Vietnam to mobilise development capital equal to 30% GDP
(VOV) - With its efforts in dealing with foreign debts and building financial and credit relations with foreign countries, in the 1993-2013 period foreign donors committed to provide Vietnam with US$78.19 billion in official development assistance (ODA).
The country has received US$58.36 billion and disbursed US$37.6 billion.
According to the Ministry of Finance, ODA garnering and using since 1993 have obtained positive results. ODA fund becomes an important source for investment in important sectors in the industrialisation and modernisation process, particularly in socio-economic infrastructure, agricultural and rural development and poverty reduction.
It has helped Vietnam successfully restructure its foreign debts and the State budget, and invest in socio-economic development.
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The ODA fund has been used in implementation of infrastructure projects such as electricity, transport, irrigation, water supply, agricultural and rural development, poverty reduction, healthcare development, education and training, capacity building, administrative reform, law, economic management and environment protection.
This year the Government aims to mobilise around VND1,345 trillion development capital, equal to around 30% of GDP, including VND275 trillion from foreign direct investment (FDI) and VND30 trillion from other sources.