Ministry proposes to cut down $98 million foreign capital

The Ministry of Planning and Investment has proposed the Government to cut down over VND2,233 billion (US$98 million) in foreign capital disbursement plan in 2017 for five ministries and 14 localities because of unaffordability.

Many ODA funded projects have run behind schedule

Many ODA funded projects have run behind schedule

In a report sent to the Government Office and the Prime Minister recently, the ministry said that the slow disbursement of public investment capital, including budget funds and Vietnam’s loans from foreign organizations, has caused the country loss many opportunities and showed weaknesses in loan management and use.
The five ministries and central agencies include the Ministry of Culture, Sports and Tourism, Vietnam Academy of Science and Technology, Vietnam Electricity, the Ministry of Health and the Ministry of Labor, Invalids and Social Affairs. The 14 provinces comprise Dien Bien, Yen Bai, Lao Cai, Hanoi, Vinh Phuc, Ninh Binh, Ha Tinh, Quang Tri, Hue, Phu Yen, Ba Ria-Vung Tau, An Giang, Tra Vinh and Ca Mau.
According to data synthesized by the ministry, five ministries and 31 provinces are in need of supplementing VND5,863 billion in foreign capital plan in 2017.

By ANH PHUONG – Translated by Hai Mien

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