Deputy Prime Minister Hoang Trung Hai attended the 2012 mid-year Consultative Group (CG) meeting in Dong Ha City in the central province of Quang Tri on June 4, which opened with a discussion on Vietnam’s recent economic developments.
The mid-year CG meeting opened on June 4 and discussed Vietnam’s recent economic achievements. This was a chance for the Vietnamese government and representatives of other countries to exchange ideas, while discussing methods and steps to enhance poverty easing measures and ways to exploit ODA funds more effectively.
|Representatives of the mid-year CG meeting take a field journey in Quang Tri (Photo SGGP)|
International experts said that Vietnam’s economy is on the right track towards macro stability, as inflation has been on the decline since it peaked in August last year.
The Resident Representative of the World Bank (WB) in Vietnam, Ms. Victoria Kwakwa, commended the foreign sponsors’ fund to Vietnam that was matched with a huge fund invested by the Vietnamese government to ease poverty.
She stated that the fact that Vietnam achieved much in recent years shows that the country has made good use of ODA funds in its efforts to stabilise the economy, but warned that vulnerable areas remain and the country should not loosen its policies prematurely.
Prior to the mid-year CG meeting in Quang Tri on June 3, the People’s Committee of the province met and worked with the Japan International Cooperation Agency (JICA) led by Tsumo Motonori.
Since 1996, JICA has supported Quang Tri with 30 projects worth US$23 million, notably the project to develop the East-West economic corridor and the Ho Xa-Vinh Tu-Vinh Thai Expressway in Vinh Linh District.
As part of the ongoing mid-year Consultative Group (CG) meeting, international donors made two field trips on June 4 to assess the effectiveness of their assistance to six projects across the province.
One group of donors visited the Mine Action Visitor Centre in Dong Ha City, the inter-commune road and afforestation projects in Vinh Linh District, while another group toured three irrigation and flood prevention projects in the north of the province.
According to official reports, these projects have profoundly transformed the lives of local residents by raising their average income and improving the local economy and social infrastructure.
After the field visits, the international donors evaluated the contribution of such projects to the province's socio-economic development.
Officials from Quang Tri Province discussed with international donors a project to upgrade the Nam Thach Han irrigation system, at a cost of more than US$4.1 million. The Asian Development Bank is putting up $3.7 million in preferential loans towards the cost of the project. The work is one of several projects designed to bring macro-economic stabilization to the region.
The representatives also examined other projects: the German government’s subsidized afforestation project and the environment restoration project sponsored by RENEW aimed at overcoming effects of war.
The mid-year CG meeting will continue today with sessions on sustainable poverty reduction and managing the country's vulnerability to natural disasters.