Overview of the meeting on 09/12 – Photo: VGP
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On September 12, at the Government Headquarters, Deputy Prime Minister Bui Thanh Son, Head of the National Steering Committee for ODA and Preferential Loans, chaired a meeting with development partners, emphasizing the need for close coordination to address obstacles, accelerate progress, and enhance the effectiveness of foreign capital utilization.
The meeting was attended by leaders of ministries and sectors that are members of the National Steering Committee for ODA and Preferential Loans; representatives from six development banks: the World Bank (WB), the Asian Development Bank (ADB), the Japan International Cooperation Agency (JICA), the Export-Import Bank of Korea (KEXIM), the French Development Agency (AFD), and the German Reconstruction Bank (KfW); and delegates from the embassies of Japan, South Korea, Australia, the European Union, and the United Nations in Vietnam.
Based on the above orientations, the Deputy Prime Minister assigned the Ministry of Finance to periodically organize inter-sectoral delegations to work directly with development partners, from project identification to implementation, to promptly address difficulties or report to competent authorities. He also requested the partners to continue supporting Vietnam in capacity building and coordinating to harmonize procedures, from document requirements, capital commitments to internal processes, thereby shortening the time for project preparation and implementation.
In the context of Vietnam implementing a two-level government model and promoting decentralization to local governments, the Deputy Prime Minister requested the donors to consider providing non-refundable aid to enhance the capacity of local governments in managing and utilizing ODA. Central ministries and sectors were also urged to strengthen guidance and training to ensure smoothness in implementation.
According to the Ministry of Finance, in the period of 2021-2025, Vietnam mobilized an average of USD 800 million to USD 1 billion in ODA and preferential loans each year, except for 2022, which was affected by the COVID-19 pandemic. In the first eight months of 2025 alone, the mobilized capital reached nearly USD 450 million, and it is expected to add approximately another USD 370 million by the end of the year.
However, the disbursement rate remains low compared to the plan. In the period of 2021-2024, the total disbursement reached VND 66,528 billion, equivalent to only 22% of the initial public investment plan and 44.9% compared to the adjusted plan. In the first eight months of 2025, the disbursement figure was only VND 3,592.68 billion, or 15.34% of the assigned plan. Meanwhile, the foreign capital demand for large-scale infrastructure projects in the period of 2025-2027 is expected to exceed VND 2.2 million billion.
To address these issues, Vietnam has undertaken several legal reforms: eliminating the Prime Minister’s approval stage for project proposals, replacing it with simplified loan proposals; decentralizing investment decision-making authority; simplifying procedures for non-refundable aid and capital adjustments; allowing independent disbursement of grants and loans; granting the government authority in applying donors’ bidding regulations; and permitting advance bidding before loan agreements are signed.
The Government recently issued Decree No. 242/2025/ND-CP, replacing previous decrees, providing a legal framework for state-owned enterprises to access ODA, simplifying procedures for non-refundable aid, and incorporating new elements from the amended Public Investment Law in 2024. Since March 1, 2025, the Ministry of Finance has become the sole management agency for ODA and preferential loans following its merger with the Ministry of Planning and Investment.
In the field of public debt, the Ministry of Finance is finalizing the draft Law amending and supplementing the Law on Public Debt Management, aiming to expand access to ODA for public non-business units, state-owned enterprises, and their subsidiaries. Simultaneously, the Ministry is also implementing Resolution No. 190/2025/QH15 and Decision No. 1655/QD-TTg to ensure continuity after the reorganization of ministries, sectors, and localities.
In parallel, the Ministry of Finance has sent official dispatches to local authorities, requesting them to promptly stabilize the apparatus of ODA Project Management Units, complete legal procedures, update accounts, and sign loan subsidiary contract appendices to prevent disruptions in disbursement. Regarding the lending rate applied after the merger, the Ministry has issued a specific announcement effective from July 1, 2025, applicable to the current fiscal year.
Representatives of development partners highly appreciated Vietnam’s reform efforts, especially in improving the legal framework and promoting open and receptive dialogue. The partners affirmed their readiness to continue accompanying and supporting Vietnam in its development journey.
– 20:58 09/12/2025
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