ĐÀ NẴNG — The central coastal city has become a favourite destination for foreign diplomatic delegations and investors and a good example for other Vietnamese cities in utilising official development assistance (ODA), Deputy Prime Minister Phạm Bình Minh said at a meeting with the city’s leadership on Saturday.

Minh said Đà Nẵng experienced an impressive growth in export and tourism of over 11 per cent in the first half of this year.

“Đà Nẵng has experience in managing ODA, with disbursement about 30 per cent, higher than the average of 18 to 20 per cent among provinces and cities,” Minh said.

“However, the city should map out a strict plan for reimbursement of ODA funds in 2016-20 when the number of preferential loans will be reduced,” Minh warned.

Minh, who is minister of Foreign Affairs, said the ministry will do all to support Đà Nẵng in boosting investment promotion and connections with foreign investors.

The Deputy PM also said the government will review the city’s proposals for seven ODA projects for socio-economic development, as well as speeding up preparation for the Asia-Pacific Economic Co-operation (APEC) 2017 and the Asian Beach Games 5 to be hosted in Đà Nẵng.

The chairman of the city’s People’s Committee, Huỳnh Đức Thơ, asked the Government to include ODA funds for the seven key projects, including improvement of the quality of the water supply and the environment, the second phase of Information Technology (IT) development, the construction of Liên Chiểu Port, improvement of urban traffic infrastructure, and intelligent traffic system application.    

Thơ also asked the Ministry of Foreign Affairs and relevant agencies to help Đà Nẵng seek potential strategic investors.

Thơ said Đà Nẵng has been a leader in Provincial Competitiveness Index (PCI) in the past decade, but it only approved 30 foreign direct investment (FDI) projects with a modest fund of US$10 million in the first six months of this year.

The city has 409 FDI projects worth $3.7 billion.

In 2011-15, Đà Nẵng received 13 ODA projects worth $700 million, of which seven have been completed.

The city plays an important role as a logistics centre for the coastal central region and the East-West Economic Corridor, which links Laos, Thailand, Myanmar and Việt Nam.

In 2013, the World Bank approved a $272.1 million sustainable development project for the city, of which $202.4 million will be provided by the Bank. — VNS