Common problems
- ODA looks cheap on the coupon, but conditions on contractors and equipment origin raise the real cost.
- Currency risk on a foreign-currency loan running twenty or thirty years is not quantified.
- Domestic counterpart funds are not provided on time, which stalls disbursement of the loan itself.
- It is unclear which parts are suitable for a private investor and which the State must keep.
Legal basis
The wording below is our reading of each provision, not an official translation. Only the Vietnamese text is authoritative — you can open every document in the Document lookup section.
Law on Railways — Article 24For railway projects under the investment law or the public-private partnership law, the State guarantees the entire cost of compensation, support and resettlement from the State budget, and that work is separated into its own project.
Law on Railways — Article 23A compensation, support and resettlement component project is managed as an independent project and need not meet the requirement of independent operation that construction law otherwise imposes.
Law on Railways — Article 5.2 and 5.4On-lending and preferential credit support; and the treatment of railway infrastructure business, railway transport, railway industry and railway workforce training as investment-incentivised sectors.
What we do
- List the available sources and what each requiresFor each: interest, tenor, grace period, procurement conditions, disbursement procedure.
- Bring them onto one basis of comparisonCompute the true cost of capital after procurement conditions and procedural cost — not the headline rate.
- Map the risksCurrency, disbursement, site clearance schedule — who carries each, and through which contractual mechanism.
- Propose a structure with a fallbackIncluding the trigger: if source A slips by more than a stated period, which route takes over.
What you receive
- A comparison of funding sources on a single basis
- A risk allocation map across the parties
- A proposed funding structure with fallback scenarios
When to call us
When preparing the investment policy file; when considering moving part of a line to a public-private partnership; or when the current source has run into disbursement difficulties.
Two conditions, stated before anything else. First, this is a service under Clause 2, Article 40 of the Law on Independent Audit — an audit firm must register it with the Ministry of Finance before providing it. Second, if we audit your organisation, or expect to, this engagement must pass an independence check under Article 30 of the same law before signing. We run that check first, and if it fails we say so plainly and decline.
Next step
Describe your situation on the Request advice page, or call 0825092007. We read it, classify it and reply within 24 working hours — including when the answer is that the work falls outside what we are permitted to do.
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