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Legal steps for conducting ODA projects simplified

Legal steps for operating ODA projects are simplified to accelerate the disbursement of the soft foreign loans after amendments to nine laws took effect earlier this month, according to the Ministry of Planning and Investment (MPI).
Legal steps for conducting ODA projects simplified ảnh 1The construction of the 5.35km Mai Dich - Nam Thang Long flyover is funded by Japan's ODA. (Photo: VNA)
Hanoi (VNA) – Legal steps for operating ODA projects are simplified to acceleratethe disbursement of the soft foreign loans after amendments to nine laws tookeffect earlier this month, according to the Ministry of Planning and Investment(MPI).

Provisionsfor the implementation of ODA projects set out in the revised Laws on PublicInvestment, Public Private Partnership (PPP), Investment, Housing, Bidding, Electricity,Enterprises, Special Consumption Tax, and Civil Judgment Enforcement were amended in the way that promotes decentralisation, strengthen inspectionand monitoring, and simplify legal steps required for the projects to complete, saidMinister of Planning and Investment Nguyen Chi Dung.

For example,from now leaders of the governing body of B- and C-class projects using ODAfund or other preferential foreign loans are authorised to grant in-principal approvalfor the projects to start. Previously, only the Prime Minister had the right to doso.

Similar rulescan apply to A-class projects which are large in scale and require big amountof investment if they are proved effective in B- and C-class ones.

ODAproviders expect the new provisions will cut time needed for the first disbursementof fund since it gets approval by at least a year.

Accordingto the MPI, the ODA disbursement remains slow in many localities, partly due to lengthyprocess of granting investment licences and bidding./.
VNA
#ODA projects #Legal steps #procedure simplification #ODA disbursement #public investment disbursement #Vietnam #Vietnam news #Vietnam News Agency #Vietnamplus
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