PM adopts adjustments to ODA-funded economic restructuring project

Illustrative image (Source: http://baochinhphu.vn)

Hanoi (VNA) – The Prime Minister has approved adjustments to an investment plan for the project “The Restructuring for a More Competitive Vietnam” using non-refundable official development assistance (ODA) from the Australian Government.

Accordingly, the project will focus on studying impacts of economic restructuring on gender equality; examining policy on competitiveness and revising the Law on Competition; supervising the enforcement of the enteprise and investment laws, and the implementation of commitments to the European Union (EU) and the ASEAN Economic Community (AEC). 

The implementation of the project will be extended to June 30, 2017. Additional capital for the project will value at 522,000 AUD (around 391,233 USD), including 500,000 AUD (360,000 USD) in non-refundable ODA sourced from the Australian Government, and 490 million VND (21,662 USD) in counterpart capital of the Vietnamese Government.

The Prime Minister asked the Ministry of Planning and Investment to coordinate with the Ministry of Industry and Trade and the Ministry of Agriculture and Rural Development to carry out the adjustments in accordance with the project’s targets and regulations on the management and use of ODA capital.-VNA

VNA