Vietnam Aims to Mobilize US$17Bln ODA in 2006-2010

Vietnam is eyeing to mobilize US$17 billion from official development assistance (ODA) capital between 2006 and 2010 in order to fund socio-economic development projects, according to the Ministry of Finance (MoF).

 

This goal was announced as the MoF was putting forth measures to ensure the country’s economic development of 8 per cent in the period and enabling the country to integrate further in the international financial market.

 

In the next five years, the MoF also targets to mobilize US$6-7 billion from foreign indirect investment and foreign commercial loans, US$21-22 billion of foreign direct investment capital, and US$1 billion of non-refundable assistance funds.

 

To realize the above-mentioned targets, the ministry pledged that it would also improve legal system and financial policies to be in line with international practices, remove hindrances for foreign investors, issue laws on personal income tax, tax management, and auditing and accounting standards.
VNA