Vietnam’s Minister of Planning and Investment Nguyen Chi Dung discussed with WB senior officials the preparations for Vietnam’s “graduation” from IDA capital sources during his visit to the US.
Washington D.C.(VNA)🀅 – Vietnam’s Minister of Planning and Investment Nguyen Chi Dung discussed with WB senior officials the preparations for Vietnam’s “graduation” from IDA capital sources during his visit to the US beginning September 6.
Dung held a working session with the World Bank (WB)’s Vice President of Development Finance Axel van Trotsenburg, WB Vice President for the East Asia and Pacific Region Victoria Kwakwa and WB Country Director in Vietnam Ousmane Dione, during the first day of the visit.
The Minister appreciated the WB’s provision of international development assistance (IDA) and policy assistance for Vietnam, noting that though Vietnam has become a lower middle-income country and will stop receiving IDA soon, the nation still needs more of WB’s capital for development.
He affirmed that the Vietnamese government will continue restructuring the economy, especially public investment, commercial banks and State-owned enterprises, while continuing to realise international commitments such as the 2030 Agenda for Sustainable Development and the Paris Agreement on Climate Change.
On Vietnam-WB cooperation, he suggested the WB assist Vietnam in devising a strategy to attract foreign direct investment, building a comprehensive master plan on regional development, as well as in the fields of technology transfer besides the traditional fields of health care, education and climate change.
Trotsenburd, for his part, pledged to work closely with Vietnam to ensure a smooth IDA graduation and improve the efficiency of using the WB-funded official development assistance.
According to him, a final decision on support for countries to be graduated from IDA will be made at a meeting slated for October.
On the occasion, Kwakwa introduced Minister Dung to the newly-appointed WB Country Director in Vietnam, who will begin his tenure in mid-September.
During a meeting with a WB team working on the Doing Business 2017 report, Dung shared the Vietnamese government’s priorities on developing the private sector, improving business climate and national competitiveness, supporting start-ups and boosting administrative reform.
At another session with the WB department for studies on global and regional economic prospects, Dung spoke highly of the result of the research project on economic prospects of the world and East Asia, including Vietnam.
He agreed with the WB’s viewpoint on challenges to the recovery of the world and regional economy, and asked the WB and experts to make policy recommendations to the Vietnamese government in the context./.
The World Bank’s Board of Governors approved additional funding of 45 million USD through the project ‘Improving the competitive capability and food safety’ in Vietnam on June 27.
The World Bank (WB) will support Vietnam in building a road map to smoothly shift preferential loans from the IDA to the IBRD to ensure the national budget’s sustainable payment capacity.
World Bank (WB) Vice President for East Asia and the Pacific Victoria Kwakwa pledged to continue promoting the cooperation between the lender and Vietnam.
The Ministry of Transport and the World Bank (WB) co-organised a seminar to review the completed Mekong Delta transport infrastructure development project (WB5) in Can Tho city on August 10.
The Party and State of Vietnam always attach great importance to and give top priority to the development of Vietnam–China relations. Vietnam is ready to work with the Chinese Party and State to further deepen the Comprehensive Strategic Cooperative Partnership and promote the building of the Vietnam-China community with a shared future that carries strategic significance.
Under the leadership of President Ho Chi Minh and the CPV, President Cuong said, the press has been a steadfast force on the ideological and cultural front, rallying the masses to pursue national aspirations.
NA Chairman Tran Thanh Man stressed the need to accelerate the application of artificial intelligence and smart teaching equipment, innovate teaching and assessment methods, and further improve the quality of formal education.
He also pledged that the NA will promote its ongoing supervision, making sure that every promise must lead to results, and every commitment must bring about real changes.
Minister of Industry and Trade Nguyen Hong Dien welcomed the proposals put forward by the US side and reiterated Vietnam’s request for consideration of key areas of interest, including reciprocal tariff policies and access for Vietnamese key export products to the US market.
Deputy PM Le Thanh Long proposed countries promote shared values, including building trust, sincerity, and solidarity among nations and peoples; fostering cooperation spirit and responsible behaviour as well as upholding international law and the UN Charter; and placing people at the centre and as the goal, the key player, and the driving force of all policies.
The show, together with a grand parade to be held silmutaneously at Ba Dinh Square in Hanoi, will celebrate the 80th anniversary of the August Revolution, the National Day, and the General Staff of the Vietnam People’s Army (VPA).
In particular, in April 2023, the two sides successfully carried out a joint operation that dismantled a major organised, transnational drug trafficking ring involving both Vietnamese and Cambodian suspects.
The Vietnamese Embassy in Israel is closely coordinating with relevant local agencies to stay informed and provide the utmost support possible for Vietnamese nationals.
The launch of Thanh Nien (Young People) newspaper in 1925, even before the founding of the Communist Party of Vietnam, is considered a testament to President Ho Chi Minh’s strategic foresight and strong belief in the guiding power of the revolutionary media.
New Zealand is currently one of Vietnam’s most important partners in the region, marked by a high level of political trust, strong and reliable defence and security cooperation, and increasingly open economic, trade, and investment ties.
Party General Secretary To Lam stressed that the Central Public Security Party Committee must be fully aware of the extremely important role of the People's Public Security force in the country's new revolutionary phase, so as to guide each branch and level of the force as the nation undergoes transformation.
Addressing concerns over university education spending, Son explained that as public universities gain greater autonomy, the Ministry of Finance has scaled back recurrent state funding. “Over the past decade, as autonomy has increased, the State's support has steadily declined”, he noted
Lao Minister of Foreign Affairs Thongsavanh Phomvihane affirmed that the presence of Vietnamese press offices in Laos vividly demonstrates the great friendship, special solidarity, and comprehensive cooperation between the two nations, as the press is not only a means of communication but also an important bridge for spreading consciousness about the history, values, and strategic depth of the Laos – Vietnam relationship to the people of both countries and the international community.
The country is willing to participate in collective efforts to promote cooperation and mobilise resources to advance the current priority issues of developing countries, such as trade, investment, infrastructure connectivity, making the most of scientific and technological advances for development, and people-to-people exchanges, Hang said.
During the negotiations, the US highly evaluated Vietnam’s goodwill and efforts, affirmed its appreciation for the bilateral relationship, acknowledged Vietnam’s proposals and concerns, and considered these an important basis for continuing discussions and moving towards a final agreement.
The Chairman stressed the need for stricter fiscal discipline, faster digital transformation, and more efficient management of State budget revenues and expenditures.
Illustrative image (Source: VNA)
