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Vietnam ministry wants government to avoid Chinese-aided projects

High interest rate and overrun costs prompt Hanoi to rethink Chinese assistance

A freight train linking China's Nanchang and Vietnam's Hanoi departs Henggang railway station, marking the launch of the service, in Nanchang, China in 2017.    © Reuters

HO CHI MINH CITY -- Vietnam's Ministry of Investment and Planning issued a warning to its government about official development assistance and preferential loans from China, saying that many such projects have been poorly executed and cost Hanoi more than expected.

High interest rates charged on the funds, project overruns and a lack of local content were cited as problems found in Beijing ODA.

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