YBO - Defining public investment disbursement, including foreign capital, is the most important task, Yen Bai province has proactively devised plans on how to use the funding and repay loans in line with local resources as well as arrange resources to pay debt and fulfill repayment obligations, ensuring that outstanding debt is closely controlled.
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The sub-project of the World Bank-funded Dynamic Cities Integrated Development Project is one of the key projects of Yen Bai province, helping create a new look for the locality.
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In 2023, Yen Bai province assigned and adjusted spending plans for official development assistance (ODA) and preferential loans from foreign donors which were allocated from the central budget for five programmes and projects with a total foreign capital of 341.5 trillion VND (13.7 billion USD) and reciprocal capital of over 335 billion VND.
This funding was spent on projects in the fields of agro- forestry, traffic and urban infrastructure and health. The completion of the projects has positively contributed to improving traffic and urban infrastructure and enhancing medical examination and treatment capacity, making an important contribution to poverty reduction and local socio-economic development.
As of January 31, some projects had reported a high disbursement rate. The project on strengthening land management and database with loans from the World Bank (WB) completed 100% of the disbursement target, and another one on developing an online service delivery system at the grassroots level - Yen Bai province sub-project achieved a disbursement rate of 71.1%.
Last year, the provincial Department of Planning and Investment coordinated with relevant agencies and ministries to secure funding for a project that provided equipment for some ethnic boarding and semi-boarding high schools of Yen Bai province, with a total capital of 500,000 USD in non-refundable aid sponsored by the Republic of Korea's Government through the Korean International Cooperation Agency (KOICA). This project has been completed and put into operation in November last year.
This year, the province continues to coordinate with ministries and agencies to mobilise finance for three projects using ODA and preferential loans from foreign donors, focusing on urban infrastructure, agricultural and rural infrastructure, response to climate change and sustainable poverty reduction.
Specifically, a project on rural development adaptive to natural disasters with estimated investment of 21.34 million USD will be funded by loans from the Japan International Cooperation Agency (JICA) and reciprocal capital of 92.75 billion VND; a project on developing green infrastructure adapting to climate change for ethnic minority areas in Yen Bai province with an estimated investment of 179.1 million USD will be financed by Asian Development Bank and reciprocal capital of 1.1 trillion VND; and a project on sustainable development and poverty reduction through a better water management model in Nam Bung commune, Van Chan district, Yen Bai province is expected to be funded by non-refundable aid worth 300,000 USD.
In particular, the project on sustainable development and poverty reduction through a better water management model in Nam Bung commune, Van Chan district, Yen Bai province has been given in-principle approval by the People's Council of Yen Bai province. The provincial People's Committee has proposed the Ministry of Planning and Investment to include foreign funding for the project in the medium-term public investment plan for 2021-2025 period so that it can be carried out soon.
Thu Trang
Enterprises in Vietnam in general and Yen Bai province in particular are enhancing their trade cooperation with the Republic of Korea (RoK).
YBO – Yen Bai province is popularising its advantageous industrial products and services at the 33rd Vietnam International Trade Fair (Vietnam Expo 2024) which is being held in Hanoi from April 3-6.
The Farmers’ Association of Yen Bai province has just cooperated with the Management Board of the Forest and Farm Facility (FFF) programme, the Vietnam Farmer’s Union (VNFU), the Farmers’ Association of Yen Binh district, and Tan Nguyen commune to launch a large timber afforestation and forest restoration campaign in an attempt to reduce greenhouse emission.
Branded products of Yen Bai province have received warm welcome from the market. In recent years, many enterprises have paid due attention to developing their brands and secure a foothold in the market.
