 The draft Law consists of 7 chapters and 109 articles, of which amending 44 articles, including 16 articles amend words to clarify regulations, create consistency and synchronisation in the implementation without changing the policy content compared to the 2019 Law on Public Investment; adding 15 articles; removing 7 articles).

Minister Dung addressed that there are five major policy groups in the draft Law. Firstly, institutionalising pilot, and specific mechanisms and policies that have been authorised by the National Assembly. Secondly, promoting decentralisation and delegation of authority. Thirdly, improving the quality of investment preparation, resource and capacity to implement public investment projects of localities and State-owned enterprises.

Fourthly, promoting the implementation and disbursement of official development assistance (ODA) funding and preferential loans from foreign donors (foreign capital). Fifthly, simplifying procedures and processes, and adding and clarifying concepts, terms, and regulations to ensure the consistency and coherence of the legal system.

Minister Dung said that the issues of amendment, supplement and removal in the draft Law are clear and urgent issues that need to be addressed immediately to speed up public investment resources, striving to reach the highest the goals of the 13th Party Congress, the ten-year strategy of 2021-2030 period, and immediately applying for building the medium-term public investment plan for the period of 2026-2030./.

Bao Linh

Ministry of Planning and Investment