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Friday, November 24, 2017

Symposium seeks measures to improve ODA utilization

Updated: 11:45’ - 10/08/2015
Vietnam’s achievements in socio-economic development over the past three decades of doi moi (renewal) owed much to 20 years as a recipient of significant official development assistance (ODA), Deputy Prime Minister Vu Van Ninh said at an international symposium held in Da Nang on August 7 under the theme “Attracting and Utilizing ODA in Vietnam - A 20-year Review”.

However, he admitted that the country has demonstrated poor capacity of attracting ODA funds, and low disbursement and ineffective use of these funds.

“Vietnam has improved policies and mechanisms to increase the effectiveness of ODA, but administrative procedures remained complicated and unharmonious,” the Deputy Prime Minister said.

Inappropriate designs for a number of ODA projects, thinned-out allocation of ODA funds and ineffective use of ODA loans resulted in slow disbursement,” said Vuong Dinh Hue, Chairman of the Party Central Committee’s Commission for Economic Affairs.

Hue proposed adjusting policies to boost the effective use of ODA to check public debts as well as identify ODA project beneficiaries more properly.

Meanwhile, acting Country Portfolio & Operations Manager of the World Bank, Nguyen Duy Son, said “It’s very important that the Government decides what ODA loans will be used for. Positive designs and decisions from the Government, ministries and local authorities will help ensure success of ODA projects.”

Vietnam should intensify close cooperation with multilateral and bilateral partners in seeking loans, Son said, stressing that Vietnam should simplify administrative procedures for ODA-related activities.

He suggested the Government design ODA programs that fit its development goals and require cooperation between the Government and ODA donors.-
 

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