Measures sought to speed up WB-loaned projects

The Nhon - Hanoi Station metro project in Hanoi (Photo: VNA)

Can Tho (VNA) - The Ministry of Planning and Investment chaired a meeting on March 9 to discuss solutions to resolve difficulties and obstacles so as to accelerate the implementation of projects using loans from the World Bank (WB) in the Mekong Delta region, Ho Chi Minh City, and the southern province of Binh Duong.

According to Pham Hoang Mai, Director General of the Department of Foreign Economic Relations under the Ministry of Planning and Investment (MPI), Vietnam has 13 WB loan agreements worth 2.42 billion USD currently being implemented.

There are 40 projects currently in preparation for implementation, with a total capital of 3.22 billion USD. Among these, those prioritised by the WB are mainly in the fields of energy, renewable energy,  and railway, digital transformation, emission reduction, and urban development.

However, he noted that the implementation of projects using WB loans still faces some difficulties such as poor project preparation quality; ambiguity in determining the responsible agencies due to legal gaps, especially for projects implemented in many localities; limited expertise and capacity of investors; insufficient qualified personnel; and delays in compensation, land clearance and resettlement.

Participants at the meeting (Photo: VNA)

Kathleen A. Whimp, Operations Manager for the WB in Vietnam, East Asia and the Pacific, underlined the need to shorten the time for implementing projects.

She said the WB Vietnam also faces challenges in flexibly adjusting the scope of projects as it must adhere to decisions by the Boards of Directors of the WB. She expressed the hope that Vietnam's partners, including the Ministry of Justice, project leading units, investors, and relevant ministries and sectors, will engage in specific discussions with the WB on challenges and discrepancies between the WB’s regulations and Vietnam’s laws, thus finding solutions.

Deputy Minister of Planning and Investment Tran Quoc Phuong said regarding procedures, regulations, and legal provisions related to official development assistance (ODA) projects, Vietnam is currently undergoing the process of amending relevant laws.

To overcome difficulties and expedite project progress, ministries, sectors, and localities suggested the WB coordinate with the MPI and the Ministry of Finance (MoF) to review ongoing projects with proposed adjustments, evaluate, and provide feedback on proposals from agencies and localities.

For new projects, the WB was urged to collaborate with the MoF and relevant agencies to speed up the completion of negotiations and the signing of loan agreements.

Delegates proposed that the WB collaborates with the MPI and the MoF in building  potential projects, simplifying procedures, and ensuring harmony with Vietnam's reality./.

VNA