Vietnam: 03 bases for mobilizing ODA, preferential loans and foreign non-governmental aid

Currently, ODA stands for Official Development Assistance, which is a form of foreign investment known as 'Official Development Support'. These investments typically involve non-interest or low-interest loans with a long repayment period.

According to Decree No. 113/2014/ND-CP of Vietnam’s Government, agencies and organizations are encouraged to mobilize ODA, preferential loans of donors and foreign non-governmental aid in accordance with law.

Specifically, the mobilization of ODA, preferential loans of donors and foreign non-governmental aid in legal international cooperation shall be carried out on the following bases:

- Strategies on socio-economic development, strategies on building and improvement of the legal system, strategies on legal reform, and national strategies on public debts and foreign debts;

- Orientations for attraction and use of ODA, preferential loans of donors and orientations for mobilization of foreign non-governmental aid;

- Law on management and use of ODA, preferential loans of donors and foreign nongovernmental aid.

In the course of mobilizing ODA, preferential loans of donors and foreign nongovernmental aid in international legal cooperation, the Ministry of Justice shall assume the prime responsibility for, and coordinate with the Ministry of Planning and Investment, the Ministry of Foreign Affairs and related agencies in, organizing the Legal Development Cooperation Forum; organizing meetings of the Legal Partnership Group; and making lists of priority fields in legal cooperation.

View full text in Decree No. 113/2014/ND-CP of Vietnam’s Government, which takes effect from March 01, 2015.

Thu Ba

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