Vietnam gov’t prioritizes allocation of state fund for ODA projects in 2021
The Hanoitimes - All projects financed by ODA or preferential loans from foreign donors are expected to have sufficient counterpart funds, especially those that are set to be completed in 2021.
The Vietnamese government gives priority to allocating sufficient state fund for projects financed with official development assistance (ODA) or preferential loans in 2021, according to the Ministry of Planning and Investment (MPI).
|Vietnam government would prioritize allocation of state fund for ODA projects in 2021.|
The move would help to speed up the completion of projects under the mid-term public investment plan for the 2016 – 2020 period that can be extended until 2025, stated the MPI’s document instructing government agencies and provinces and cities in allocating investment funds in 2021.
Additionally, the MPI expected all projects financed by ODA or preferential loans from foreign donors to have sufficient counterpart funds, especially projects that are set to be completed in 2021.
Only when sufficient funding for these projects is ensured, will new projects be launched, stated the MPI. The projects prioritized to be initiated are those that have completed all investment procedures, or are in line with the national strategy of digital transformation, digital economy, aiming to enhance productivity and efficiency of state management process.
Projects in the next line of priority are those in field of transportation to boost provincial connectivity and eventually socio-economic development, as well as those to serve public health, or against natural disasters, among others.
Amid the limited ODA funds and preferential loans, the MPI urged government agencies to tighten the supervision of investment portfolio using these types of financing.
The MPI requested provinces, cities and government agencies to step up efforts in disbursing state funds in 2021, and refrain from transferring funds between projects that could affect the mid-term investment plan for the 2021 – 2025 period.
Public investment is considered a key solution to boost economic growth amid the Covid-19 pandemic, for which the disbursed amount of public funds as of September 30 stood at VND269.2 trillion (US$11.64 billion) equivalent to 57.15% of the target set by Prime Minister Nguyen Xuan Phuc at VND471 trillion (US$20.38 billion).
- LG Electronics intends to sell off smartphone business to Vietnam's Vingroup
- Foxconn to make Macbook, Ipad in Vietnam
- Singapore’s investors seek investment opportunities in startups in Vietnam
- State-owned firms urged to preserve State capital in pandemic context
- Vietnam’s first hospital lists shares on HoSE
- Vietnam starts construction of My Thuan – Can Tho expressway
- Actual FDI in Vietnam down 2% to US$20 billion in 2020
- Business formations in Vietnam down 2.3% in 2020 amid Covid-19 pandemic
- Vietnam, Japan in favourable conditions to further investment, trade relations: Amb.
- Vietnam targets to have 5,000 kilometers of expressway by 2030
Vietnam records 82 new Covid-19 community infections
The 3rd Day of National Congress: Picking Central Party members
Hanoi people put high expectations on the 13th National Party Congress
Vietnam c.bank stands firm on keeping macro-economic stability
Agent Orange trial made headlines in France
Vietnam to launch secondary market for corporate bonds this year
13th National Party Congress sets vision for Vietnam development next 5 years: Int’l media
What do foreign media cover Vietnam’s top political meeting?
F0 investors learn hard lesson from stock market volatility