Deputy PM, FM Pham Binh Minh hosts receptions for UN Resident Coordinator in Viet Nam Kamal Malhotra, World Bank Country Director for Viet Nam Ousmane Dione and Dutch Ambassador to Viet Nam Elsbeth Akkerman, Ha Noi, on July 10, 2019- Photo: VGP

At the meeting, Deputy PM Minh expressed thanks to the support and assistance of sponsors for Viet Nam as the capital provided by sponsors has played a crucial role in the nation’s economic development and social advance.

Viet Nam expects sponsors to continue supporting and diversifying the access of foreign capital resources in line with prioritized orientations of the Vietnamese Government and interests of sponsors, he added.

He spoke highly of recommendations and proposals of sponsor group, asserting that the Vietnamese Government acknowledged the status of disbursement of public investment capital and foreign loans to take specific steps for accelerating the rate of progress of disbursement.

The Government has issued a number of regulations to improve the effectiveness of attracting and deploying foreign loans, he said, adding that in the future, the Government will continue simplifying procedures on receiving ODA and preferential loans.

He hoped to join hands with sponsors to build a decree to create a favorable legal framework in disbursement of the ODA.

The Ministry of Planning and Investment directly worked with relevant ministries and agencies to review, classify and make a list of long-delayed projects and the Deputy PM held a direct dialogue with representatives of six sponsors in Ha Noi to reach measures to boost the rate of progress and improve the effectiveness of ODA capital in the time ahead.

The occasion, Minh suggested Viet Nam coordinate with sponsors to harmonize procedures between the recipient (Viet Nam) and sponsors, including regulations on disbursement based on set plan (to Vietnamese side) and disbursement based on rate of progress (the sponsor side) to ensure good control of public debt.

Ousmane Dione referred to slowdown in signing and receiving non-refundable aid, including natural calamity relief, even an aid lasting for three years.

The Deputy PM affirmed to inspect the case and ask ministries and agencies to make report and prevent the similar situation from recurring. VGP