MoT budget confirmed

January 12, 2017 | 20:25

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The Vietnamese transport sector disbursed an estimated VND63.68 trillion ($2.89 billion) in 2016, meeting 82.6 per cent of the annual target.

Deputy Minister of Transport Nguyen Nhat said at the ministry’s 2016 year-end review on January 10 that, of the sum, VND20.24 trillion came from the state budget, VND13.14 trillion ($597.27 million) from government bonds, and VND29.68 trillion ($1.35 billion) from non-state funds, meeting 88.6, 61, and 92.75 per cent of the yearly targets, respectively.

Nhat blamed the underperformance mainly on the inefficient development of disbursement plans and insufficient capacity in assessing the surplus investment capital during the development of projects.

The total disbursement in the sector is forecast to reach over VND69 trillion ($3.14 billion) by the end of January 2017, fulfilling 90.4 per cent of the annual target, he added. The figure will include VND22.83 trillion ($1.04 billion) in state funds and VND16.53 ($751.36 million) worth of government bonds, meeting 99.9 and 76.8 per cent of the yearly targets.

Last year, the government allocated VND49.46 trillion ($2.25 billion) for the Ministry of Transport (MoT) to carry out its development projects.

This year, the ministry aims to disburse VND51.56 trillion ($2.34 billion) in total, of which VND31.6 trillion ($1.44 billion) will be state funds and VND20 trillion ($909.1 million) non-state funds.

The MoT also targets to achieve a growth rate of 8-9 per cent in cargo and passenger transport this year, and a 10 per cent growth for the railway industry.

As planned, the ministry will be allocated VND133.4 trillion ($6.06 billion) of state funds from the mid-term public investment plan for development projects in 2016-2020.

By By Bich Thuy

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