NA approves $4.8 bln cultural development program

With the majority of deputies voting in favor, the National Assembly (NA) officially approved a resolution on the investment policy for the National Target Program on Cultural Development for the 2025-2035 Period.

The total minimum capital for implementation in the 2025-2030 period is VND122.25 trillion (over $4.8 billion). This includes VND77 trillion ($3.038 billion) from the State budget (63 per cent), VND30.25 trillion (nearly $1.2 billion) from local budgets (24.6 per cent), and approximately VND15 trillion ($591 million) from other sources (12.4 per cent).

The government will continue to balance the State budget to prioritize additional support for the program, and will seek appropriate measures to mobilize all lawful sources of capital for implementation.

Based on the results of the program’s implementation in the 2025-2030 period, the government will call for the NA to decide on resources for the program in 2031-2035.

The principles for allocating State budget funds to support the program include focused and sustainable investment, prioritizing tasks that need to be carried out first to create breakthroughs in cultural development.