Support 2% interest rate worth 40,000 billion VND to build social houses for workers to rent, hire buy…

The State Bank is developing a detailed allocation plan of 2% interest rate support worth 40,000 billion VND to enterprises, cooperatives and business households that are able to repay debts and have the ability to recover; loans to renovate old apartment buildings, build social housing, houses for workers to rent and rent to buy.

This morning 4-6, the Standing Committee of the National Assembly (the Standing Committee of the National Assembly) held a meeting to give opinions on the implementation situation and the expected list, the amount of capital allocated for tasks and projects under the Program on rehabilitation and development. socio-economic (socio-economic) development.

National Assembly Chairman Vuong Dinh Hue chairs the meeting of the National Assembly Committee – Photo: Doan Tan

Presenting a Report on the implementation and expected status of the List and the amount of capital allocated for tasks and projects under the Recovery and Development Program (Socio-Economics), Minister of Planning and Investment ( Planning and Investment) Nguyen Chi Dung said that at the first extraordinary National Assembly session, the National Assembly approved Resolution No. 43/2022/QH15 on fiscal and monetary policies to support the Recovery and Development Program. Socio-economic development, which stipulates objectives, subjects, principles, criteria for capital selection and allocation, specific mechanisms applicable to public investment under this Program, and a number of investment capital expenditure tasks. development investment, increase spending from the State budget up to 176 trillion dong, mainly used in 2022 and 2023.

According to Minister Nguyen Chi Dung, the capital for each task of health (VND 14 trillion), social security, labor and employment (8.15 trillion VND), supporting businesses, cooperatives, business households (40 trillion dong), providing charter capital for the development support fund up to 300 billion dong; investment in infrastructure development 113.55 trillion dong.

At the same time, Resolution 43 also assigns the Government, based on the principles and criteria specified in Clause 1, Article 3 of the Resolution, to urgently review and complete the list of projects using the Program’s funds. report to the Standing Committee of the National Assembly for comments before capital allocation.

Minister of Planning and Investment Nguyen Chi Dung said that the State Bank is urgently developing a detailed allocation plan for the 2% interest rate subsidy of VND 40,000 billion.

Minister Nguyen Chi Dung said that on the basis of the review results and proposals of ministries, central agencies and localities, the Prime Minister has announced the total amount of capital, details of the list and the expected capital level for the project. each task and project of each ministry, central agency, and locality with a total capital of VND 149,201 billion for 4 highway and national highway projects in the field of transportation; 965 billion dong, ministries and central agencies proposed not to allocate capital from the Program, so they were not eligible to announce capital as a basis for approving project investment policies.

The Government proposes that ministries, central agencies and localities must complete project investment procedures within 30 days from the date of receipt of the notice, excluding projects of national importance. At the same time, report to the Government and Prime Minister for the list of tasks and projects that have completed investment procedures to report to the Standing Committee of the National Assembly.

Notably, the Minister of Planning and Investment said that the State Bank is urgently developing a detailed allocation plan for a 2% interest rate subsidy of VND 40,000 billion through the system of commercial banks. for a number of important industries and fields, enterprises, cooperatives and business households that are able to repay debts and have the ability to recover; loans to renovate old apartment buildings, build social housing, houses for workers to rent and rent to buy.

Representative of the Government’s report verification agency, Chairman of the Finance and Budget Committee Nguyen Phu Cuong noted that the Prime Minister announced the capital to ministries, central agencies and localities to be VND 149,201 trillion. , equal to 84.77% of the amount allowed by the National Assembly (maximum is 176 trillion VND). The remaining amount has not been announced about 26.8 trillion dong (of which 14 trillion dong is for the health sector, 11.8 trillion dong is for four highway projects).

Therefore, the Finance and Budget Committee said that the Prime Minister should urgently notify the remaining capital to ministries, central and local agencies to complete investment procedures and submit it to the Standing Committee of the National Assembly for comments. . It is recommended that the Government clearly report the reasons for not being able to notify the capital, solutions to effectively implement Resolution No. 43/2022/QH15 of the National Assembly.

The Finance and Budget Committee also requested the Prime Minister to promptly notify the remaining capital to ministries, central and local agencies to complete investment procedures. The Government directs and urges ministries, central and local agencies to expeditiously complete investment procedures in accordance with regulations so that the Government can complete the list and report to the Standing Committee of the National Assembly for comments before allocating capital.

For 3 highway projects (Bien Hoa – Vung Tau, Khanh Hoa – Buon Ma Thuot, Chau Doc – Can Tho – Soc Trang), the Government is requested to report to the National Assembly for consideration and decision on investment policies. projects of national importance in accordance with the Law on Public Investment.

National Assembly Chairman: The Standing Committee of the National Assembly is ready to meet after hours and extraordinary meetings to quickly support the economy

Through discussion and consideration of the members of the Standing Committee of the National Assembly, concluding this content, National Assembly Chairman Vuong Dinh Hue emphasized that until now, the list and the amount of capital allocated for tasks and projects under the rehabilitation and restoration program have been submitted. Socio-economic development to the Standing Committee of the National Assembly commented that it is very slow, partly reducing the effectiveness of the Program. Therefore, the President of the National Assembly noted that the Government should seriously learn from experience, assess the causes of this delay, clearly specify subjective and objective causes, on that basis, draw lessons and develop solutions. drastic declaration to soon have concrete results of this package of policies according to Resolution No. 43 of the National Assembly.

“We still say that public investment is easy to slow down. If it’s slow to implement other projects, it’s already bad. If it’s slow to implement the economic stimulus and recovery package, the effectiveness of this package will be slower. Still knowing how to perform the task. This case is difficult, but it is necessary to tighten discipline and try to do it soon, not for long,” – the National Assembly Chairman frankly assessed.

The National Assembly Chairperson stated that the Standing Committee of the National Assembly basically agreed with the framework of the list and the amount of capital allocated for tasks and projects under the Socio-Economic Development and Restoration Program. However, the members of the Standing Committee of the National Assembly suggested that the Government urgently notify the remaining capital including 14 trillion VND for the field of health infrastructure and 11,830 billion VND for other projects for ministries and agencies. The central and local governments have grounds to speed up the completion of investment preparation procedures.

Along with that, the Government directs and urges ministries, central and local agencies to quickly complete investment procedures in accordance with regulations so that the Government can complete the list and report to the Standing Committee of the National Assembly for comments before allocating capital. .

“The Government needs to try urgently, which projects and packages are completed first, they should be submitted to the Standing Committee of the National Assembly for comments first, thereby creating favorable conditions for the Government in the implementation. The Standing Committee of the National Assembly is ready to hold after-hours and extraordinary meetings to quick support for the economy,” said the National Assembly Chairman.

The National Assembly Chairman added that the Standing Committee of the National Assembly agreed on the Government’s proposal to spend 9,620 billion VND out of the total package of 176 trillion VND in Resolution 43 of the National Assembly to allocate capital for three expressway projects on the list of highways. The list of important national projects submitted to the National Assembly for consideration and approval at this Third Session. In which, there is 3,800 billion VND for the Chau Doc – Can Tho – Soc Trang expressway project in the phase; more than 2,320 billion VND for the Khanh Hoa – Buon Ma Thuot expressway project phase 1; and 3,500 billion VND for the project and 3,500 billion VND for the Bien Hoa – Vung Tau expressway project phase 1.

Also in the morning session of 4-6, the members of the Standing Committee of the National Assembly voted to approve the list and the amount of capital allocated for tasks and projects under the Socio-Economic Development and Restoration Program.