Building specific mechanisms and policies to create more resources for Nghe An development

At the conference to disseminate and implement Resolution No. 39 of the Politburo on the morning of September 16, Deputy Minister of Finance Vo Thanh Hung presented a discussion on specific mechanisms and policies to attract resources for the development of Nghe An province in the spirit of Resolution No. 39 of the Politburo.

Deputy Minister of Finance Vo Thanh Hung emphasized that Nghe An is the province with the largest natural area in the country, the 4th largest population in the country, has borders, and has 5 modes of transportation. Nghe An is a province rich in revolutionary cultural traditions, the homeland of President Ho Chi Minh; diverse natural conditions, rich resources, and abundant human resources.

In recent times, the province's economy has developed quite rapidly, with an average growth rate of over 7% in the 2015-2020 period, higher than the national average; GRDP scale ranks 2nd in the region and 12th in the country. The economic structure has shifted positively. Nghe An is emerging as a locality attracting large FDI projects... This is an important foundation for the province to achieve socio-economic development goals, improving the material and spiritual life of the people.

The total state budget revenue of the province in the period was 137,795 billion VND (ranked 6th out of 14 localities in the North Central and Central Coast regions, ranked 17th out of 63 localities nationwide). The average annual revenue growth rate was 14.4%/year, higher than the average revenue growth rate of the whole country (9.1%/year).

The total local budget expenditure of the province is 180,738 billion VND (the expenditure ranked 2nd out of 14 localities in the North Central and Central Coast regions, ranked 5th out of 63 localities nationwide); the average annual growth rate of local budget expenditure of the province is 9.7%/year, higher than the North Central and Central Coast regions (9%/year), higher than the growth rate of expenditure of the whole country (9.2%/year).

To create conditions for Nghe An province to have more resources for investment and development, the Ministry of Finance has proposed that the Ministry of Planning and Investment synthesize and submit to competent authorities, and submit to the National Assembly to issue Resolution No. 36/2021/QH15 dated November 13, 2021 on piloting a number of specific mechanisms and policies for the development of Nghe An province.

In particular, Nghe An province is allocated an additional 45% of the expenditure calculated according to the population norm when building the regular expenditure norm of the state budget in 2022 and during the implementation of this Resolution. Every year, the central budget will supplement the budget of Nghe An province with a target of not more than 70% of the increase in revenue from export and import activities of export and import goods compared to the estimate assigned by the Prime Minister. In addition, the province's outstanding loan balance will be increased to 40%.

Implementing Resolution No. 36 of the National Assembly, from the 2022 budget year, the Ministry of Finance has chaired the submission to the Government for submission to the National Assembly for approval of the total loan amount in the 2022 budget year of 329.9 billion VND; the 2023 budget is 264.8 billion VND, each year Nghe An province is supported with about 1,800 billion VND to have more resources for development.

On July 18, 2023, the Politburo issued Resolution No. 39-NQ/TW, assigning the Government Party Committee to lead and direct the issuance of the Action Program to implement the Resolution; Develop a number of specific mechanisms and policies for the development of Nghe An province to submit to the National Assembly for promulgation in the direction of both continuing to implement Resolution No. 36/2021/QH15 of the National Assembly and studying and supplementing mechanisms and policies to implement the goals and solutions according to Resolution 39 of the Politburo.

Implementing the direction of the Politburo, as assigned by the Government and the Prime Minister, the Ministry of Planning and Investment is presiding over the development of the Government's Action Program to implement Resolution No. 39. In particular, it is expected that Nghe An province will be assigned to preside over the "Project to propose additional mechanisms and policies specific to Nghe An province".

The Deputy Minister of Finance emphasized that the addition of mechanisms and policies in the coming time must aim at the goal of mobilizing all resources, unleashing the potentials and strengths of the province, including human resources. Regarding financial resources, it is necessary to mobilize state resources, including central, local and social resources; foreign investment resources, in which public investment resources play a leading role, attracting investment resources; internal resources play a decisive role, external resources play an important role in promoting the effective use of domestic resources.

The Ministry of Finance will closely coordinate with Nghe An province and the Ministry of Planning and Investment in developing specific mechanisms and policies to report to competent authorities for decision, thereby contributing to mobilizing resources, such as researching preferential tax policies; promoting and mobilizing ODA capital and preferential loans for important infrastructure projects, connecting the province's dynamic regions, with provinces in the North Central and Central Coast regions, connecting Nghe An with other localities in the country and the world.

With Resolution No. 26, it took nearly 10 years to institutionalize specific mechanisms and policies with Resolution No. 36/2022 of the National Assembly. This time, under the close direction of the Politburo and the Secretariat; the timely direction of the Government and the Prime Minister, especially the proactive and highly determined participation of Nghe An province, Deputy Minister of Finance Vo Thanh Hung believes that appropriate solutions will be found to mobilize more resources for the socio-economic development of Nghe An province, thereby soon making Nghe An a well-off province of the country in the spirit of Resolution No. 39 of the Politburo and the wish of President Ho Chi Minh during his lifetime.