Hanoi expected to realize disbursement target of ODA funds in 2020
Hanoi has set up six task force teams specialized in accelerating disbursement of public funds.
As of October 28, Hanoi has disbursed VND1.81 trillion (US$78.2 million) of the official development assistance (ODA) fund, or 51.97% of the target and targets to realize the full amount allocated for this year, according to Vice Chairman of the Hanoi People’s Committee Nguyen Doan Toan.
|Overview of the online conference from Hanoi People's Committee.|
In 2020, the government allocated VND5.23 trillion (US$226 million) for nine ODA projects in Hanoi, for which the city’s leaders have instructed local authorities to work on measures to avoid any disruption to ODA-funded projects despite severe impacts of the Covid-19 pandemic, stated Mr. Toan at an online government meeting on October 29.
Among measures to speed up the disbursement of ODA funds, the municipal People’s Committee urged related departments and units to complete investment procedures for kicking off new projects, as well as pushing for speedier site clearance, Mr. Toan continued.
Additionally, Hanoi’s leaders have been active in addressing concerns of contractors related to project implementation right in early 2020, he noted.
On September 30, the Hanoi People’s Committee issued decision No.4402/QD-UBND on the establishment of six task force teams specialized in accelerating disbursement of public funds.
According to Mr. Toan, these teams have basically resolved all issues related to the construction process, except for the Urban railway project No.2, section Nam Thang Long – Tran Hung Dao, which has a problem related to the adjustment of investment capital; and the planning of the subway Station C9 near Hoan Kiem lake.
In the coming time, Mr. Toan suggested the central government continue supporting the city in attracting ODA funds for infrastructure development, especially in transportation to help boost connectivity with other provinces and cities; water supply and waste water treatment projects; and urban railway projects.
|Prime Minister Nguyen Xuan Phuc at the meeting. Source: VGP.|
Disbursement of public funds remains key priority
At the meeting, Prime Minister Nguyen Xuan Phuc said the challenges remains huge as nearly VND41 trillion (US$1.77 billion) in ODA funds, or 70% of the total, needs to be fully disbursed in the remaining two months of the year.
Mr. Phuc urged all localities and government agencies to continue pushing for speedier disbursement of public funds, which stood at 60% in the first nine months of the year.
The Vietnam PM said ODA is an important source for economic development, especially as the country is in need of investment capital for socio-economic development.
Mr. Phuc requested leaders of provinces/cities and government agencies to take greater responsibility in ensuring the full disbursement of public funds in the coming months, saying those with poor competence or responsibility in this task would be replaced.
Mr. Phuc expected government agencies to simplify the administrative procedures in the approval process of investment projects, while the Ministry of Planning and Investment is tasked with reporting to the Prime Minister on a monthly basis on the transferring of ODA funds from projects with slow disbursement progress to those with faster pace.
- Partnership promotes energy efficiency in commercial buildings in Vietnam
- ODA disbursement hits 19% of target in Jan-Sep
- Materializing Red River subdivision planning to attract investment
- Vietnam to raise capital expenditure to U$22.7 billion in 2022
- Disbursement of public funds reaches over 50% in 8-month period
- Vietnamese construction firms awarded contract to build My Thuan 2 Bridge
- Public investment reaches 43% target in Jan-July
- Danang calls on businesses for airport planning, Lien Chieu Port subdivisions
- Finance ministry proposes up to 10% tax cut for imported steels
- Maintenance funds in many Hanoi apartments remain stuck
ASEAN+3 countries to prioritize Covid-19 response and recovery plan
EVFTA provides platforms for businesses to navigate Covid-19 impacts
Vietnam's child coronavirus vaccination drive kicks off in HCMC
Vietnam postpones 31st SEA Games to May 2022
Vietnam in need of national strategy for veggie exports to EU
Vietnam donates Laos US$2 million for pandemic fight
Mao Bookstore - the oldest bookstore in Dinh Le Street
Vietnam’s biggest Covid-19 makeshift hospital to be closed
UN Security Council holds emergency meeting over North Korea