Vietnam defines efficient use of ODA

CA - Vietnam has clearly defined the efficient use of official development assistance (ODA) as the country is fully aware of its importance as a special capital source, a senior legislative official affirmed.

National Assembly Vice Chairman Uong Chu Luu made the affirmation at his meeting in Hanoi on February 26 with representatives from the International Parliamentary Union (IPU) inquiring into the country’s use of ODA.

The Vietnamese official also affirmed that Vietnam is very strict in handling law violations in the field.

He asserted the National Assembly plays an important role in building and perfecting institutional frameworks mandating the management and use of ODA and its agencies along with deputies have examined the use of ODA at localities.

In the past five years, Vietnam was provided with US$ 23 billion in ODA and this source of capital has partly helped Vietnam achieve an average GDP growth rate of 7.5% annually over the reviewed period.

The IPU experts said they will propose the IPU to assist Vietnam in enhancing National Assembly deputies’ capacity to enable them to take a more active part in supervising the use of ODA.

They also said Vietnam’s experiences in the field should be proliferated to other IPU member countries.