INDIVIDUAL CONSULTANT PROCUREMENT NOTICE. for individual consultants and individual consultants assigned by consulting firms/institutions

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1 Date: 15 September 2017 INDIVIDUAL CONSULTANT PROCUREMENT NOTICE for individual consultants and individual consultants assigned by consulting firms/institutions Country: Description of the assignment: Viet Nam 08 International and National Consultants to support Government of Viet Nam in strengthening ODA mobilization and utilization, and public debt management - 01 International Consultant: working days (Ref a) - 01 National Consultant Team leader: 50 working days (Ref b) - 02 National Consultants supporting MPI in carrying out the task 1: 40 working days (Ref c) - 02 National Consultants supporting MPI in carrying out the task 2: 30 working days/ consultant (Ref d) - 02 National Consultants supporting MOF in carrying out the task 3: 50 working days / consultant (Ref e) Project name: UNDP Vietnam Period of 1 Oct 31 Dec 2017 assignment/services (if applicable): Tender reference: ( ) 1. Submissions should be sent by to: nguyen.thi.hoang.yen@undp.org no later than: 28 September 2017 (Hanoi time). With subject line: (Reference #) Name of assignment Submission received after that date or submission not in conformity with the requirements specified this document will not be considered. Note: - Any individual employed by a company or institution who would like to submit an offer in response to this Procurement Notice must do so in their individual capacity, even if they expect their employers to sign a contract with UNDP. - Maximum size per is 7 MB. - Any request for clarification must be sent in writing, or by standard electronic communication to the address or indicated above. Procurement Unit UNDP Viet Nam will respond in writing or by standard electronic mail and will send written copies of the response, including an explanation of the query without identifying the source of inquiry, to all consultants. - After submitting proposal, bidder should send notification by (without attachment) to: procurement.vn@undp.org informing that the bidder has submitted proposal. UNDP will not be responsible for the missing of proposal if the bidder does not send notification to above address. 1

2 - Female consultants are encouraged to bid for this required service. Preference will be given to equally technically qualified female consultants. 2. Please find attached the relevant documents: Terms of Reference (TOR)... (Annex I) Individual Contract & General Conditions.. (Annex II) Reimbursable Loan Agreement (for a consultant assigned by a firm) (Annex III) Guidelines for CV preparation (Annex IV) Format of financial proposal.... (Annex V) 3. Interested individual consultants must submit the following documents/information (in English, PDF Format) to demonstrate their qualifications: a. Technical component: - Signed Curriculum vitae - Copy of 1-3 publications/writing samples on relevant subject. - Reference contacts of past 4 clients for whom you have rendered prefererably the similar service (including name, title, , telephone number, address ) b. Financial proposal (with your signature): - The financial proposal shall specify a total lump sum amount in USD (for International Consultant) and Viet Nam Dong (for National Consultant) including consultancy fees and all associated costs i.e. airfares, travel cost, meal, accommodation, tax, insurance etc. see format of financial offer in Annex V. - Please note that the cost of preparing a proposal and of negotiating a contract, including any related travel, is not reimbursable as a direct cost of the assignment. - If quoted in other currency, prices shall be converted to the above currency at UN Exchange Rate at the submission deadline. 4. Evaluation: The consultants will be evaluated and selected separately. The technical component will be evaluated using the following criteria: International consultant (Ref a): No. Consultant s experiences/qualification related to the services Max points 1. Relevant qualifications PhD. in economics, development economics (specializations in finance, investment, 100 public debt/management are assets) and/or related fields. 2. Relevant experiences/knowledge 2.1 Good knowledge and understanding of Viet Nam s development and challenges; good 200 knowledge of Viet Nam s development finance strategies, legal frameworks and policies, practice and related institutional arrangements and mechanisms (of budgeting, planning, mobilization, utilization and management of resources at central and local levels) in general and ODA, Government borrowing and expenditures in particular. 2.2 Good knowledge on international (especially in the East Asian/ASEAN regions as well 200 as in countries that successfully graduated from ODA) experiences in development financing in general and in public debt management, ODA mobilization and management in particular. Good knowledge on global ODA systems and (multi-lateral and bi-lateral) institutions. 2.3 Minimum 10 years of working experiences in conducting research (with good records 300 of publication) and policy advising on development/development financing/economic management/debt management/oda in Viet Nam and other countries especially in developing countries, countries in East Asian/ASEAN regions. 2.4 Strong skills in research design, development of analytical frameworks and providing technical guidance to research teams; 150 2

3 2.5 Good skills in making analysis and research paper production, good command of writing and making presentations in English. 50 Total 1000 National consultant-team leader (Ref b): No. Consultant s experiences/qualification related to the services Max points 1. Relevant qualifications Master Degree (PhD preferred) in economics with specialization in development, 100 development finance, and/or related fields. 2. Relevant experiences/knowledge 2.1 Good knowledge of Viet Nam s development finance strategies, policies and practice 200 and related institutional arrangements and mechanisms (of budgeting, planning, mobilization, utilization and management of resources at central and local levels), Viet Nam s ODA and debt management legal/policy frameworks and practices; 2.2 Good knowledge about available studies/assessments on development finance, 200 debt/debt management and ODA topics, and data needed for conducting research on development financing/oda/debt topics. 2.3 Minimum 5 years of working experiences in designing and conducting/leading research team in studies on development finance/oda/debt/debt management topics in Viet Nam, research experience on development finance topics in other countries/international comparison is an asset Strong skills in leading and providing technical guidance to research teams; good skills in making analysis and research paper production, good command of writing and making presentations in English and Vietnamese. 200 Total 1000 National consultants to support MPI in carrying out the task 1 (Ref c): No. Consultant s experiences/qualification related to the services Max points 1. Relevant qualifications Master Degree in economics with specialization in development, development finance, 100 and/or related fields. 2. Relevant experiences/knowledge 2.1 Good knowledge of Viet Nam s development finance strategies, especially ODA legal frameworks and policies and practice and related institutional arrangements and mechanisms (for ODA planning, mobilization, utilization and management at central and local levels); Good knowledge about available studies/assessments on ODA mobilization/utilization and management (on debt/debt management is an asset), and especially the processes and criteria used for screening/prioritizing and appraising/approving ODA projects. 2.3 Minimum 3 years of working experiences in designing and conducting/leading research team in studies on ODA topics in Viet Nam, experience in appraising/assessing ODA projects is a great asset Strong skills in conducting research; good skills in making analysis and research paper 200 production, good command of writing and making presentations in English and Vietnamese. Total 1000 National consultants to support MPI in carrying out the task 2 (Ref d): No. Consultant s experiences/qualification related to the services Max points 1. Relevant qualifications Master Degree in economics with specialization in development, development finance, 100 and/or related fields. 2. Relevant experiences/knowledge 2.1 Good knowledge of Viet Nam s development finance strategies, especially ODA legal frameworks and policies and practice and related institutional arrangements and 200 3

4 mechanisms (for ODA planning, mobilization, utilization and management at central and local levels); 2.2 Good knowledge about available studies/assessments on development finance, ODA 200 mobilization/utilization and management (on debt/debt management is an asset), and data needed for conducting research on development financing/oda/debt topics. 2.3 Minimum 3 years of working experiences in designing and conducting/leading research 300 team in studies on development finance/oda topics in Viet Nam, research experience on development finance/oda topics in other countries/international comparison is an asset. 2.4 Strong skills in conducting research; good skills in making analysis and research paper 200 production, good command of writing and making presentations in English and Vietnamese. Total 1000 National consultants to support MOF in carrying out the task 3 (Ref e): No. Consultant s experiences/qualification related to the services Max points 1. Relevant qualifications Master Degree in economics with specialization in development, development finance, 100 and/or related fields. 2. Relevant experiences/knowledge 2.1 Good knowledge of Viet Nam s development finance strategies, especially debt/debt 200 management legal frameworks and policies and practice and related institutional arrangements and mechanisms (for debt planning, mobilization, utilization and debt management at central and local levels); 2.2 Good knowledge about available studies/assessments on development finance, 200 debt/debt management (on ODA mobilization/utilization and management is an asset), and data needed for conducting research on development financing/debt/debt management topics. 2.3 Minimum 3 years of working experiences in designing and conducting/leading research 300 team in studies on development finance/debt/debt management topics in Viet Nam, research experience on development finance/debt management topics in other countries/international comparison is an asset. 2.4 Strong skills in conducting research; good skills in making analysis and research paper 200 production, good command of writing and making presentations in English and Vietnamese. Total 1000 A two-stage procedure is utilized in evaluating the submissions, with evaluation of the technical components being completed prior to any price proposals being opened and compared. The price proposal will be opened only for submissions that passed the minimum technical score of 70% of the obtainable score of 1000 points in the evaluation of the technical component. The technical component is evaluated on the basis of its responsiveness to the Term of Reference (TOR). Maximum 1000 points will be given to the lowest offer and the other financial proposals will receive the points inversely proportional to their financial offers. i.e. Sf = 1000 x Fm / F, in which Sf is the financial score, Fm is the lowest price and F the price of the submission under consideration. The weight of technical points is 70% and financial points is 30%. Submission obtaining the highest weighted points (technical points + financial points) will be selected. Interview with the candidates may be held if deemed necessary. 5. Contract Lump-sum Individual Contract will be applied for freelance consultant (Annex II) Lump-sum RLA will be applied for consultant assigned by firm/institution/organization (Annex III) Documents required before contract signing: - Personal History (following UNDP form) 4

5 - International consultant whose work involves travel is required to complete the courses on Basic Security in the Field and Advanced Security in the Field and submit certificates to UNDP before contract issuance. Note: In order to access the courses, please go to the following link: The training course takes around 3-4 hours to complete. The certificate is valid for 3 years. - Full medical examination and Statement of Fitness to work for consultants from and above 62 years of age and involve travel. (This is not a requirement for RLA contracts). - Release letter in case the selected consultant is government official. 6. Payment UNDP shall effect payments to the consultant (by bank transfer to the consultant s bank account provided in the vendor form (Annex V) upon acceptance by UNDP of the deliverables specified the TOR. 100% of the total contract value will be paid upon provision of all deliverables with satisfactory acceptance from UNDP CO, MPI and MOF. If two currencies exist, UNDP exchange rate will be applied at the day UNDP instructs the bank to effect the payment. 7. Your proposals are received on the basis that you fully understand and accept these terms and conditions. 5

6 Annex I TERMS OF REFERENCE (TOR) International and National Consultants to support Government of Viet Nam in strengthening ODA mobilization and utilization, and public debt management Estimated Duration: Status: Duty Station: Estimated: working days for International Consultant (30-35 days home based and 10 day of maximum two missions to Ha Noi, September December 2017); 50 working days for National Consultant Team leader, 40 working days each for two National Consultants supporting MPI in carrying out the task 1, 30 working days each for two National Consultants supporting MPI in carrying out the task 2, 50 days each for two National Consultants supporting MOF in carrying out the task 3 (all working days for national consultants are Ha Noi based and over the period from September 31 December 2017). Part-time Home based, with mission(s) to Ha Noi for international consultant. A. BACKGROUND AND RATIONALE: After decades of a relatively high level of public investment including from ODA, the public debt of Viet Nam is at a high level and approaching the public debt ceiling (of 65% of GDP) set by the National Assembly NA). At the same time, the needs for investment in infrastructure development remains very high (source: SEDP ). In the short term Viet Nam is facing a sort of paradox: while ODA declines at global, regional and country level, Viet Nam still enjoys relatively good ODA inflow (mainly concessional loans, while grant ODA a key source of financing for Technical Assistance and capacity development needs has already declined sharply). The public debt ceiling was imposed by a National Assembly concerned about macro-economic stability, the high level of debt servicing and the effectiveness and efficiency of pubic investment in general and from ODA in particular. A shortage of GOVN counterpart funding and other implementation bottlenecks has meant that a large amount of ODA funding 1 that has already been budgeted for projects which have been approved and included (or will be included) in the country s current Medium Term Investment Plan cannot be disbursed. Viet Nam has to pay interests on these loans, resulting in a loss to the government treasury. Moreover, the inability to meet spending targets damages it s the government s credibility and thus its ability to mobilize ODA to meet its development finance needs in the medium and longer term. Viet Nam is now graduating from IDA (of the WB, and ODA concessional loans of other donors, such as ADB and ADF). This, in the context of Viet Nam s embarking on a new, more inclusive and sustainable, development pathway to achieve VSDGs, requires Viet Nam to develop and apply new strategy and approaches in financing its development in general and in mobilizing and managing ODA in particular. In the recent instruction on the implementation of the National Assembly Resolution, GOVN has assigned two tasks to MPI: Task # 1:To review (hard-pipeline) ODAs projects that have been approved and loan agreements signed in terms of their impact on the midterm investment plan, public and Gov. debts; and assess the possibility of ODA disbursement in 2017 and make recommendations for projects with capital investment fund disbursements that exceed the budget approved by the NA as well as PM approved plan for borrowing, paying debts and ceilings of borrowing. 2 This includes (i) verifying the ODA resources in loan agreements that have been signed or the investment decisions have been made for the period and in 1 Reportedly, the amount includes more than US$7 billion budgeted in ODA projects that have already been included in the Mid-term investment plan (referred to as on-going ). The amount could be even higher if taking into the account the ODA projects that have been designed, negotiated and are planned to be included in the coming Mid-term investment plan (referred to as hard-pipeline ). 2 The task of assessing possibility of ODA disbursement in 2017 and make recommendations on solutions for the cases of projects with capital investment fund disbursements that exceed the budget approved by the NA as well as PM approved plan for borrowing, paying debts and ceilings of borrowing is already being carried out; 6

7 ministries and local governments disbursement plans of all on-going and planned to be signed projects for the period, (ii) assessing effectiveness of utilization, impact on government and sector investments, and public/government debts against the objectives and directions set out in the ODA Master Plan issued by the GOVN Decision 251 and based on these (iii) establishing the scope for future borrowing in and the following periods. MPI to (task # 2) update the direction of attracting, managing and utilizing ODA (identified in the ODA Master Plan which was recently approved/issued by the GOVN Decision 251) so that these are appropriate to the new context of VN s graduation from IDA, facing higher costs of ODA loans and shorter grace periods/ loan durations, as well as growing Viet Nam s roles and contributions both in terms of financial support and sharing its development experience and solutions under South-South Cooperation and other international cooperation mechanisms. GOVN also assigned to MOF: Task 3: Responsibility for developing a medium term program for debt management over with vision to (which will be used, among other purposes, as the basis for planning ODA mobilization). This TOR is developed for procuring consultancy services of international and national consultants to support MPI and MOF in delivering the above-mentioned GOVN assigned tasks. 3 B. OBJECTIVES AND SCOPE The overall objective of the consultancy service is to contribute to Viet Nam s efforts to develop and apply new, more effective and practical approaches to mobilizing and managing ODA, within a feasible strategy for transition to ODA graduation while maintaining prudential public and government debt management. In addition to the positive longer term impact of higher effective mobilization and utilization of ODA on Viet Nam s sustainable development, the immediate impact of this work could include: (i) lower costs of debt servicing on idling (on-going) ODA projects and (ii) lower opportunity costs of the on-going and hard-pipeline projects through better prioritization and faster delivery. Concretely, this work will share international experience and good practice, and provide technical advice, facilitate stakeholder consultations and other technical assistance to MPI and MOF in carrying out the abovementioned tasks. Considering ODA as an integral part of GOVN budget, the consultancy work will be conducted in close connection to (and contribute to and benefit from) the UNDP supported study on development finance assessment 4 to support Viet Nam in formulating a new strategy of development financing for achieving SDGs (TOR of UNDP supported study on development finance assessment is in the annex). Furthermore, as the topics of ODA and public debt management are very much inter-linked (within the common framework of Development Financing), the consultancy services to support MPI in carrying out the task 1 and 2 and MOF task 3 will need to be delivered in close cooperation and coordination of all consultancy team members (of both DFA and this work on ODA and public debt management). The consultancy work will also build on the work that has been completed such as UNDP-supported study on the bottlenecks of ODA project implementation and other works that have been done on public/government debt management (under MOF). The work will also be informed by UNDP s study on return of public investments to economic growth 5. Strengthening management and implementation of ODA projects (such as procurement, results-based planning and M&E, oversight and accountability mechanisms, implementation and management capacity of PMUs, etc.) is key to ensuring the effective utilization ODA projects and prudential public/government debt management. However, the present terms of reference will not directly address these aspects of ODA management. They will focus instead on support for MPI and MOF in completing the three concrete tasks assigned to them by the government and described above. Specifically, the consultancy will focus on: (i) articulating key guidelines and principles of sound ODA/public investment management based on international best practice and GOVN policy as codified in laws and decrees; and (ii) repositioning ODA within public investment plans in light of the 3 In addition to the funding for this consultancy service, UNDP will also provide support to Technical/policy dialogues/consultations (around US$15,000 mainly to cover the costs of int. speakers to share the international experience in ODA mobilization, utilization and management, transition to ODA graduation, public debt/government debt management and related draft updated ODA master plan and draft medium term program for debt management over with vision to ). 4 The Development Finance Assessment includes two phases: (i) updating 2014 DFA report to meet the needs of the August 2017 ASEAN- UNDP-China Symposium on DFA and (ii) in-depth study on DFA that will address Viet Nam s specific issues in more details. 5 Which is being initiated by UNDP senior economist to contribute to define the priorities of ODA/public investments. 7

8 increasing cost of ODA loans and decreasing availability of grants and concessional aid; and (iii) setting out a practical program of public sector debt management for the years with vision to C. Tasks and deliverables with timelines of international and national consultants Under the overall supervision of UNDP Assistant Country Director (Head of Inclusive Growth Unit) and technical guidance of UNDP Viet Nam Senior Economist, in close cooperation with MPI (Deputy Director of the Department of Foreign Economic Relation in charge of the above-mentioned tasks 1 and 2) and MOF (Deputy Director of the General Administration of Debt Management in charge of the above-mentioned task 3) as well as the national consultant team of the development finance study, the consultant team will carry out following tasks and deliver following deliverables: C.1. International consultant (with working days) will: (i) (ii) (iii) (iv) Provide a rigorous overall analytical framework and technical/methodological guidance to (a) the national consultation team of development finance study (TOR in the annex) and (b) the national consultant team supporting Government of Viet Nam in strengthening ODA mobilization and utilization, and public debt management (this TOR), especially to link the two projects in positioning ODA and other development investment resources, prioritizing ODA and other public investment sources mobilization and utilization within a prudential public/government debt management strategy. Deliverable: a short paper with necessary analytical frameworks, timeline: September A note: this may involve a mission to Ha Noi to work with the national consultant teams. To support MPI in carrying out the task 1: Collect and share international experience in developing and using practical criteria and inclusive/transparent processes for (re)assessing and (re)prioritizing ODA projects/identifying the priority areas for ODA/public investments, and provide technical support as needed to national consultant(s)/mpi staff in tailoring/adapting these criteria and process in carrying out the above-mentioned task 1; Deliverable: a short paper with practical criteria and inclusive/transparent processes for assessing and prioritizing ODA projects, timeline: September To support MPI in carrying out the task 2: (a) obtain and share experiences from other relevant countries in mobilizing and managing ODA and/or concessional loans effectively, and applying prudential public/government debt management and suitable development financing strategies and approaches to ensure smooth transition to ODA graduation (and from IDA/ADF to IBRD and OCR). This may include (but not exclusively) experiences from: RoK in external debt management and utilization of ODA; RoK, Thailand and Malaysia in graduation from ODA and engagement in South- South Cooperation; India, China and Indonesia in graduation from IDA and AFD and their strategy for utilizing IBRD and OCR, and China in graduation from IDA and its return to soft sectors utilizing IBRD. Deliverable: a short paper of international experiences, timeline: October (b) obtain information on new/emerging international investment resources and assess possibilities/opportunities for Viet Nam to access these and (c) provide advice on key principles of sound ODA/public investment management and implementation, positioning (including advising on optimum level/composition of) ODA among other development investment resources (in the context of changing ODA/development financing landscape), prioritized areas for ODA mobilization and utilization (including for capital investment, recurrent expenditure and R&D, capacity development/institutional reforms, etc.) within a prudential public/government debt management program, and other policy advices for Viet Nam to refine its strategy in transition to graduation from ODA (including directions/actions to address declining and less concessional ODA, tap new/emerging investment resources, and transition from a net ODA receiving to contributing country including by playing stronger roles in making financial contributions and sharing development experience/solutions through South-South/Triangular Cooperation, etc.); Deliverable: a policy advisory paper, timeline: November/December (d) provide comments/inputs to draft updated ODA master plan (this may involve a mission to Ha Noi to take part in and provide inputs to consultations); Deliverable: a set of comments/inputs to draft ODA Master plan and consultation events, timeline: December To support MOF in carrying out the task 3: (a) Provide technical/methodological guidance and a coherent framework (see the task (i) above) to national consultants for identifying the weaknesses of public/government debt managements and solutions for improvements a note this may involve missions to Ha Noi to work with national consultants; (b) obtain and share international data (for 6 As by-products, this work will also contribute to (i) strengthening Viet Nam s participation in the Global Partnership for Effective Development Cooperation (GPEDC), especially in terms of providing its inputs to monitoring and generating evidence on progress in making development co-operation more effective at the country level; (ii) identifying the idling and low delivering projects and causes, and therefore opportunities for UNDP to offer services (and mobilize GCS in the form of fees for services) to speeding up the implementation and achieving bigger impacts of prioritized project and (iii) identifying alternative solutions to the sharp declining grant ODA, including through introducing GCS to sustain the level of Technical Assistance and Capacity Development support (in general and particularly of UN/DP) necessary to support the institutional reforms in Viet Nam in the short and medium terms. 8

9 making comparisons), good practices and experience on public debt/government debt management; (c) provide advices on key principles, policy and institutional reform actions for Viet Nam to develop a sound public/government debt management strategy for its coming development periods, taking into the account the current situation and the global/regional changing development financing landscape and Viet Nam s development needs/priorities; Deliverable: a policy advisory paper, timeline: November/December (d) provide comments/inputs to draft medium term program for debt management over with vision to (this may involve a mission to Ha Noi to take part in and provide inputs to consultations); Deliverable: a set of comments/inputs to draft medium term program for debt management over with vision to and consultation events, timeline: December With (the above-mentioned) methodological, technical and international experience inputs from international consultant, national consultants will: National Consultant Team leader (with estimated 50 working days) will: (i) (ii) (iii) Act as the team focal point in liaising with (i) MPI and MOF (to obtain the full understanding of the needs/requirements and expected results/inputs of the consultancy work necessary for MPI and MOF in carrying out their tasks); (ii) international consultant and UNDP senior economist for obtaining necessary technical guidance necessary for implementing the consultancy assignments; (iii) all other national consultants team members (as well as the member of the DFA study team) to provide them with the technical leadership, guidance, understanding of the MPI s and MOF s needs/expected results, comments/suggestions and coordination to ensure the national consultants tasks are conducted coherently within a sound analytical framework and deliverables are provided with sound technical analysis, mutually reinforcing/complementing each other, and meet the needs of clients (MPI and MOF) in carrying their tasks assigned by the GOVN. Deliverables: technical guidance to the team members, timelines: September December Draft consolidated consultancy team s inputs to the updated ODA master plan and draft medium term program for debt management over with vision to Deliverables: consultancy team papers/inputs, timelines: November December Present the team s papers at the consultations, facilitate stakeholder provision of comments on draft updated ODA master plan and draft medium term program for debt management over with vision to , based on the comments finalize the team s papers/inputs. Deliverables: presentations of the consultancy team papers/inputs, and final consultancy team s papers, timelines: December Two national consultants to support MPI in carrying out the task 1 (with estimated 40 working days each) will: (i) (ii) (iii) Based on international experience (to be provided by international consultant) and Viet Nam s best practice tailor and recommend practical, transparent criteria and inclusive process for reviewing and reprioritizing ODA projects/identifying the priority areas for ODA/public investments. Deliverables: a paper recommending criteria and inclusive process, timelines: September Define the ODA and concessional loan amounts in agreements that have been signed and investment decisions approved (by sizes/amounts, distributions by sectors and localities) for the period ; provide inputs to requirements for ministries and local governments to prepare disbursement plans of all on-going and planned to be signed projects for the periods; analyze the information/data (as the results of the tasks (i) and (ii) above) for defining rooms for future borrowing in and next periods. Deliverables: a paper recommending requirements for ministries and local governments, and identified rooms for future borrowing in and next periods based on analysis of data, timelines: October-November Provide technical assistance to MPI/GOVN in (applying the above-mentioned criteria and processes for) conducting the review of hard-pipeline ODA projects (that are with investment decisions but not yet included in the medium term plan 7 ) and making recommendations for restructuring, reallocation of budgets, delaying/postponing the implementation of not prioritized or ineffective projects and reallocating their budgets to other more effective projects, including: such as (i) reviewing the available documents of ODA projects such as feasibility studies, socio-economic and environment assessment reports, etc. against a set of transparent and measurable criteria and priorities of SEDP/sectoral/master plans; (ii) estimating the costs and impacts of delaying/postponing/ reprioritizing projects and their effectiveness of utilization and impacts on midterm investment plan/government and sector investments, public and Gov. debts, against the objectives and directions set out in the ODA Master Plan issued by the GOVN Decision 251; (iii) identifying the implementation bottlenecks (including by categories such as implementation/management capacity, land clearance, counterpart funding, 7 For assessing/forecasting the delivery amounts in and , and, in addition, to assess/forecast the delivery of the relending projects and related impacts on public debt. 9

10 practical application of requirements such as the ceiling ODA project budget approved by the NA and PM approved plan for borrowing, paying debts and ceilings of borrowing, etc.); Deliverables: a paper recommending (re)prioritization of ODA projects with sound rationale and justifications based on the application of the above-mentioned criteria and feedbacks from consultations and with recommended rooms for future borrowing in and next periods as well as rooms for UN/DP support in addressing the implementation bottlenecks, timelines: November-December Two national consultants to support MPI in carrying out the task 2 (with estimated 30 working days each) will: (i) (ii) (iii) (iv) (v) (vi) Carry out a study assessing possibility of ODA and concessional loan supply for Viet Nam by key donors, grouped by sizes, priority areas and terms. Deliverable: a study paper, timelines: September- October Carry out a review of inputs from international consultant and literature review/desk study on new (global and regional) financial resources that can be available/assessable for Viet Nam (both domestic public and private players); assess the comparative advantages (both in terms of costs of capital and associated risks see more in the TOR for development finance study; this task will be done in close cooperation with the national consultant team for the development finance study) of different capital sources and make recommendations for appropriate level of mobilization and priority areas for utilization of each source. This includes reviewing existing documents/ materials/assessments and data, and assess ODA past trends in Viet Nam and comparison with other countries; project ODA trend/developing scenarios (costs of borrowing, traditional and new sources, volumes) for the next years; Deliverable: an ODA/concessional loan trend/forecast paper, timelines: October-November Conduct a desk review of available materials and key informant interviews Assess ODA utilization (using criteria, such as areas of ODA investments by sectors, localities, and relevance to the national development priorities over the last two decades (preferably with international comparisons); assess the contributions of ODA/concessional loans to public debt/government debt (with international comparisons, using characteristics such as public/government debt structure/composition, sources, costs, and servicing, etc.). Deliverable: an assessment paper, timelines: October-November Analyzing experiences (to be provided by the International consultant) from other relevant countries in mobilizing and managing ODA and/or concessional loans effectively, and applying prudential public/government debt management and suitable development financing strategies and approaches to ensure smooth transition to ODA graduation (and from IDA/ADF to IBRD and OCR): this may include (but not exclusively) experiences from: RoK in external debt management and utilization of ODA; RoK, Thailand and Malaysia in graduation from ODA and engagement in South South Cooperation; India, China and Indonesia in graduation from IDA and AFD and their strategy for utilizing IBRD and OCR, and China in graduation from IDA and its return to soft sectors utilizing IBRD; Deliverable: an overview of international best practices/good experiences, timelines: October-November Based on the above analyses/reviews and inputs from other consultants (and the development financing team) and key informant interviews develop key recommendations on (i) directions and feasible amounts (and prioritized sources) of ODA and concessional loan mobilization for the coming periods; (ii) (criteria for defining) areas for prioritized utilization of ODA and concessional loans, (iii) criteria for prioritizing ODA projects taking into the account the requirements for prudential public/government debt management, (iv) key principles for improving the effectiveness of ODA/concessional loan utilization, implementation and management; (v) key directions and actions to ensure smooth transition to ODA graduation and increased Viet Nam s role as a donor both in terms of financial and knowledge contributions and engagement in South South Cooperation. Deliverable: a set of draft key recommendations as inputs to updating the ODA master plan, timelines: December Present the recommendations in consultations on the draft of updated ODA master plan and finalize the commendations. Deliverable: a set of final key recommendations as inputs to updating the ODA master plan, timelines: December Two national consultants to support MOF in carrying out the task 3 (with estimated 50 working days each) will: (i) Conduct a desk review of available materials (including relevant legal and policy frameworks, other studies/assessments and in close cooperation with the development finance study team) on (i) public/government debt and management in Viet Nam and (ii) international experiences/practices; review the available assessments of public/government debt and public/government debt management in Viet Nam to highlight the key differences (deviations from best int. practices) and weaknesses of Viet Nam in public and government debt management to provide an assessment of the current legal framework for public debt management (including management of ODA and concessional loan 10

11 (ii) (iii) (iv) (v) mobilization and utilization). Deliverable: an assessment paper, timelines: October 2017 (one month after signing of the consultancy contract). Assess the public/government debt situation and trends (over the last 10 years) by sources, terms, repayment schedules and borrowers (central, local governments, SOEs, etc.), debt servicing and their impacts on government budget/expenditures; identify the achievements so far and remaining/new key issues/challenges in public debt management; Deliverable: an assessment paper, timelines: October - November Assess possibilities/potentials of mobilizing and utilizing government/public borrowings through different sources (ODA, central and local government bonds, SOEs); develop and apply a simple model for simulation of scenarios (with related assessment of risks and costs involved) of public/government debts (borrowers and sources, optimum volumes and balance between sources/borrowers, debt servicing) for the coming periods 8 taking into the account (a) the public/government and foreign debt ceilings and (b) feasible budget and budget deficit targets, ability to service debts and other macro-economic targets; and conduct an ex-ante assessment of impacts of government/public debts on government budget and expenditures. Deliverable: an assessment/forecast paper, timelines: October - November Based on the above analyses/reviews and inputs from other consultants (and the development financing team) and key informant interviews develop a paper with necessary assessments, analyses and key recommendations on (a) directions and feasible levels (and prioritized sources) of pubic/government debts and ODA mobilization (with forecasts on public debt targets/levels and debt servicing requirements/ability for ) for the coming periods; (b) areas for prioritized utilization of pubic/government debts, 9 (c) key principles and actions for improving the prudential public/government debt management and (d) key principles and actions for minimizing negative impacts of public/government/foreign debts on government budget and expenditures (especially on key public services that are essential for Viet Nam to maintain inclusive growth). Deliverable: a draft paper with inputs to the draft medium term program for debt management over with vision to , timelines: December Present the draft paper and recommendations in consultations on the draft medium term program for debt management over with vision to and finalize the paper based on the comments. Deliverable: final paper, timelines: December D. PAYMENT TERMS 100% of the total contract value will be paid upon provision of all deliverables with satisfactory acceptance from UNDP CO, MPI and MOF. E. DOCUMENTS AND SUPPORT OF SUSTAINABLE DEVELOPMENT OFFICE AND UNDP UNDP CO, MPI and MOF will provide following relevant background documents: ODA master plan (issued by the GOVN Decision 251) Study on ODA project implementation bottlenecks (by UNDP s consultant) Law on Public Debt Management (29/2009/QH11) GOVN Decree 79/2010/NĐ-CP, 14/7/2010, on public debt management procedures GOVN Decree 04/2017/NĐ-CP, 16/1/2017, on issuance and management of government s guarantee (replacing the Decree 15/2011/NĐ-CP) Resolution 07-NQ/TW, 18/11/2016, on directions and solutions of restructuring state budget and management of public debt to ensure the prudential and sustainable national finance. Resolution 25/2016/QH14, 9/11/2016, on national 5 year financial plan with approved directions on mobilization, management and utilization of public debts and ceilings of period. Other documents and data on ODA and public debt that are relevant and available as requested by consultants. 88 The simulation work is expected to provide: estimations of (i) the limits of public debt (in term of volume taking into the account the ceilings measured by the debt as a share of GDP and of revenue amounts at central and local levels, debt repayment capacity of the State and local government budgets set by NA, etc.) in the next years; (ii) the volumes and terms/conditions of domestic and external sources that Viet Nam can mobilize in the next years with analysis/comparisons of advantages/ disadvantages of sources (especially domestic - Government bond and external - ODA, concessional loan); (iii) the optimal shares/proportions and volumes of domestic and external borrowings (both public/state and private) within the public debt ceilings over the year periods, (iv) debt servicing ability/requirements, taking into the account the trends of public debt based on the assessment of current/revised disbursement schedules of ongoing (ODA and other public debt-financed) projects and projects with completed procedures on investment decisions. Based on the above results as well as the country s needs for financial resources (capital) for development and forecast of the development of domestic capital market, the rooms/scenarios (with proposed targets/actions and public debt limits) for additional ODA mobilization and mobilization resources from other sources (public and private domestic/external borrowing) at least for the next 5-10 years. This work will need to be carried out in close cooperation with the DFA study/team and will be supporting not only the MOF in carrying the task 3 but also MPI in carrying out the tasks 1 and 2. 9 The analyses and recommendations mentioned in (a) and (b) will be based on the simulation/analysis work (noted in point iii and footnote 9 above) and presented in accordance to scenarios with analysis of risks and costs of scenarios. 11

12 All documents and data provided to the consultants are confidential and cannot be used for any other purposes or shared with a third party without any written approval from UNDP, MPI and MOF. UNDP Country Office, MPI and MOF are not required to provide any physical facility for the work of the consultants, however venues for some technical meetings/consultations can be provided, at the discretion of the UNDP Country Office, MPI and MOF as necessary. As necessary, UNDP Country Office, MPI and MOF will facilitate meetings of consultants with relevant government agencies and experts. F. Qualification and experience requirements For the international consultant: PhD. in economics, development economics (specializations in finance, investment, public debt/management are assets) and/or related fields. Good knowledge and understanding of Viet Nam s development and challenges; good knowledge of Viet Nam s development finance strategies, legal frameworks and policies, practice and related institutional arrangements and mechanisms (of budgeting, planning, mobilization, utilization and management of resources at central and local levels) in general and ODA, Government borrowing and expenditures in particular. Good knowledge on international (especially in the East Asian/ASEAN regions as well as in countries that successfully graduated from ODA) experiences in development financing in general and in public debt management, ODA mobilization and management in particular. Good knowledge on global ODA systems and (multi-lateral and bi-lateral) institutions. Minimum 10 years of working experiences in conducting research (with good records of publication) and policy advising on development/development financing/economic management/debt management/oda in Viet Nam and other countries especially in developing countries, countries in East Asian/ASEAN regions. Strong skills in research design, development of analytical frameworks and providing technical guidance to research teams; Good skills in making analysis and research paper production, good command of writing and making presentations in English. For the national consultant-team leader: Master Degree (PhD preferred) in economics with specialization in development, development finance, and/or related fields. Good knowledge of Viet Nam s development finance strategies, policies and practice and related institutional arrangements and mechanisms (of budgeting, planning, mobilization, utilization and management of resources at central and local levels), Viet Nam s ODA and debt management legal/policy frameworks and practices; Good knowledge about available studies/assessments on development finance, debt/debt management and ODA topics, and data needed for conducting research on development financing/oda/debt topics. Minimum 5 years of working experiences in designing and conducting/leading research team in studies on development finance/oda/debt/debt management topics in Viet Nam, research experience on development finance topics in other countries/international comparison is an asset. Strong skills in leading and providing technical guidance to research teams; good skills in making analysis and research paper production, good command of writing and making presentations in English and Vietnamese. For both national consultants to support MPI in carrying out the task 1: Master Degree in economics with specialization in development, development finance, and/or related fields. Good knowledge of Viet Nam s development finance strategies, especially ODA legal frameworks and policies and practice and related institutional arrangements and mechanisms (for ODA planning, mobilization, utilization and management at central and local levels); Good knowledge about available studies/assessments on ODA mobilization/utilization and management (on debt/debt management is an asset), and especially the processes and criteria used for screening/prioritizing and appraising/approving ODA projects. Minimum 3 years of working experiences in designing and conducting/leading research team in studies on ODA topics in Viet Nam, experience in appraising/assessing ODA projects is a great asset. Strong skills in conducting research; good skills in making analysis and research paper production, good command of writing and making presentations in English and Vietnamese. 12

13 For both national consultants to support MPI in carrying out the task 2: Master Degree in economics with specialization in development, development finance, and/or related fields. Good knowledge of Viet Nam s development finance strategies, especially ODA legal frameworks and policies and practice and related institutional arrangements and mechanisms (for ODA planning, mobilization, utilization and management at central and local levels); Good knowledge about available studies/assessments on development finance, ODA mobilization/utilization and management (on debt/debt management is an asset), and data needed for conducting research on development financing/oda/debt topics. Minimum 3 years of working experiences in designing and conducting/leading research team in studies on development finance/oda topics in Viet Nam, research experience on development finance/oda topics in other countries/international comparison is an asset. Strong skills in conducting research; good skills in making analysis and research paper production, good command of writing and making presentations in English and Vietnamese. For both national consultants to support MOF in carrying out the task 3: Master Degree in economics with specialization in development, development finance, and/or related fields. Good knowledge of Viet Nam s development finance strategies, especially debt/debt management legal frameworks and policies and practice and related institutional arrangements and mechanisms (for debt planning, mobilization, utilization and debt management at central and local levels); Good knowledge about available studies/assessments on development finance, debt/debt management (on ODA mobilization/utilization and management is an asset), and data needed for conducting research on development financing/debt/debt management topics. Minimum 3 years of working experiences in designing and conducting/leading research team in studies on development finance/debt/debt management topics in Viet Nam, research experience on development finance/debt management topics in other countries/international comparison is an asset. Strong skills in conducting research; good skills in making analysis and research paper production, good command of writing and making presentations in English and Vietnamese. 13