WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Construction
Vietnam accelerates implementation of four major ODA transportation projects
Ngoc Thuy 16:27, 2020/11/03
The disbursed amount of official development assistance (ODA) funds in Vietnam in the first nine months of 2020 stood at only VND26 trillion (US$1.12 billion), equivalent to 32.43% of the year’s estimate.

The Transport Engineering Construction and Quality Management Bureau under the Ministry of Transport (MoT) is finalizing procedures for the construction of four major transportation projects financed with official development assistance (ODA).

 Vietnam is pushing for the construction of four major ODA transportation projects. Photo: Tran Dung. 

The first project is the Northern Mountain Province Transport Connectivity Project with investment capital of VND5.34 trillion (US$230.73 million), funded by the Asian Development Bank (ADB) and counterpart fund from the Vietnamese government.

In early November, Project Management Unit No.2 is set to submit to the MoT technical design for two priority civil works for approval and kicking off the construction in the earliest time possible. For remaining works, the MoT would continue to review their respective technical designs in December and target commencing the construction in the first quarter of 2021, aiming to complete by 2024.

The second project is the Central Highlands Connectivity Improvement Project with investment capital of VND3.65 trillion (US$157.77 million), which is financed by the World Bank and Vietnam’s counterpart fund.

To date, the authority has approved the technical design and is in the process of reviewing the estimated cost for two priority civil works. The project is scheduled to start construction this December and completed by 2023.

The third project is the road connecting National Highway No.91 and Long Xuyen City Bypass with investment capital of VND2.1 trillion (US$90.76 million) from ADB’s fund.

The project is under the process of consultant selection for setting up technical design. The MoT targets the construction to start in the third quarter of 2021 and complete by 2023.

The final one is the construction of Day – Ninh Co Junction Canal under the Northern Delta Transport Development Project (US$107.2 million) with fund from the World Bank.

The project is set to commence in November 2020, and complete by 2022.

Slow disbursement of ODA funds

In a recent government meeting, Prime Minister Nguyen Xuan Phuc urged government agencies and provinces/cities to accelerate the disbursement of VND41 trillion (US$1.77 billion) in ODA funds, or 70% of the target for this year, in the remaining two months of the year.

The Vietnam PM said ODA is an important source for economic development, especially as the country is in need of investment capital for socio-economic development.

Mr. Phuc requested leaders of provinces/cities and government agencies to take greater responsibility in ensuring the full disbursement of public funds in the coming months, saying those with poor competence or responsibility in this task would be replaced.

Mr. Phuc expected government agencies to simplify the administrative procedures in the approval process of investment projects, while the Ministry of Planning and Investment is tasked with reporting to the Prime Minister on a monthly basis on the transferring of ODA funds from projects with slow disbursement progress to those with faster pace.

RELATED NEWS
TAG: Vietnam ODA infrastructure projects transportation ministry of transport covid-19 connectivity
Other news
18:44, 2024/07/13
New Housing Law to lift legal barriers to renovating old apartments in Hanoi
The 2023 Housing Law introduces several important changes to address these issues.
13:50, 2024/07/11
Long-term solutions needed for organizing Hanoi’s rural architectural spaces
Traditional rural architectural treasures like stilt dwellings and communal houses are being commercialized and relocated to urban areas, undermining their original cultural and architectural integrity.
14:19, 2024/07/09
Amended Capital Law to help Hanoi realize Red River zoning plan
It is critical to put available riverbank land to good use in order to enhance landscape, cultural, economic, and tourism values while ensuring flood and disaster prevention.
20:06, 2024/06/27
Vietnam’s strategic infrastructure development projects attract Chinese investors
China actively prioritizes infrastructure development and promotes global transportation cooperation, considering Vietnam as a crucial partner.
15:07, 2024/06/27
PM calls for Vietnam-China cooperation on major projects
Both sides are expected to accelerate the connectivity of transportation infrastructure, particularly in railways, roads, and border crossings, under the frameworks of "Two Corridors, One Belt" and "Belt and Road Initiative."
11:31, 2024/06/26
Vietnam seeks China’s expertise for major railway projects
Vietnam expects to cooperate with China in personnel training, management, control, and design of railway projects.