08:13 | 22/03/2014 Economy
(VEN) - The Japan International Cooperation Agency (JICA) and the government of Vietnam concluded a JPY86.425 billion official development assistance (ODA) loan agreement for four projects on March 18, on the occasion of the visit to Japan by Vietnam President Truong Tan Sang.
The loan would go to the North-South Highway’s Da Nang-Quang Ngai section (worth JPY30.008 billion), the North-South Highway’s Ho Chi Minh City-Dau Giay section (JPY18.459 billion), and the Lach Huyen Port infrastructure project which includes two components – the Lach Huyen Port and the Tan Vu-Lach Huyen Road (JPY37.958 billion).
JICA Vietnam said that the ODA loan would help Vietnam build economic infrastructure which is vital for strengthening its competitiveness.
To ensure fair and competitive bids, Vietnam would assign a third party to independently examine the bids for several projects which would be discussed and adopted by the Vietnamese government and the JICA. Examination costs would not be included in Japanese ODA loans./.