Thai Nguyen urged to make optimal use of ODA capital
17:01 | 05/09/2017

VGP – Deputy PM and FM Pham Binh Minh asked Thai Nguyen to make the most of official development assistance (ODA) capital for development, at a working session with the Standing Board of the provincial Party Committee on September 5.

In his remark, the Deputy PM praised the efforts made by Thai Nguyen’s levels, sectors, business community and people, in addition to the province’s significant achievements across fronts in 2016 and in the first eight months of 2017.

Thai Nguyen ranks second in terms of the economic growth and third in regards to the export revenues in the country, while settling for fourth and third positions concerning the average GDP per capita and industrial production value, respectively, among the 10 provinces in the capital region.

Thai Nguyen’s business climate continues to improve, with its provincial competitiveness index at seventh out of 63 cities and provinces in 2016, Mr. Minh said, applauding the province’s proactivity and creativity in attracting investment from the private sector into local infrastructure development projects.

In regards to the underway ODA projects in the province, he asked Thai Nguyen to accelerate the disbursement progress and avoid wasting this capital source, amid difficulties in the State budget subsidy for development.

It is irresponsible when ODA capital is wasted, because ODA loans require interest payments, Mr. Minh stated.

At the working session, the Deputy PM also issued directions aiming to accelerate key investment projects across the province, including those using ODA loans.

As reported, Thai Nguyen’s economic growth rate in the first eight months of 2017 was estimated at 14.1%, surpassing the set plan by 2.1%. Budget revenue reached over VND9.6 trillion (US$422.4 million), exceeding the set target by more than VND3 trillion.

The local export turnover during the period hit approximately US$15.43 billion, up 26.7% compared to the same period last year, while the import value was estimated at US$9.3 billion, representing an annual increase of 20%.

                                                                                                                                By Vien Nhu

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