Directive 03/CT-TTg implementation of Resolution 582/NQ-UBTVQH14 on foreign loans

DIRECTIVE

On implementation of Resolution No. 582/NQ-UBTVQH14 of October 5, 2018, on a number of tasks and solutions to continue stepping up the implementation of policies and laws on management and use of foreign loans ^[1]

On October 5, 2018, the National Assembly Standing Committee promulgated Resolution No. 582/NQ-UBTVQH14 on a number of tasks and solutions to continue stepping up the implementation of policies and laws on management and use of foreign loans. Based on the assessment of results of implementation of policies and laws on management and use of foreign loans, and the tasks and solutions set forth in such Resolution, the Prime Minister instructs:

1. The Ministry of Planning and Investment

a/ Based on conclusion opinions of the National Assembly and the National Assembly Standing Committee and instructions of the Government, to continue completing the draft Law on Public Investment and report it to the Prime Minister and the Government for submission to the XIV^th National Assembly for passage at its 7^th session;

b/ To formulate 5-year and annual public investment plans for official development assistance (ODA) and concessional loans of foreign donors, report these plans to competent authorities for approval, and organize the implementation thereof in line with the progress prescribed in the Law on Public Investment;

c/ To evaluate the disbursement and efficiency of foreign loan-funded projects in accordance with law, specifically as follows: (i) for projects which are not yet put into execution as their efficiency cannot be determined, to suspend them for review and re-evaluation; (ii) for projects already put into execution, to carry out mid-term evaluation and find out problems and shortcomings for timely remediation; and (iii) for completed projects, to carry out comprehensive evaluation of their efficiency in accordance with the Law on Public Investment;

d/ To assume the prime responsibility for, and coordinate with the Ministry of Finance and related agencies in:

- Guiding the implementation of orientations for attraction, management and use of ODA and concessional loans of foreign donors in the 2018-2020 period, with a vision for the 2021-2025 period, as approved under the Prime Minister’s Decision No. 1489/QD-TTg of November 6, 2018.

- Further improving the orientations for attraction, management and use of ODA and concessional loans during the 2021-2025 period in line with the 2021-2030 ten-year socio-economic development strategy and the 2021-2025 five-year socio-economic development plan; proposing the Framework Strategy on new development partners with a vision toward 2030 as a basis for formulating programs and projects expected to use ODA and concessional loans, and development cooperation activities in the coming time, and submitting such to the Prime Minister for consideration and decision. Time limit for completion: third quarter of 2020.

- Proposing and implementing solutions to increase the effect and efficiency of the operation of the National Steering Committee on ODA and concessional loans; formulating mechanisms for regular and effective coordination between Vietnamese agencies and donors regarding the management and use of ODA and concessional loans.

- Modernizing the management of ODA and concessional loans by establishing, implementing and operating the national information system, attaching the management of public investment to the management of public finance and public debts, and fully and timely updating information at all stages, from the formulation, proposal and approval of projects to the negotiation and signing of agreements, monitoring and evaluation of projects and implementation of medium-term and annual public investment plans for foreign loans. Time limit for completion: fourth quarter of 2019.

2. The Ministry of Finance