Vietnam Deputy Minister Affirms Effective Use of ODA Funds
Vietnam is using official development assistance (ODA) sources from international donors in its socio-economic development, Deputy Minister of Planning and Investment Cao Viet Sinh said.
The Dau tu newspaper quoted Sinh as saying that the Vietnamese government is taking drastic measures in order to raise efficiency of using the ODA in its socio-economic development.
Vietnam is in dire of ODA for its development projects, especially for the five-year socio-economic plan and socio-economic strategy next ten years, Sinh added, highlighting the donors will continue providing aids for Vietnam.
However, he affirmed that Vietnam is gradually escape from countries with low income, thus the donors will change scale and structures of the funding for Vietnam and it should not expect more aids but should focus on using it more effectively.
“ODA can push the country’s public debts but all loans are long-term, we must take advantage of these loans to develop its economy as local capital is unlimited”, the official emphasized.
Vietnam disbursed US$9.81 billion in ODA between 2006 and 2009, making up 41% of total pledged ODA. The figure is forecast to reach US$12.96 billion by end-December this year.
At the CG Meeting held in Hanoi late last year, foreign donors pledged a record of US$8.063 billion in aid for the nation this year. (Investment)
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