Vinh Thinh bridge crossing Hong River built with the RoK's ODA (Source: VNA)
Hanoi (VNA) – A policy dialogue on official development ༒assistance (ODA) between Vietnam and the Republic of Korea (RoK) was held in Hanoi on June 8.
Vietnam’s 2016-2020 socio-economic development plan, medium-term public investment plans, and several laws were introduced at the event, along with the RoK’s new regulations and policies on development cooperation and ODA.
Head of the Foreign Economic Relations Department under the Ministry of Planning and Investment, Le Quang Manh, said that financial cooperation will play a main role in development partnership between the two countries.
To have the most effective cooperation, Vietnam should take advantage of assistance from the RoK Government and the Korea International Cooperation Agency (KOICA) and attract their investment in the fields that the RoK is strongest and where Vietnam has demand; such as transport, health, environment and high technology, Manh suggested.
The country also needs to be proactive in making proposals for projects that are in conformity with its medium- and long-term and annual development plans and policies.
Lee Sang Kyu, a representative from the KoK Ministry of Strategy and Finance, stated that the RoK Government treasures and attaches importance to its development cooperation with Vietnam, as the country is an important partner. Priority will be given to transport and urban infrastructure, education, health, environment, clean energy and information technology.
Currently, the government is building a Country Partnership Strategy (CPS) with Vietnam to help the nation achieve its goals on transport infrastructure, information technology, and human resources in its 2011-2020 socio-economic development strategy and 2016-2020 socio-economic development plan, he added.
The RoK Government signed lending agreements or committed to providing credit for nearly 60 projects worth 2.8 billion USD in Vietnam from 1992 to 2015.
At present, the country is running 34 ODA-funded projects in Vietnam with a total registered capital of 1.7 billion USD, of which 0.9 billion USD has been disbursed.
The two nations are preparing for negotiations on a framework credit agreement for 2016-2020. The RoK plans to provide ODA loans worth 1.5 billion USD for Vietnam during the period, with the focus on large-scale infrastructure, railways, health and information technology.-VNA
Vietnamese experts thanked their partners from the Republic of Korea (RoK) for their support of Vietnam's Green Growth Strategy (VGGS) implementation, which was under review at a conference in Hanoi.
Vietnam's transport ministry and the Korea International Cooperation Agency (KOICA) have agreed to study the feasibility of a 500 km-long railway link from Laos' Vientiane to Vung Ang in Ha Tinh.
The Government will continue issuing instructions for projects using official development assistance (ODA) to ensure their capital disbursement meets the deadline, said a Government official.
Total official development assistance (ODA) and concessional loans committed for Vietnam was over 2.56 billion USD in the first half of 2016, surging by 61 percent year on year.
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This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Vinh Thinh bridge crossing Hong River built with the RoK's ODA (Source: VNA)
