WB Regional Vice President lauds Vietnam’s socio-economic development

Vietnam has made great efforts and progress in socio-economic development over the past decades, WB Regional Vice President for East Asia and Pacific Manuela V. Ferro said at a meeting with National Assembly Chairman Vuong Dinh Hue in Hanoi on March 22.

She said complex developments forecast for the world in the next 30 years require longer and clearer visions, as well as national strategic orientations, pledging that the WB will provide technical consultations to help Vietnam make strategic decisions and policies.

For his part, Hue said the Vietnamese legislature has amended laws relating to the mobilisation of resources many times, including those on the supervision of the use of official development assistance (ODA).

The government and the NA have made great efforts to restructure public finance and debt, and gained positive results, he said, adding that the Vietnamese legislative body hopes to cooperate with the bank in this regard.

The top legislator also noted his hope that the bank will maintain its consultation mechanisms with Vietnamese ministries and agencies in seeking ways to raise the efficiency in using loans.

He called on the WB and other development partners to support Vietnam in consolidating its legal system, particularly institutions on economic development amid the Fourth Industrial Revolution and digital transformation.

Hue also asked for the bank’s technical and policy consultations in such fields as sustainable development, green growth and climate change adaptation, and in fullfilling the commitment to net-zero emissions by 2050 that Vietnam made at the 26th United Nations Climate Change Conference of the Parties (COP26).

NA agencies will organise the annual national economic forum to consult domestic and foreign scientists in policy making, he said, expressing a hope that WB will actively join the process.

Ferro emphasised that the WB hopes to enhance cooperation with the Vietnamese legislature in the time ahead, and that WB experts are ready to cooperate with the legislative body.

She said the bank is coordinating with Vietnamese agencies to build the Vietnam 2045 report. Therefore, it would like to exchange information with NA agencies.

Mentioning Vietnam’s commitment at the COP26, she affirmed that the WB will help Vietnam integrate the commitment into its development targets in a harmonious, practical and feasible manner.

The same day, the WB Regional Vice President had a meeting with Politburo member, President of the Ho Chi Minh National Academy of Politics (HCMA) and Chairman of the Central Theory Council Nguyen Xuan Thang.

At the meeting, she stressed that WB will continue its support to the Vietnamese government in development in the time ahead, expressing her impression of Vietnam’s development achievements.

The bank is willing to assist Vietnam in building the Vietnam 2045 report, thus helping the country fulfill the set strategies, plans and targets, especially in the mobilisation of social resources, infrastructure development, green growth, digital transformation and climate change response, an independent and self-reliant economy, and quick, sustainable and inclusive development, Ferro noted.

She also affirmed the bank’s readiness to cooperate and share experience with Vietnam in devising development orientations and policies.

For his part, Thang highlighted the bank’s contributions to Vietnam’s socio-economic development, as well as its assistance to the HCMA, saying international cooperation has helped to improve the capacity for training, scientific research and policy consultation of the academy’s lecturers and officials. /.

VNA