Solutions to resolve difficulties and obstacles and promote World Bank-funded projects in Vietnam

Solutions to resolve difficulties and obstacles and promote World Bank-funded projects in Vietnam (Internet image) 

Regarding this matter, LawNet would like to answer as follows:

On March 26, 2024, the Government Office issued Official Dispatch 1973/VPCP-QHQT on cooperation and solutions to resolve difficulties, obstacles, and promote World Bank-funded projects.

Solutions to resolve difficulties and obstacles and promote World Bank-funded projects in Vietnam

Solutions to resolve difficulties and obstacles and promote World Bank-funded projects in Vietnam are as follows:

- Regarding projects that have been completed or are in the process of negotiating loan agreements:

+ The Ministry of Finance will lead and coordinate with the Ministry of Justice, Ministry of Foreign Affairs to urgently carry out the procedures for approval, negotiation, and signing of loan agreements with the World Bank.

- Regarding projects that have completed the investment procedures but the World Bank does not have a negotiating stance for the loan agreement:

+ The Ministry of Planning and Investment will take the lead and coordinate with relevant ministries, agencies, and localities to review and send an official letter to the World Bank requesting their formal opinion for consideration and decision by the Prime Minister.

- Regarding projects whose investment decisions have been approved : 

+ The ministries and localities will urgently complete the investment procedures according to regulations and coordinate with the Ministry of Finance to review and carry out the procedures for the negotiation of loan agreements.

+ The Ministry of Planning and Investment, the Ministry of Finance, the Ministry of Construction, the Ministry of Natural Resources and Environment, and other relevant agencies will be responsible for resolving issues within their jurisdiction, ensuring deadlines, and not affecting the overall progress of the projects.

- Regarding projects whose proposals have been approved:

+ The Ministry of Planning and Investment will take the lead and coordinate with the Ministry of Finance and the World Bank to review with the managing agencies, evaluate the capacity and progress of the domestic procedures of the projects. In the event that the requirements cannot be met, a report will be submitted to the Prime Minister to allow the discontinuation of the proposal for World Bank loans and seek appropriate alternative sponsors.

+ The Ministry of Planning and Investment, the Ministry of Finance, the Ministry of Construction, the Ministry of Natural Resources and Environment, and other relevant agencies will be responsible for resolving issues within their jurisdiction, ensuring deadlines, and not affecting the overall progress of the projects.

- Regarding projects undergoing the procedures for approving project proposals:

+ The relevant agencies will provide timely opinions on the project proposals.

+ The Ministry of Finance will urgently report to the Prime Minister on the determination of preferential elements, financial mechanisms, and evaluation of public debt impact as regulated.

+ The Ministry of Planning and Investment will lead and coordinate with the Ministry of Finance and other relevant agencies and project management agencies to review and evaluate the content of the project proposals, submit them to the Prime Minister as required.

The State Bank of Vietnam, as the representative agency of the State and the Government of Vietnam at the World Bank, will continue to lead and coordinate with the Ministry of Planning and Investment, the Ministry of Finance, and other relevant ministries and agencies to actively monitor, update, and promptly report major and important issues arising in the relationship with the World Bank.

More details can be found in Official Dispatch 1973/VPCP-QHQT issued on March 26, 2024.

Nguyen Ngoc Que Anh

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