Minister calls on northern localities to use ODA selectively
Minister of Planning and Investment Nguyen Chi Dung urged localities on August 26 to not use Official Development Assistance (ODA) loans next year for projects where funding can be mobilised from the private sector or domestic sources.
Minister of Planning and Investment Nguyen Chi Dung (Photo: VNA)
Hanoi (VNA) - Minister of Planning and Investment Nguyen Chi Dung urgedlocalities on August 26 to not use Official Development Assistance (ODA) loansnext year for projects where funding can be mobilised from the private sectoror domestic sources.
Interestrates on ODA are relatively high, so funds must be used selectively on projectsthat are practical and vital to the development of localities, Dung told anonline conference on the formulation of socio-economic development and publicinvestment plans for the northern midlands and mountainous region and the RedRiver Delta in the next five years and 2021.
It aimedto address difficulties facing cities and provinces in the region in building2021-2025 plans for socio-economic development and public investment and in proposingsolutions and policies to fuel economic growth and disburse public investmentand other funding sources this year.
Theminister asked localities to continue promoting reforms with a strategic visionin a bid to formulate plans that best match their potential and advantages.
Localitiesmust also economically and effectively exploit resources, especially land, Dungsaid, adding that they need to exert tight control over modified publicinvestment projects to minimise revenue lost from the State budget and preventwaste.
They shouldalso prioritise major projects that create momentum and have a positive effecton local socio-economic growth.
Similarconferences will also be held for the central, central highlands, southern, andMekong Delta regions./.
Deputy Prime Minister Trinh Dinh Dung held a meeting with the Ministry of Agriculture and Rural Development (MARD) in Hanoi on August 19 to examine public investment disbursement in the agriculture sector.
Ho Chi Minh City had disbursed nearly 20.06 trillion VND (865.4 million USD) in public investment or 47.6 percent of the plan for the whole year as of the end of July, according to the municipal People’s Committee.
Relevant agencies need to take drastic and concerted actions and quickly remove barriers and difficulties to speed up the disbursement of public investment, Minister of Planning and Investment Nguyen Chi Dung has said.
Prime Minister Nguyen Xuan Phuc has requested that public investment capital be fully disbursed this year, viewing this as a key political task that requires the involvement of the entire political system.
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Minister of Planning and Investment Nguyen Chi Dung (Photo: VNA) 
