Disbursing ODA: mission for remaining months of 2020

The prime minister has highlighted disbursing official development assistance (ODA) as the main mission of ministries and localities in the final months of this year.

Disbursing ODA: mission for remaining months of 2020
Disbursing ODA is a major task for Vietnamese ministries this year.

This was announced by Prime Minister Nguyen Xuan Phuc at the webinar attended by ministries and localities to review the ODA disbursement scheme. It was the third conference organised in the past three months to check the disbursement process and discuss difficulties in this process.

According to the report published by the Ministry of Planning and Investment, as of October 31, VND18.09 trillion ($786.52 million) of ODA capital was disbursed, equaling 30.15 per cent of the initial expectation. Ministries and central agencies succeeded in disbursing VND5.82 trillion ($253.04 million) in ODA, while the figure from local agencies was VND12.25 trillion ($532.6 million).

According to Minister of Planning and Investment Nguyen Chi Dung, there are numerous barriers in implementing projects using ODA, including the impact of the COVID-19 pandemic. Notably, these projects related to foreign factors or international flights, thus the pandemic prevented machinery imports, entry by foreign experts, as well as organising auctions for foreign contractors.

Besides, Vo Van Hoan, Deputy Chairman of Ho Chi Minh City People’s Committee said that the barriers for ODA disbursement at Metro Lines 1 and 2 are due to the large VND/JPY exchange rate variations.

“The citydivided VND5 trillion ($217.39 million) of ODA for six projects in the city, however, as of October 23, 30 per cent of which was disbursed, 10.8 per cent lower than the initial expectation. VND2.5 trillion ($108.69 million) of the above ODA is allocated for Metro Line 1 and 2, however, no funds have been disbursed for these two projects,” Hoan said.

Can Tho is the locality having the lowest disbursement ratio. According to Le Quang Manh, Secretary of Can Tho Party Committee said that the greatest difficulties in disbursing ODA are land clearance, resettlement, and the weak capacity of contractors.

 

Another reason is the impact of storms and flood in the central region.

According to the prime minister, the remaining VND41 trillion ($1.78 billion) capital is waiting to be disbursed by the end of this year. Thus, ministries and localities need to focus on dealing with existing difficulties and barriers.

Notably, ministries will have to continue to complete the legal framework. The Ministry of Planning and Investment and the Ministry of Finance will co-operate with each other to clarify the disbursement scheme and then build a 5-year disbursement plan. VIR

Ha Vy

Having money but not spending is unacceptable: PM

Having money but not spending is unacceptable: PM

The disbursement of public investment from the state budget has reached 60 percent, the highest ever level. The disbursement of ODA has also improved, but is still low.

Hanoi struggles to speed up public investment disbursement

Hanoi struggles to speed up public investment disbursement

Problems remain in the implementation of Hanoi’s middle-term public investment plan for the 2016 to 2020 period, vice chairwoman of the city’s People’s Council Phung Thi Hong Ha said on Tuesday.

 
 

Other News

.
Plans afoot to push production ahead
Plans afoot to push production ahead
BUSINESSicon  08/09/2021 

Domestic production has been hit hard this year, with numerous enterprises facing greater woes and leaving the market. However, the situation could be eased by a new special taskforce established by the prime minister.

Jan-Aug period sees 24 wind power plants commissioned
Jan-Aug period sees 24 wind power plants commissioned
BUSINESSicon  08/09/2021 

Twenty-four wind power plants with a combined capacity of 963 MW began commercial operations in the year to August, according to the Vietnam Electricity Group (EVN).

Local auto industry needs support amid pandemic
Local auto industry needs support amid pandemic
BUSINESSicon  08/09/2021 

Domestic automobile manufacturers have urged the Ministry of Finance to revise criteria for production capacity so as to enjoy a preferential tax incentive policy for imported automobile parts.

Export outlook depends on virus control
Export outlook depends on virus control
BUSINESSicon  08/09/2021 

Vietnam's exports may reach as high as US$313 billion by the end of 2021, a 10.7 per cent increase year-on-year, only if the country manages to stop the spread of the novel coronavirus, according to a report by the Ministry of Industry and Trade. 

VIETNAM BUSINESS NEWS SEPTEMBER 8
VIETNAM BUSINESS NEWS SEPTEMBER 8
BUSINESSicon  08/09/2021 

Deputy PM heads State Steering Committee for Key Petroleum Projects

Authority warns about consumer lending amid pandemic
Authority warns about consumer lending amid pandemic
BUSINESSicon  08/09/2021 

The Ministry of Industry and Trade’s Department of Competition and Consumer Protection has recently warned consumers about signing consumer loan contracts.

Vietnamese may be allowed to bet on foreign football leagues
Vietnamese may be allowed to bet on foreign football leagues
BUSINESSicon  08/09/2021 

Vietnamese people will be able to legally bet on many foreign football leagues if a draft decree on football betting is passed.

State Securities Commission punishes violators for share price manipulation
State Securities Commission punishes violators for share price manipulation
BUSINESSicon  08/09/2021 

The State Securities Commission (SSC) has issued a notice on sanctions on two individuals for manipulating the price of FTM shares of the Duc Quan Investment and Development Joint Stock Company. 

Instant noodles recalled in Europe, manufacturers told to be cautious about use of ethylene oxide
Instant noodles recalled in Europe, manufacturers told to be cautious about use of ethylene oxide
BUSINESSicon  08/09/2021 

Vietnam does not have regulations about the use of ethylene oxide (EO) in agriculture production or limits on EO residue in food.

VN businesses need new measures for long-term fight against pandemic
VN businesses need new measures for long-term fight against pandemic
FEATUREicon  08/09/2021 

Businesses are bearing severe impacts from Covid-19 developments and social distancing campaigns.

Vietnam Chamber of Commerce and Industry has new Chairman
Vietnam Chamber of Commerce and Industry has new Chairman
BUSINESSicon  08/09/2021 

Pham Tan Cong was elected as Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) for the term 2021-2026 at the 14th meeting of the Executive Committee of the VCCI on September 8, replacing Vu Tien Loc.

Overseas Vietnamese firms are suppliers of Vietnamese goods to foreign markets
Overseas Vietnamese firms are suppliers of Vietnamese goods to foreign markets
BUSINESSicon  07/09/2021 

The overseas Vietnamese business community is an important distribution channel to bring Vietnamese goods to the world market, said Minister of Industry and Trade Nguyen Hong Dien.

Welcoming the 'upgraded' CAEXPO
Welcoming the 'upgraded' CAEXPO
BUSINESSicon  07/09/2021 

The 18th China-ASEAN Expo (CAEXPO) will kick off in Nanning, China as scheduled, and here comes the "CAEXPO Moment" again.

Bank stocks decline sharply during pandemic
Bank stocks decline sharply during pandemic
BUSINESSicon  07/09/2021 

Banking stocks have continuously corrected since the beginning of July, with market analysts forecasting the decline in bank asset quality as due to the COVID-19 pandemic.

VIETNAM BUSINESS NEWS SEPTEMBER 7
VIETNAM BUSINESS NEWS SEPTEMBER 7
BUSINESSicon  07/09/2021 

Market extends rally after long holiday on pillar stocks

Deposit interest rates fall, deposits drop to 10-year low
Deposit interest rates fall, deposits drop to 10-year low
BUSINESSicon  06/09/2021 

Commercial banks continued easing deposit interest rates in late August, causing deposits at banks to fall to a 10-year low.

45-day social distancing has hurt Hanoi's economy but public health has been protected
45-day social distancing has hurt Hanoi's economy but public health has been protected
FEATUREicon  07/09/2021 

Hanoi’s economy has suffered heavily from social distancing and travel restrictions over the last 45 days, but in exchange the Covid-19 outbreak has been under control.

All-round report on Vietnam’s startup ecosystem to be unveiled
All-round report on Vietnam’s startup ecosystem to be unveiled
BUSINESSicon  06/09/2021 

The Vietnam Open Innovation Landscape Report 2021, the most comprehensive and up-to-date overview of the local startup and innovation ecosystem so far, is set to be released in December.

Vietnam's steel sales increase due to exports
Vietnam's steel sales increase due to exports
BUSINESSicon  06/09/2021 

Steel enterprises have boosted exports while facing difficulties in domestic consumption due to the COVID-19 outbreak, according to the Vietnam Steel Association (VSA).

Pro-competitive policies in logistics sector can help Vietnam recover from the pandemic
Pro-competitive policies in logistics sector can help Vietnam recover from the pandemic
BUSINESSicon  06/09/2021 

Pro-competitive policies can help Vietnam continue its progress in logistics sector and help the country recover quickly from the impacts of the pandemic, the Organisation of Economic Co-operation and Development said in its two latest reports.

 
 
 
Leave your comment on an article

OR QUICK LOGIN