Vincom Shophouse in YenBai city.

Being a poor province, Yen Bai’s annual budget only meet 25% of recurrent expenditure. Besides, resources for developing is limited.  For many years, Yen Bai have always determined that attracting and using ODA capital is an effective way to promote economic and social development.

In period of 2010-2015, Yen Bai province received and used capital from ADB, WB, JICA, Korean Government … to implement 41 projects with the total investment of VND 3.302 billion in which ODA capital is VND 2.481,8 billion. These projects focused on: agro-forestry, transport infrastructure, urban; culture, health, society. These projects have positively contributed  to develop local socieconomy, promote transport and irrigation, reduce poverty.

In 2016, the Department of Plan and Investment continued to co-ordinate with revelant ministries to mobilize the Project “Building inter-regional transport infrastructure supporting socieconomic development in poor districts in Yen Bai province”. The project was funded from the capital of Saudi Arabia Development Fund with the total investment of about $ 41,065 million,  of which ODA capital was $ 20,338 million, the counterpart fund was $ 20,727 million.

In 2017, the Department of Plan and Investment has continued to co-ordinate with revelant ministries to prepare proposals for mobilizing three ODA projects which focus on urban infrastructure, argiricutural infrastructure and rural areas with total investment of VND 2,205.6 billion, of which foreign capital is VND1,849.3 billion and domestic capital is VND326.3 billion. Receiving ODA projects has created an important resource to develop local socieconomy.

Besides, some investors are lack of experience in mobilizing, preparing and implementing projects according to the requirements of foreign donors, so some projects have been slow. ..

According to Department of Plan and Investment, to solve these difficulties and obstacles and enhance the attracting foreign investment capital. Yen Bai also need to foster the speed of key projects according to the agreements which were signed with investors;

These projects has contributed to renovating and improving urban infrastructure, transportation, irrigation, water supply, sanitation, community health care, and investment in education facilities, agriculture and rural development.

Despite the important result, attracting and using ODA in Yen Bai recent years have faced with difficulties because of incomplete legal document system.

In order to mobilize and use effectively ODA projects in the coming time, Yen Bai Provincial People's Committee should set up a board of mobilizing and managing ODA projects. The Board woul include well-experienced people in contacting and working with foreigners …