Saturday, January 6, 2007

Vietnam to lure ODA of 24 bln U.S. dollars in 2006-2010 period

Vietnam is expected to attract official development assistance (ODA) of 20-24 billion U.S. dollars between 2006 and 2010 under its recent strategy on the issue.

Of the anticipated ODA, some 10.9-12.3 billion dollars will be disbursed in the five-year period, local newspaper Pioneer on Friday quoted some surveyed donors as saying.

Vietnam will prioritize luring and spending ODA on the development of agriculture, electricity, transport, telecommunications, and urban infrastructure. Specifically, it will use the fund for developing electricity networks, especially in rural areas, building North-South highways and expressways in key economic zones, and upgrading some rail routes.

International donors, at the Consultative Group meeting late last year, committed to offer Vietnam nearly 4.5 billion dollars in ODA in 2007, up from 3.7 billion dollars in 2006.

Vietnam posted gross domestic product (GDP) growth of 8.17 percent in 2006, higher than the average growth of 7.5-8 percent set for the 2006-2010 period, according to the country's General Statistics Office.

Source: Xinhua

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