Vietnam needs to change its policies on official development assistance(ODA) attraction and use in order to better attract this source ofcapital in the future.
In a recent interviewgranted to the Vietnam News Agency, Deputy Minister of Planning andInvestment Nguyen Chi Dung said that as Vietnam is a middle-incomecountry, development partners will gradually cut down ODA and increaselending conditions for the country.
Therefore,between now and 2018, Vietnam should quickly disburse its remaining ODAsources for development while focusing on removing all difficulties andshortcomings in implementing ODA projects, he said.
“We also need to well prepare for the next stage when we will receive less preferential ODA,” he noted.
It is necessary to renew lists of projects to make them suitable tonew ODA sources as well as closely control the disbursement to ensurethe effective use of this capital, he said, adding Vietnam should bothensure the transparency and feasibility of projects and meet donors’requirements.
“It’s time for the country to come tothe negotiating table with donors to discuss the best ways to lure anduse the new source of capital,” Dung stressed.
According to the Deputy Minister, over the past time, his ministry hasclosely coordinated with donors in reviewing the implementation ofprojects and programmes as well as restructuring those making slowprogress.
The ministry has also instructed agenciesat all levels to inspect investment areas in order to avoid losses,waste and other negative phenomena in the use of State investment,including ODA and preferential loans from donors.-VNA
In a recent interviewgranted to the Vietnam News Agency, Deputy Minister of Planning andInvestment Nguyen Chi Dung said that as Vietnam is a middle-incomecountry, development partners will gradually cut down ODA and increaselending conditions for the country.
Therefore,between now and 2018, Vietnam should quickly disburse its remaining ODAsources for development while focusing on removing all difficulties andshortcomings in implementing ODA projects, he said.
“We also need to well prepare for the next stage when we will receive less preferential ODA,” he noted.
It is necessary to renew lists of projects to make them suitable tonew ODA sources as well as closely control the disbursement to ensurethe effective use of this capital, he said, adding Vietnam should bothensure the transparency and feasibility of projects and meet donors’requirements.
“It’s time for the country to come tothe negotiating table with donors to discuss the best ways to lure anduse the new source of capital,” Dung stressed.
According to the Deputy Minister, over the past time, his ministry hasclosely coordinated with donors in reviewing the implementation ofprojects and programmes as well as restructuring those making slowprogress.
The ministry has also instructed agenciesat all levels to inspect investment areas in order to avoid losses,waste and other negative phenomena in the use of State investment,including ODA and preferential loans from donors.-VNA
