Vietnam appreciates WB’s support of SOE reform

January 17, 2013 | 08:47

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Deputy Prime Minister Vu Van Ninh met with the World Bank’s Country Director for Vietnam Victoria Kwakwa in Hanoi on January 16 to discuss the financial sector’s reformation, and the restructuring of State-owned enterprises (SOEs) in the country.

During the meeting, Ninh appreciated the WB’s past support to Vietnam in capital, technology and policy consultations, affirming that Vietnam always considers the WB as a long-term and important partner.

He stressed the importance of restructuring credit organisations and SOEs to the country’s economy, as well as Vietnam ’s determination to implement the process.

Kwakwa briefed her host on the results of the WB-funded credit programme to reduce poverty in Vietnam with a total investment of $150 million.

The WB Board of Directors is expected to officially approve a $250 million programme to support economic management and enhance the competitive capacity of Vietnam , she added.

She applauded Vietnam ’s commitment to reforming the financial sector and SOEs in 2013, expressing her continued support to the country during the process.

The two sides also discussed a wide range of issues, including mechanisms to increase the effectiveness of State management at businesses, the coordination among ministries and sectors in SOE management, as well as the role and operation model of State capital representatives in businesses.