Hanoi (VNA) – Officials from the finance ministries of Vietnam and Laos met in Hanoi on June 30 to exchange experiences in mobilising, managing and using official development assistance (ODA) and concessional foreign loans.
The meeting brought together representatives of the Department of Debt Management and External Economic Relations under the Vietnamese Ministry of Finance and the Department of International Finance and Cooperation under the Lao Ministry of Finance, according to the Vietnamese minsitry.
Speaking at the event, Deputy Director of the Department of Debt Management and External Economic Relations Nguyen Yen Hai said the exchange was part of a UNDP-supported project for the Lao side and also a step to implement cooperation commitments between the two finance ministries.
She said Vietnam is ready to share its experiences in mobilising, managing and using ODA and concessional loans, as well as lessons learned throughout its development process.
Hai noted that Vietnam has always considered setting development orientations as the basis for identifying financing needs, including ODA and concessional loans. She stressed that a sound legal and policy framework is essential to ensuring the efficient management and use of development finance.
Beyond infrastructure investment, she said, ODA has also played an important role in improving institutional frameworks, strengthening governance, developing human resources and enhancing the capacity of implementing agencies.
Leading the Lao delegation, Director of the Department of International Finance and Cooperation Vongkhamheng Vongthachack said their working visit aimed to study Vietnam's experiences in mobilising, managing and using ODA and concessional financing, while learning about the country's legal framework, management mechanisms and inter-agency coordination.
He said the Lao side was particularly interested in Vietnam's experiences following the recent restructuring of its administrative apparatus, especially changes in ODA management and coordination among government agencies.
The delegation sought to learn from Vietnam's transition from a major ODA recipient to a middle-income country. They also wanted to learn about experiences in developing cooperation frameworks with development partners, programme planning process and practical approaches to managing development assistance.
During the meeting, Vietnamese officials presented the country's expertise in mobilising, managing and using ODA and concessional loans, and answered questions from the Lao side on legal regulations, implementation mechanisms and policy adjustments made during different stages of development.
The two sides agreed to continue regular professional exchanges and experience sharing to further strengthen cooperation between the two finance ministries./.
