Continuing to bring the Vietnam - WB cooperation relationship to a new height

Minister Nguyen Chi Dung andVice President for Infrastructure Makhtar Diop at the meeting.Photo: MPI

At the meeting, Vice President Makhtar Diop thanked Minister Nguyen Chi Dung for taking his time to welcome the delegation and congratulated on socio-economic development achievements of Vietnam. At the same time, he evaluated that in the context of a fluctuating world, Vietnam is still able to maintain high growth and stable macroeconomy, control inflation.

In the coming time, Vietnam should continue to focus investment on essential infrastructures, taking advantages of the Industrial Revolution 4.0, especially, continue to support further in attracting investment capital and implementing a number of pilot projects in the form of PPP in some localities, from that, replicating the deployment model to enhance private investment attraction in localities.

Vice President Makhtar Diop said that the WB will continue to support Vietnam in accelerating the progress of on-going projects, supporting infrastructure development, in particular, focusing on the development of urban infrastructure, transportation (highways, waterways) in accordance with the master plan of each region and locality of Vietnam, at the same time, supporting localities in attracting investment capital resources, especially investment projects in the form of public-private partnerships. Along with that, WB will support Vietnam in enhancing competitiveness, export growth, logistics development, etc.

Informing on matters that Vice President Makhtar Diop is interested in, Minister Nguyen Chi Dung says that Viet Nam has achieved significant results in the socio-economic development but maintaining the high growth in a long time is even more valuable. The economy of Vietnam has a very high degree of openness but the scale of the economy is still small and the competitiveness is still low. Besides, the impacts of climate change, the Industrial Revolution 4.0, the deepening and widening process of international economic integration, etc. are the challenges that Vietnam is facing. Meanwhile, the target of Vietnam is a fast and sustainable development.

Therefore, the Government of Vietnam determines to maintain macroeconomic stability, identify new driving forces to rapidly promote the development, enhance competitiveness and economic autonomy, along with that, focus on improving national competitiveness, take care of human and social issues, place people at the center to develop and all policies of Vietnam are for the happiness of the people.

Sharing on the success story of Vietnam in maintaining growth for middle countries, Minister Nguyen Chi Dung emphasized that Vietnam has achieved long strides with notable experience, achievements and is willing to share those with others countries. In 2018, Vietnam cooperated with the WB to successfully organize the Reform and Development Forum. The Forum is the first step, creating a development platform to become a reform and development forum of international and regional level, contributing to the prosperity and sustainable development of not only Vietnam but also the whole region, facilitating conditions for countries, including Vietnam to better promote their role in the international arena. Therefore, Minister Nguyen Chi Dung wishes that, in the coming years, the Forum will be organized with a larger scale so that Vietnam can share and learn international experiences.

Minister Nguyen Chi Dung said Vietnam is implementing the construction of development master plans of the country, territories, provinces and centrally-run cities and national sector plans as prescribed by the Law of Planning and wishes the WB to support Vietnam in this field, at the same time, support Vietnam in attracting investment capital resources in localities. "Vietnam wishes that the WB will continue to accompany and support Vietnam in terms of knowledge and resources in order to contribute to the successful implementation of the socio-economic development goals" Minister Nguyen Chi Dung emphasized.