Mariam Sherman, World Bank Country Director for Vietnam, Laos, and Cambodia, said the World Bank remains committed to working with the Vietnamese government to develop the next phase of climate resilience and transformation for the Mekong Delta.
The World Bank will provide a 2.1 billion USD financing package for Indonesia, focusing oncreating jobs, stimulating economic growth, and enhancing access to clean energy across the country.
This event marks a major milestone in AgriS’s journey to optimise its Environmental and Social Management System (ESMS) in line with international practices and realise its Net Zero emissions goal by 2035.
The WB also urges Vietnam to build a professional and efficient civil service with improved pay and clear accountability, supported by institutions that ensure due process, transparency, and independent oversight.
Prime Minister Pham Minh Chinh met with Mariam J. Sherman, World Bank (WB) Country Director for Vietnam, Cambodia, and Laos, in Hanoi on May 15, calling for the WB’s support in large-scale infrastructure projects and strategic development goals.
After a gloomy period in 2023, Vietnam's economy has recovered impressively thanks to strong external demand, helping exports of goods and services increase by 15.5% in 2024, according to the World Bank.
As a trade-oriented economy, with imports and exports representing almost 170% of the GDP, Vietnam is particularly exposed to ongoing shifts in global trade policies. The US remains the largest export destination of Vietnam, accounting for 30% of its total exports, while China makes up 38% of its imports.
Minister of Construction Tran Hong Minh stated the Vietnamese Government always appreciates the World Bank’s long-standing support for the country’s socio-economic development and global integration, particularly in areas such as poverty alleviation, gender equality, and development in remote and disadvantaged regions.
Under the project, flood protection infrastructure has been improved, including embankments, tidal sluice gates, and pumping stations. Additionally, urban transport infrastructure has been developed under the project.
Vietnam is a pioneer in low-emission rice farming, she said, adding that many people around the world are eager to visit the country to learn from this model.
“Vietnam is projected to maintain robust economic growth over the next two years, but it can use its fiscal space to better prepare for heightened uncertainties”, said Mariam J. Sherman, World Bank Director for Vietnam, Cambodia and Laos at a press conference.
Vietnam’s roadmap for transitioning to electric vehicles (EVs) and decarbonising the transport sector should focus on five key pillars, including EV production, stimulating consumer demand, developing charging infrastructure, ensuring electricity supply, and training a highly skilled workforce, according to a report issued by the World Bank on November 22.
The World Bank has released a report, which explores how Vietnam can upgrade its participation in global value chains to become a high-income country by 2045.
Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son on November 20 received World Bank (WB) Vice President for East Asia and the Pacific Manuela V. Ferro who is paying a working visit to Vietnam.
A delegation of the World Bank (WB) led by Vice President for East Asia and the Pacific Manuela V. Ferro on November 19 paid a working visit to the Mekong Delta city of Can Tho during which they discussed with representatives of local authorites, sectors, businesses, and farmers related to low-emission rice production.
The diversification of global supply chains is creating significant opportunities for Vietnam to engage more deeply in international production networks. However, along with market expansion prospects, there are challenges posed by trade tensions, the reality of climate change accompanied by natural disasters, and the requirements for carbon emissions reduction, according to experts.
To achieve a high-income status by 2045, Vietnam needs to accelerate productivity growth as the workforce's contribution to growth is expected to decline and later turn negative because of the country’s population ageing, said Andrea Coppola, Lead Country Economist and Programme Leader for Equitable Growth, Finance and Institutions in Vietnam, Cambodia and Laos.
