WB lends Vietnam 150 million USD to boost competitiveness
The World Bank has freshly approved a loan worth 150 million USD for Vietnam to improve local development policy related to economic management and competitiveness.
Hanoi (VNA) –🌼 The World Bank has freshly approved a loan worth 150 million USD for Vietnam to improve local development policy related to economic management and competitiveness.
The loan provides flexible budget support for the Government while reinforcing selected structural reform priorities in its socio-economic development plan.
It aims to help the Government maintain macroeconomic stability, create a more transparent, efficient and accountable public sector, and improve the business climate.
In a press release on May 12, Achim Fock, the World Bank’s Acting Country Director for Vietnam, said: “During the last five years, there has been steady progress in advancing structural reforms in critical areas such as the banking sector, SOE management, and the business climate. These reforms need to be sustained during the implementation of the new five-year 2011-2016 plan to unlock Vietnam’s full growth potential."
The loan concludes a series of three focusing on boosting Vietnam’s development policy operation.
It is financed by the World Bank’s International Bank for Reconstruction and Development, the financing window for middle-income countries.-VNA
The World Bank is now embarking on a process to design its next strategy to support Vietnam in implementing the 2016-2020 socio-economic development programme and achieve the set objectives.
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.
Vietnam is a successful example in realising the strategic targets of the World Bank (WB) according to the bank’s Systematic Country Diagnostic (SCD), an expert has said.
Vietnam still enjoys strong growth prospects among the large developing ASEAN economies though its economic growth is expected to moderate to 6.2 percent in 2016, the World Bank (WB) says.
After drastic restructuring in the Vietnamese banking system, mergers and acquisitions (M&A) still need to be made by an additional 34 commercial banks.
The Board of Executive Directors of the World Bank (WB) has recently approved more than 500 million USD in support for improvements to road and bridge connections.
The Prime Minister has just approved the contents of a technical assistance project on consultation and analysis of public finance management in Vietnam.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Illustrative Image (Source:VNA)
