Vietnam, Laos Finance Ministries Deepen Cooperation on ODA Management

Finance ministry officials from Vietnam and Laos convened in Hà Nội on June 30 to exchange best practices in the mobilisation, management, and utilisation of official development assistance (ODA) and concessional foreign loans.

The meeting brought together representatives from the Department of Debt Management and External Economic Relations of Vietnam's Ministry of Finance and the Department of International Finance and Cooperation from the Lao Ministry of Finance.

Nguyễn Yến Hải, Deputy Director of Vietnam's Department of Debt Management and External Economic Relations, said the exchange was part of a UNDP-supported project for the Lao side and also a step to implement cooperation commitments between the two finance ministries. She stated that Vietnam is prepared to share its experiences and the lessons learned throughout its development.

Hải noted that Vietnam has consistently used its development orientations as a foundation for identifying financing needs, including for ODA and concessional loans. She stressed that a sound legal and policy framework is essential for the efficient management and use of development finance.

Beyond infrastructure investment, Hải added, ODA has played a significant role in improving institutional frameworks, strengthening governance, developing human resources, and enhancing the capacity of implementing agencies.

Leading the Lao delegation, Vongkhamheng Vongthachack, Director of the Department of International Finance and Cooperation, said the working visit was aimed at studying Vietnam's expertise. He explained that the Lao side was focused on learning about Vietnam's legal framework, management mechanisms, and inter-agency coordination for ODA and concessional financing.

Vongthachack noted a particular interest in Vietnam's experiences following its recent administrative apparatus restructuring, especially regarding changes in ODA management. The delegation also sought to learn from Vietnam's transition from a major ODA recipient to a middle-income country, as well as its methods for developing cooperation frameworks with development partners, its programme planning process, and its practical approaches to managing development assistance.

During the meeting, Vietnamese officials presented their expertise and answered questions from their Lao counterparts on legal regulations, implementation mechanisms, and policy adjustments made during different stages of development.

The two sides agreed to continue regular professional exchanges and experience sharing to further strengthen cooperation between the two finance ministries.