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.
Producing electronic components at the Republic of Korea's Bluecom Vina Co. Ltd in Trang Due Industrial Park, Hai Phong city (Photo: VNA)
HCM City (VNA)♐ - 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.
During an April 6 workshop on the growth quality and the role of the private sector in the national strategy of Vietnam in Ho Chi Minh City, Sebastian Eckardt from the WB also pointed to challenges that are arising.
He stated that Vietnam has had positive achievements in terms of GDP per capita reaching 5.5 percent from 1990 to 2014 on average, coupled with a sharp fall in the poverty rate and only a limited increase in gender inequality.
Vietnam is now aiming to grow at 6.5 percent in the 2015-2020 period and bring down its poverty rate, he said.
The country should narrow the gap between the rich and the poor, improve the living conditions of disadvantaged groups – particularly ethnic minorities, and reduce the environmental impacts resulting from fast growth, he added.
The WB expert also suggested Vietnam focus on equal growth and job creation, as well as sustainable management of the environment and natural resources.
The local Government also needs to develop infrastructure facilities and market institutions as well as focus on economic management, while tackling the impacts of climate change and modernising agriculture, he said.-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.
Vietnam has become one of the world’s great development success stories, rising from the ranks of the poorest countries, said Work Bank (WB) Group President Jim Yong Kim.
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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.
Producing electronic components at the Republic of Korea's Bluecom Vina Co. Ltd in Trang Due Industrial Park, Hai Phong city (Photo: VNA)
