Japan International Cooperation Agency (JICA) has observed animprovement in disbursement of funds for its projects in Vietnam inrecent months, JICA Vietnam Chief Representative Tsuno Motonori hassaid.
The official noted Vietnamese Government efforts toincrease public investment as part of the economic restructuringprogramme and its consistent emphasis on timely project completion.
“JICA-funded projects have benefited from this general trend,” the JICAofficial said i n an interview with Vietnam News Agency’s Vietnam Pluswebsite.
However, he raised the fact that thesuccess of a number of projects in Vietnam has reflected thephysical completion of these projects regardless of time and associatedcost and it is rare to see a public investment project completed on timeas scheduled.
“There are many reasons attributed to this but themost notable ones are site clearance, capacity of Executing Agency inproject management including procurement, contract management, andcoordination among stakeholders,” the JICA official said.
Now classified as a middle income country, Vietnam still needshuge investment for infrastructure development for sustainable growthsince public investment is no longer sufficient.
Inthis sense, he noted that other investment forms, such as Public PrivatePartnership, are practical methods to attract more efficientinvestment.
“JICA has actively engaged in promoting the PPPmodel to attract more Japanese investors to Vietnam ,” the Japaneseofficial said.
He also stressed the requirement of strengtheninginstitutional capacity for efficient governance, with particularattention to public investment, to achieve quality growth, a necessityfor economic sustainability.
Talking about thesituation where inflation erodes achievements in economic growth andmore importantly, in income and social equality, the JICA official saidthat Vietnam ’s current macroeconomic policy and actions taken tocurb inflation are positive and monetary and fiscal policies seem to bemore in harmony.
“The Vietnamese Government shall bedetermined and firm in the current direction of inflation control andimplementation of structural reform to make the economy more competitivein the longer term,” he said.
Key issues to be addressed are themaintenance of macroeconomic stability, strengthening institutions toimprove transparency, governance, efficient public expenditure andinvestment, and development of the private sector as factors foreconomic growth, the JICA chief said.-VNA
The official noted Vietnamese Government efforts toincrease public investment as part of the economic restructuringprogramme and its consistent emphasis on timely project completion.
“JICA-funded projects have benefited from this general trend,” the JICAofficial said i n an interview with Vietnam News Agency’s Vietnam Pluswebsite.
However, he raised the fact that thesuccess of a number of projects in Vietnam has reflected thephysical completion of these projects regardless of time and associatedcost and it is rare to see a public investment project completed on timeas scheduled.
“There are many reasons attributed to this but themost notable ones are site clearance, capacity of Executing Agency inproject management including procurement, contract management, andcoordination among stakeholders,” the JICA official said.
Now classified as a middle income country, Vietnam still needshuge investment for infrastructure development for sustainable growthsince public investment is no longer sufficient.
Inthis sense, he noted that other investment forms, such as Public PrivatePartnership, are practical methods to attract more efficientinvestment.
“JICA has actively engaged in promoting the PPPmodel to attract more Japanese investors to Vietnam ,” the Japaneseofficial said.
He also stressed the requirement of strengtheninginstitutional capacity for efficient governance, with particularattention to public investment, to achieve quality growth, a necessityfor economic sustainability.
Talking about thesituation where inflation erodes achievements in economic growth andmore importantly, in income and social equality, the JICA official saidthat Vietnam ’s current macroeconomic policy and actions taken tocurb inflation are positive and monetary and fiscal policies seem to bemore in harmony.
“The Vietnamese Government shall bedetermined and firm in the current direction of inflation control andimplementation of structural reform to make the economy more competitivein the longer term,” he said.
Key issues to be addressed are themaintenance of macroeconomic stability, strengthening institutions toimprove transparency, governance, efficient public expenditure andinvestment, and development of the private sector as factors foreconomic growth, the JICA chief said.-VNA
