Vietnam's development investment to rise 12.3 pct

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Vietnam's total development investment is set to increase 12.3 percent from 2009 to VND791 trillion (US$41.4 billion) this year, a government official said Thursday.

The total investment will be equal to 41 percent of the country's gross domestic product, Minister of Planning and Investment Vo Hong Phuc said during a video conference on construction investment.

Investment from the state budget, government loans and bond proceeds will account for 30 percent of the total number while the rest will come from foreign investors, local businesses and other sources, he said.

Most of this year's government bond proceeds will be allocated to infrastructure, healthcare and education projects, Phuc said.

Prime Minister Nguyen Tan Dung told the conference that infrastructure construction is a priority for the country this year.

It's important that capital is raised and used effectively so that the country can achieve its social and economic development targets, he said.

Dung also asked the Ministry of Natural Resources and Environment to work with cities and provinces to speed up land clearance and support relocated residents.

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