Update news ODA

Despite high public debt, Vietnam continues to borrow millions for development needs

Vietnam has borrowed $4-5 billion a year in the last 10 years, and the public debt has nearly hit the ceiling. However, the country will continue borrowing because it needs capital for development and investment.

The heavy price Vietnam has to pay for Chinese ODA

VietNamNet Bridge - Vietnam understands the potential risks behind Chinese ODA (official development assistance) and Chinese technologies, but it still needs Chinese capital.

VEC sets record in number of costly highways

VietNamNet Bridge - The Vietnam Express Corporation (VEC), the biggest road and highway investor, has set a record in the number of highways with very high costs.

The strategic moves of Chinese-speaking economies - Why Vietnam?

VietNamNet Bridge - Will the increasingly high investments by mainland China, Taiwan, Hong Kong and Macau bring opportunities or challenges?

Vietnam needs to keep watchful eye on China-founded AIIB: economists

VietNamNet Bridge - Vietnam still has not provided an answer to the question on whether to join AIIB. Meanwhile, economists have called on the government to think carefully before making a decision. 

Tien Sa Port developer turns down Official Development Assistance

Infrastructure developers prefer seeking capital from domestic and foreign commercial loans than official development assistance (ODA), which is in the long run more expensive than people think.

Funds for Vietnam’s development are critical

VietNamNet Bridge – The funds for investment and economic development are approaching critical levels, analysts say.

Half of remittances channeled into business operations

 VietNamNet Bridge – Incoming remittances last year stood at around US$12 billion with 46% of it going to production and business operations, nearly 36% to expenses and the remainder to savings and health services,

What are the effects of overseas remittances on the Vietnamese economy?

If Vietnam uses overseas remittances to its benefit, they could be a powerful driver in the development of the national economy. Conversely, the economy could be put under pressure if they are not deployed effectively.

Vietnam insecure about Chinese contractors

VietNamNet Bridge – Seven construction incidents executed by Chinese contractors within a short period of time have raised major concerns.

Will seaports be salable?

VietNamNet Bridge – Foreign investors are only eyeing large important seaports in Vietnam and are staying away from unprofitable seaports.

Land price hike a financial burden on Long Thanh airport investors

Estimates for site clearance for the proposed Long Thanh airport project are VND20.7 trillion, but analysts believe the costs would be even higher as land prices in the area have been increasing rapidly.

HCM City keen to boost ties with US

NA Chairman meets with Danish Ambassador; President Sang praises police force, People's Court for upholding law; President urges Supreme People’s Court’s better judgment quality

Transport leads ODA disbursement

 VietNamNet Bridge – Sizable transport infrastructure projects in Vietnam have been doing sterling work in terms of official development assistance fund disbursement in the year to date.

Vietnam’s public debt is still within sustainable threshold

VietNamNet Bridge – Many questions have recently surfaced over a lot of macroeconomic issues in Vietnam, especially the use of official development assistance, the country’s rising public debt, and institutional changes among others.

New funding sources needed: Minister

 Transport Minister Dinh La Thang yesterday said growing infrastructure demand in the country needs new funding sources other than the State Budget and overseas development assistance.

French firm denies $2bn commitment to Long Thanh airport claimed by Vietnam official

A French company specializing in airport architecture and engineering has said it did not commit to providing US$2 billionfor a megaproject to build a new international airport outside of Ho Chi Minh City.

Vietnam reaps notable success at ASEM 10

Deputy Foreign Minister Bui Thanh Son granted a media interview about the outcomes of the 10th Asia-Europe Meeting (ASEM 10) and Prime Minister Nguyen Tan Dung’s trip to Belgium, Germany and the Vatican.

US Treasury Secretary calls for increased ODA for Vietnam

 The US should increase Official Development Assistance (ODA) to Vietnam and step up other financial support in the form of preferential loans and humanitarian and development assistance.

Political News 15/9

 VN, Australia vow more co-operation; PM praises former Japanese leader; S Korean air chief visits; NA chairman off to Laos