(MPI) - Deputy Miniser of Planning and Investment Tran Quoc Phuong hosted a reception for Bärbel Kofler, German Parliamentary State Secretary to the Federal Minister for Economic Cooperation and Development in Hanoi on October 28.

At the reception. Photo: MPI

Deputy Minister Tran Quoc Phuong expressed pleasure at the continuously flourishing relationship between Vietnam and Germany, noting Germany as Vietnam’s largest trading partner within the European Union (EU).

During discussions on issues of interest to Germany, particularly concerning the draft Law on Public Investment (amended), the deputy minister indicated that the draft law would include policies to promote the implementation and disbursement of official development assistance (ODA) and concessional loans from foreign sponsors, including projects funded by Germany.

He elaborated that the main amendments and additions would involve decentralizing authority, simplifying procedures for approving investment policies and decisions on projects using foreign capital. Additional regulations will include timelines for capital planning for projects using foreign funds and the disbursement of such capital, as well as provisions for halting the use of ODA at various stages of programs and projects, and streamlining the execution of non-refundable ODA projects.

Deputy Minister Phuong emphasized that the Vietnamese government highly values and appreciates Germany's support in development cooperation over the years. He expressed hope that both countries will continue to strengthen their multifaceted cooperation relationships, including in trade-investment, energy transition, labor, and vocational training. The Ministry of Planning and Investment (MPI) affirmed its commitment to working closely with the German Embassy and development partners to provide timely information relevant to the current legal framework.

Kofler, for her part, thanked the official for the insights shared and highlighted the close cooperation between the two countries in various sectors, including labor cooperation, energy transition, and development cooperation. The German government, through KfW and GIZ, has been collaborating with Vietnamese ministries, sectors, and localities to promote projects focusing on climate change, environmental protection, energy, and sustainable development of the Mekong Delta.

She noted that the vibrant Vietnamese community in Germany, along with students and researchers, serve as vital bridges” in enhancing bilateral relations, fostering exchanges, and driving dynamic economic development.

Kofler expressed confidence that the positive policy changes would accelerate the deployment of ODA projects funded by the German government, and create a more transparent and favorable legal corridor for German enterprises investing and doing business in Vietnam./.

Bao Linh

Ministry of Planning and Investment