JICA’s committed loans for Vietnam roughly unchanged in FY 2017
Fujita Yasuo, Chief Representative of JICA Vietnam Office, made the statement at the agency’s press conference on April 20, adding that Vietnam remains one of the countries with the biggest JICA-funded projects in the world.
In FY 2016, Japan pledged to provide Vietnam with JPY187.1 billion (US$1.7 billion) in loans and disbursed JPY175.6 billion (US$1.6 billion) for the country.
Fujita Yasuo said in FY 2017, JICA will maintain its support as in FY 2016 for the fields of promoting economic growth and international cooperation capacity, enhancing state governance, and supporting vulnerable groups.
However, the contents subject to the support will be adjusted in accordance with the Japanese Government’s policies, the Vietnamese Government’s demand, and sustainable development goals.
The JICA representative said the disbursement for FY 2017 is set to decrease from FY 2016 since the Thai Binh thermal power plant project already passed the stage that needed much funding.
Additionally, that the Vietnamese Government curbs the disbursement of corresponding capital from its budget will also influence JICA’s disbursement of the committed loans.
Fujita Yasuo pointed out obstacles to JICA’s support provision, elaborating that the handling of administrative procedures and site clearance remain sluggish. Meanwhile, procedures for approving ODA projects have become more complicated under the Vietnamese Government’s Decree 16/2016/ND-CP on the management and use of foreign sponsors’ ODA and concessional loans.
He stressed that JICA respects Vietnam’s public debt limit, but the country should simplify necessary procedures so as to facilitate the disbursement of the committed capital and the implementation of projects.
The problems JICA has encountered also face other foreign sponsors in Vietnam so they will work together to ask the Vietnamese Government to tackle the aforementioned obstacles, he added.
Related News
Vietnam ready to export first batch of sweet potatoes to China
13:57 | 06/04/2023 Anti-Smuggling
Australian Governor-General wraps up State visit to Vietnam
13:53 | 06/04/2023 Headlines
Vietnam a potential market for French businesses, investors: experts
16:12 | 05/04/2023 Import-Export
Vietnam active at UN Human Rights Council’s 52nd session
16:11 | 05/04/2023 Headlines
Latest News
Corporate bonds worth 1.1 billion USD issued in March
13:55 | 06/04/2023 Finance
Tax revenue is estimated at VND 426,922 billion in the first quarter
09:56 | 06/04/2023 Finance
Nearly 400 complaints about insurance distribution through banks on Ministry of Finance hotline
14:47 | 04/04/2023 Finance
Central bank starts huge credit package for social housing projects
14:42 | 04/04/2023 Finance
More News
In Q1, State revenue estimated to rise by 1.3%
13:28 | 04/04/2023 Finance
Consider raising the level of penalties to ensure fairness and transparency in the stock market
13:27 | 04/04/2023 Finance
Central bank cuts policy interest rates to spur growth
17:43 | 02/04/2023 Finance
Ensure policies to attract investment when implementing global minimum tax
10:33 | 02/04/2023 Finance
SBV asks to issue revised decree on foreign ownership cap at Vietnamese banks
20:30 | 01/04/2023 Finance
Solutions to attract FDI when implementing the global minimum CIT
11:38 | 01/04/2023 Finance
Effective implementation of tax incentives as driving force for growth in trade turnover between Vietnam and Cuba
13:43 | 31/03/2023 Finance
Being many "hot" issues at the general meeting of shareholders of banks
09:24 | 30/03/2023 Finance
Bringing the policies on reducing land rent and water surface rent into life
15:41 | 29/03/2023 Finance
Your care
The system has not recorded your reading habits.
Please Login/Register so that the system can provide articles according to your reading needs.
Corporate bonds worth 1.1 billion USD issued in March
13:55 | 06/04/2023 Finance
Tax revenue is estimated at VND 426,922 billion in the first quarter
09:56 | 06/04/2023 Finance
Nearly 400 complaints about insurance distribution through banks on Ministry of Finance hotline
14:47 | 04/04/2023 Finance
Central bank starts huge credit package for social housing projects
14:42 | 04/04/2023 Finance
In Q1, State revenue estimated to rise by 1.3%
13:28 | 04/04/2023 Finance