Resolution No. 65/2013/QH13 on the issuance of additional government bonds and allocation of capital for the period 2014-2016

RESOLUTION

Von the issuance and allocation of additional government bond capital

for the period 2014 – 2016

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OF THE NATIONAL ASSEMBLY

SOCIALIST REPUBLIC OF VIET NAM

BASED ON THE CONSTITUTION OF THE SOCIALIST REPUBLIC OF VIETNAM IN 1992 AS AMENDED AND COMPLEMENTED BY RESOLUTION NO. 51/2001/QH10;

Pursuant to the Law on the Organization of the National Assembly; the State Budget Law;

After examining Report No. 433/TTr-CP dated October 22, 2013 of the Government; the Audit Report No. 1612/BC-UBTCNS13 dated October 22, 2013 of the Committee for Finance and Budget; the Explanation and Adoption Report No. 571/BC-UBTVQH13 dated November 25, 2013 of the Standing Committee of the National Assembly regarding the plan for issuing additional government bonds and allocating capital for the period 2014 - 2016 and the opinions of the National Assembly deputies,

RESOLUTION:

Article 1. Total Issuance Amount and Capital Structure of Government Bonds

The issuance of additional government bonds for the period 2014 - 2016 shall be 170,000 billion VND (one hundred seventy thousand billion VND) to invest in four groups of projects and works as follows:

1. Projects to renovate and upgrade National Highway 1A and the Ho Chi Minh Road through the Central Highlands amounting to 61,680 billion VND (sixty-one thousand six hundred eighty billion VND).

2. Projects and works that were ongoing and included in the list of government bond capital for the period 2012 - 2015, reviewed but still lacking capital amounting to 73,320 billion VND (seventy-three thousand three hundred twenty billion VND).

3. The National Target Program on New Rural Development amounting to 15,000 billion VND (fifteen thousand billion VND).

4. Counterpart funds for projects using ODA funds amounting to 20,000 billion VND (twenty thousand billion VND).

Based on the total issuance amount of medium-term government bonds already decided by the National Assembly for the period 2014 - 2016, the Government shall implement the annual issuance of government bonds according to the progress of the projects, ensuring the effective use of government bond capital.

Article 2. Principles for Allocating Government Bond Capital

1. For projects to renovate and upgrade National Highway 1A and the Ho Chi Minh Road through the Central Highlands: Implement according to the list and capital allocation for each specific project attached as an appendix.

2. For ongoing projects and works included in the list of government bond capital for the period 2012 - 2015, reviewed but still lacking capital, allocate capital in the following priority order:

a) Complete ongoing projects and works with remaining capital under 100 billion VND per project within the government bond capital.

b) Projects and works completed and handed over for use before December 31, 2013 but still lacking capital.

c) Allocate sufficient capital according to the schedule for some important projects and works in the fields of transportation, water resources, and healthcare that have significant impacts on economic and social development in regions and areas to complete them quickly and put them into use.

d) Projects and works expected to be completed in 2014 and 2015.

e) Allocate capital for some important projects along the Border Guard Patrol Road Phase 2.

f) For the Project to Create Large-Capacity Ship Channels in the Hau River: Entrust the Government to take responsibility for evaluating the environmental impact and effectiveness of the Project; cut and reduce unnecessary components, only allocate capital for Phase 1 so that the Project can effectively serve its purpose.

On the basis of the total capital specified in Clause 2 of Article 1 and the principles for allocating additional government bond capital stipulated in Clause 2 of this Article, the Government shall promptly develop a list and plan for medium-term capital allocation for the three-year period 2014 - 2016 for each project and work, submit it to the Standing Committee of the National Assembly for consideration and decision before January 31, 2014. Ministries, sectors, and localities continue to mobilize other sources of capital to complete projects and works allocated capital and are responsible for allocating capital for adjustments in total investment due to increased scale.

3. For the National Target Program on New Rural Development:

Allocate capital to invest in infrastructure for communes in accordance with the program's objectives approved by competent authorities; prioritizing concentrated support for particularly difficult communes, border communes, safe area communes according to Decision No. 551/QD-TTg dated April 4, 2013 of the Prime Minister; particularly difficult coastal and island communes according to Decision No. 539/QD-TTg dated April 1, 2013 of the Prime Minister; poor communes according to the criteria set forth in Resolution No. 30a/2008/NQ-CP, 23 poor districts with high poverty rates benefiting from investment infrastructure policies according to Resolution No. 30a/2008/NQ-CP as per Decisions No. 615/QD-TTg dated April 25, 2011 and No. 293/QD-TTg dated February 5, 2013 of the Prime Minister, mountainous districts of provinces adjacent to the Central Highlands, the Mekong Delta region, and other regions; model communes according to central directives. Based on the total capital specified in Clause 3 of Article 1 of this Resolution, the Government shall allocate capital for communes in accordance with the objectives and principles stipulated in this clause.

4. For projects using ODA funds:

Only allocate counterpart funds for centrally-managed socio-economic infrastructure projects and provide counterpart fund support for socio-economic infrastructure projects in poor localities receiving supplementary budget balance transfers from the central government according to the criteria and support standards stipulated in Decision No. 60/2010/QD-TTg dated September 30, 2010 of the Prime Minister. Based on the total capital specified in Clause 4 of Article 1 of this Resolution, the Government shall allocate capital for projects and works in accordance with the principles stipulated in this clause.

Article 3. Regarding supervision, audit, and inspection

The Standing Committee of the National Assembly, the Finance-Budget Committee, the National Ethnic Council, and other Committees of the National Assembly, Delegations of National Assembly Members, National Assembly Members, People's Councils at all levels, State Audit Office, Government Inspectorate shall supervise, audit, and inspect the implementation of this Resolution within their respective duties and authorities./.

This Resolution was adopted by the National Assembly of the Socialist Republic of Vietnam, the thirteenth session, sixth meeting on November 28, 2013./.