Vietnam: Solutions for effective use of foreign loans

Recently, the Standing Committee of the National Assembly of Vietnam promulgated Resolution No. 582/NQ-UBTVQH14 in 2018 prescribing certain tasks and solutions to further enhance the implementation of policies and laws regarding the management and use of foreign loans.

The Standing Committee of the National Assembly of Vietnam requires the Government to focus on implementing the following key tasks and solutions:

- Review the legal system and the implementation of regulations on foreign loan funding.

- Develop a strategy for mobilizing foreign loans that is suitable for economic and social development, taking into account the conditions and preferential terms of the loan sources, and ensuring a balance with the repayment capacity of the state budget and the organizations utilizing these loans.

- Study and establish criteria for the use of foreign loans, concessional loans, and ODA funds to ensure strictness, effectiveness, and transparency.

- Address the issue of the amount exceeding VND 300.000 billion of total investment from foreign sources according to Resolution No. 26/2016/QH14.

Other solutions can be found in Resolution No. 582/NQ-UBTVQH14 of the Standing Committee of the National Assembly of Vietnam, which takes effect from October 05, 2018.


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