Vietnam seeks more support from WB

Vietnam wishes to receive more positive support from the World Bank (WB) in sharing experiences, consulting policies, and developing resources through socio-economic development projects, said Prime Minister Nguyen Tan Dung.

At a reception for WB Managing Director Sri Mulyani Indrawati in Hanoi on December 2, PM Dung thanked the WB for its assistance to Vietnam during its development process over the past years, especially in the context of the global economic downturn which has greatly affected the Vietnamese economy.

Thanks to the support and effective cooperation of the International community, including the WB, Vietnam has so far progressed in boosting socio-economic development, curbing inflation, stabilizing the macroeconomy, and ensuring social welfare.

Next year, Vietnam’s priorities will continue to be further controlling inflation, stabilizing the macroeconomy, ensuring social welfare and realizing economic growth targets in connection with social progress and justice, Mr. Dung noted.

The WB Managing Director praised Vietnam’s significant achievements in socio-economic development and national construction despite facing the global economic downturn. Vietnam is one of few developing countries to achieve remarkable successes in curbing inflation, stabilizing the macroeconomy, and ensuring social welfare, Mrs. Indrawati said.

The Vietnamese Government’s socio-economic targets for 2012 -- maintaining GDP growth equal to that of last year, controlling the inflation rate at a single digit, and effectively implementing social welfare policy, are important factors in helping the country continue to develop on a sustainable level in the near future, she noted.

Like other ASEAN nations whose economies greatly depend on exports, Vietnam will become more vulnerable in the face of the fluctuations of the world economy. Therefore, Mrs. Indrawati said, it is crucial for Vietnam to flexibly manage its financial and monetary policies and to restructure the national economy in order to maintain economic stability in 2012.

The WB is ready to support Vietnam in policy consultancy and human resources for the country’s development targets, she said.

PM Dung and Mrs. Indrawati also exchanged views on some specific issues related to the Vietnamese Government’s guidance and management of the monetary policy, credit and interest rates, business restructuring, public investment, the banking system, educational reform, human resources training,  socio-economic infrastructure development, and sustainable poverty reduction.

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