Gov’t determined to hasten ODA, concessional loan disbursement: Deputy PM

Deputy Prime Minister Tran Luu Quang on March 27 stressed the Vietnamese Government’s determination to speed up the disbursement of official development assistance (ODA) and concessional loans.
Gov’t determined to hasten ODA, concessional loan disbursement: Deputy PM ảnh 1Deputy PM Tran Luu Quang addresses the meeting of the national steering committee on ODA and concessional loans in Hanoi on March 27. (Photo: VNA)
Hanoi (VNA) – Deputy PrimeMinister Tran Luu Quang on March 27 stressed the Vietnamese Government’s determinationto speed up the disbursement of official development assistance (ODA) and concessional loans.

He made the remarks while chairing a Hanoi meeting of the national steering committee on the capital.

The event also saw the presence ofrepresentatives of the World Bank (WB), the Asian Development Bank (ADB), theJapan International Cooperation Agency (JICA), the Export - Import Bank of Korea(KEXIM), the French Development Agency (AFD), and the KfW Development Bank of Germany.

Quang appreciated the development partners’ capital for Vietnam, describing this as critical to the country’s socio-economic and infrastructure development.

However, he also pointed out certainlegal obstacles, policy and procedural differences between Vietnam and partners,and problems in disbursement and payment procedures.

Asking the two sides to coordinateclosely to harmonise procedures to shorten the time needed for projectpreparation and implementation, he also suggested the partners adopt more flexibleand reasonable management models and prioritise funding for the country’sefforts to cope with specific circumstances like climate change and naturaldisasters.

The Deputy PM also orderedministries, sectors, and localities of Vietnam to work closely with the partnersto devise solutions to difficulties facing each project.

At the meeting, the developmentpartners pledged to continue providing ODA for Vietnam and expressed their readiness to assist the Government in issuing regulations on ODA capital managementand use.

They underlined the need to harmonisetheir regulations and legal rules of Vietnam when it comes to ODA projects toshorten project preparation time.

The partners also recommended Vietnamcontinue streamlining administrative procedures and accelerating opinion provisionduring project preparation and implementation.

The Ministry of Planning andInvestment (MPI) reported that the ODA capital and concessional loans Vietnamsigned for the 2021 - 2023 period was about 3.35 billion USD. Ministries,sectors, and localities implemented 656 projects, including 47 investment projects,215 technical assistance ones and non-project grants.

In2023, the National Assembly approved 29 trillion VND (1.75 billion USD) in publicinvestment funded by foreign capital sources for allocation. About 50.9% of thesum was disbursed. The public investment funding from foreign sources for 2024is 20 trillion VND, 1.42% of which had disbursed as of February 29, statisticsshow./.
VNA

See more

Illustrative photo (Photo: VNA)

Quang Ninh sets land clearance as priority for FDI attraction

The northern province of Quang Ninh is on a mission to cement its status as one of Vietnam's premier destinations for foreign direct investment (FDI), with a strategic focus on land clearance for industrial park infrastructure projects this year.

Deputy Prime Minister Tran Hong Ha at the 12th meeting of the national steering committee for IUU fishing prevention and control on January 14 (Photo: VNA)

Deputy PM orders enhanced fishery management tools

Deputy Prime Minister Tran Hong Ha has asked the Ministry of Agriculture and Rural Development to complete the comprehensive integration and smooth connectivity to the national fisheries database (VN-Fishbase), vessel monitoring system (VMS), and electronic traceability system (eCDT) in Q1, ensuring seamless data flow from central to local authorities, a move to clamp down on illegal, unreported and unregulated (IUU) fishing.

A view of the Van Phong economic zone in Khanh Hoa province. (Photo: VNA)

Huge room for Khanh Hoa to expand cooperation with Chinese firms: official

With its strategic importance in the central key economic region, well-developed and interconnected infrastructure, coupled with ample potential for tourism development, Khanh Hoa province is an ideal location for Chinese businesses to seek opportunities for cooperation and investment, Vice Minister of Foreign Affairs Pham Thanh Binh has said.

Products showcased at the Investment & Trade Promotion Centre of Ho Chi Minh City. (Photo: nhandan.vn)

Businesses must embrace new trends to boost exports to US: experts

Trade cooperation between Vietnam and the US presents both vast opportunities and significant challenges, as the latter enters a new phase with major adjustments to its economic and foreign policies, which are expected to have a wide-reaching impact on global trade and investment activities.

Vietnamese Ambassador to the UK Do Minh Hung (centre), embassy staff and VBUK members (Photo: VNA)

Vietnamese Business Association in UK sets 2025 agenda

The Vietnamese Business Association in the UK (VBUK) has announced plans to reshape the landscape of Vietnam-UK trade relations, focusing on driving business community forward, fostering its unity and strengthening connections with their Vietnamese partners both at home and abroad.