ODA disbursement slows down to a crawl

Hanoi plans to borrow $1.48 billion from official development assistance (ODA) funds to build a metro section in 2021.

Vietnam’s disbursement of official development assistance is yet to reach half of the amount planned for 2016-2020, says the Ministry of Finance.

South Korean banks desiring to enter Vietnam should acquire local lenders since new licenses are not in the offing, Deputy PM Vuong Dinh Hue said.

Many ODA projects required millions of dollars in additional capital, were bound by disadvantageous provisions, made excessive payments to foreign contractors.

The World Bank is concerned about Vietnam’s slow use of official development assistance and hopes to work with it to find a solution.

Japan is concerned about ‘serious’ delays in disbursement of funds for major official development assistance (ODA) projects in Vietnam.

A Ministry of Finance assessment of Japanese ODA projects contains inaccuracies, the Japan International Cooperation Agency claims.

Vietnam has said the Japanese insistence that its official development assistance (ODA) consultants should be paid $30,000 a month is unreasonably high. 

Chinese ODA costs more and the quality of work by Chinese contractors is not guaranteed, a ministry report says.

The deals were signed at a 'historic' business conference attended by record number of Vietnamese and Japanese businesses.

Hanoi and Saigon are in need of billions to keep up with economic growth.

Ministries are failing to spend the money that's been handed to them.

Loan repayments currently cost the country about $1 billion a year.