As usual, the World Bank (WB), Japan and the Asian Development Bank (ADB) remain the largest donors of Vietnam with impressive commitments. Specifically, the World Bank, Japan and ADB pledged 2 billion USD, 1.9 billion USD and 1.4 billion USD respectively in fiscal 2012.
Committed ODA resources will help Vietnam to supplement domestic resources to continue the sustainable economic development in the coming period, focusing on the restructuring of public investment, state enterprises and banking-financing reform as well as poverty reduction.
Minister of Planning and Investment Bui Quang Vinh. Photo: Duc Trung (MPI Portal)
According to the Minister of Planning and Investment Bui Quang Vinh, these results are extremely positive and important to the economy of Vietnam. The amount of committed capital this year is 400 million USD lower than that of last year. However, in the context of harsh world economy, public debt in Europe, the current global crisis, this source of aid plays great significance, said Minister Bui Quang Vinh.
Minister Bui Quang Vinh emphasized that the disbursement of ODA in Vietnam in 2010 reached 2,942 million USD and 3,200 million USD till the end of November 2011 and expected disbursement levels of ODA this year reached about 3,650 million U.S, 7% higher than in 2010.
To conclude the Meeting, Ms. Victoria Kwakwa appreciated the results achieved in this Meeting. The conference participants discussed, shared information and useful experience, and made commitments to continue supporting Vietnam. The sponsors said that the Government of Vietnam should implement continuously economic reforms, poverty reduction.
"It is time for Vietnam to grasp the opportunities to be more successful even in the context of the deteriorating global economy or the internal challenges of the economy. Now it is the time to act", said Victoria Kwakwa. Photo: Duc Trung (MPI Portal)
According to the World Bank and donor representatives, the conduct of a comprehensive economic stabilized program by implementing Resolution 11/NQ-CP yielded initial positive results. With the reform priorities in the period 2011-2015 including restructuring of public investment, state-run enterprises and financial sector, Vietnam has achieved important initial steps.
"It is time for Vietnam to grasp the opportunities to be more successful even in the context of the deteriorating global economy or the internal challenges of the economy. Now it is the time to act", said Victoria Kwakwa.
Minister of Planning and Investment Bui Quang Vinh expressed gratitude to valuable comments of development partners as well as financial support of the donor community for Vietnam in recent years. The Government of Vietnam continues to assert growth model renewal towards improving the economy’s competitiveness, focusing on green economic development going with the social security, poverty reduction.
Minister said that, entering the year 2012, the Government of Vietnam would determine to strengthen the program of economic restructuring and willing to receive the valuable mental and material contribution from the International donor community./.
Phuong Linh