PM calls on WB, IFC to support Vietnam’s large-scale infrastructure projects
Prime Minister Pham Minh Chinh received World Bank (WB) Regional Vice President for East Asia and Pacific Manuela V. Ferro, International Finance Corporation (IFC) Regional Vice President for Asia and the Pacific Riccardo Puliti, and IFC Vice President and Treasurer John Gandolfo in Hanoi on November 14.
Prime Minister Pham Minh Chinh (R) and World Bank (WB) Regional Vice President for East Asia and Pacific Manuela V. Ferro (Photo: VNA)
Hanoi (VNA) - Prime Minister Pham Minh Chinh received World Bank (WB) Regional Vice President for East Asia and Pacific Manuela V. Ferro, International Finance Corporation (IFC) Regional Vice President for Asia and the Pacific Riccardo Puliti, and IFC Vice President and Treasurer John Gandolfo in Hanoi on November 14.
The PM affirmed that the Vietnamese Government considers the WB and IFC crucial development partners, which have supported and contributed to the nation’s socio-economic development through policy advice and financial assistance for ODA projects, preferential loans and loans for the private sector.
He proposed the sides refresh their cooperation activities with new approaches on a larger scale and enhancing public-private partnerships. Chinh recommended the WB focus its funds with the lowest interest rates on critical and large-scale projects in Vietnam, including those in the sectors of transport, urban development, digital transformation, energy and Mekong Delta climate change response.
For her part, Ferro affirmed that the WB will continue to accompany and assist Vietnam in achieving its goal of becoming a developed, high-income country by 2045. She underscored that, given the global challenges and difficulties, both sides need to exert greater efforts for the WB to continue contributing to Vietnam's development progress.
Highly agreeing with the PM’s opinions, she lauded the country’s commitments and efforts toward sustainable development and climate change adaptation. She told the host that the WB is actively coordinating with Vietnamese ministries and sectors to identify key projects for future collaboration, with best interest rates considered for the above-said areas highlighted by the Government leader.
Talking to IFC leaders, Chinh asked the IFC to continue to offer Vietnam resources and investments, particularly in setting up funds serving the development of the private sector in emerging and high-tech fields such as semiconductors, clean energy, and electric vehicles.
The IFC leaders said they are committed to further support Vietnam, especially in promoting its strong development of private enterprises and attraction of top investors./.
The Saigon-Hanoi Commercial Joint Stock Bank (SHB) has teamed up with the International Finance Corporation (IFC) to increase access to finance for small and medium enterprises (SMEs) in Vietnam.
The International Finance Corporation (IFC) estimates that Vietnam's climate investment opportunities will reach up to 757 billion USD by 2030, focusing on renewable energy, green construction, energy efficiency and transportation, said IFC's Regional Director for the Asia-Pacific Financial Institutions Group Allen Forlemu.
The Vietnamese Government always considers the World Bank (WB) a close friend and a significant development partner, Prime Minister Pham Minh Chinh told WB Country Director in Vietnam Carolyn Turk during a reception in Hanoi on October 27.
The World Bank (WB) has always been an important partner supporting the Vietnamese Government with financial policy consultations over the past time, Minister of Finance Ho Duc Phoc has said.
Deputy Prime Minister Bui Thanh Son has signed a decision establishing a Vietnamese sub-committee under the Joint Committee on Economic, Trade, and Investment Cooperation between the Vietnamese and Spanish Governments.
Young lawmakers must be remain true to revolutionary ideals, loyal to the Party, nation, and people, and to resist the temptations of personal gain or power. They must dare to think, dare to act, dare to innovate, and dare to take responsibility.
The National Assembly (NA) Standing Committee on June 24 afternoon approved in principle an ordinance amending and supplementing several provisions of six ordinances relating to the jurisdiction of the People’s Courts and relevant agencies.
Through many ups and downs of history, Cambodia-Vietnam relations have become increasingly closer and stronger. The ties are currently developing based on the motto of “Good neighborliness, traditional friendship, comprehensive cooperation, and long-term sustainability” from 2005 until today.
The resolution, covering seven articles, delineates clear criteria, principles, procedures, and responsibilities for resolving problems caused by legal regulations.
The newly adopted law stipulates that the people’s procuracy system comprises the Supreme People’s Procuracy; people’s procuracies at the provincial and municipal level; regional people’s procuracies; and military procuracies at all levels.
For 2025 and beyond, Vietnam and Mozambique have identified key cooperation priorities, including the continued implementation of existing frameworks and the expansion of ties into new areas such as renewable energy, construction, IT and digital transformation.
Permanent Deputy Minister of Foreign Affairs Nguyen Minh Vu stressed the need to enhance the performance of institutions established under the Convention, thereby reinforcing the role and vitality of UNCLOS, referred to as the “Constitution for the Oceans,” in maintaining maritime order, conserving and sustainably utilising marine resources, and contributing to global peace, stability, and sustainable development.
Regarding PM Chinh’s attendance at the WEF’s meeting in China for the third year in a row and Vietnam’s contributions to the forum, Ma said the Vietnamese leader has shared practical experiences and proposals on green economy aimed at facilitating trade and attracting foreign investment within the framework of the Regional Comprehensive Economic Partnership (RCEP); and offering fresh ideas for shaping strategies in economics, trade, and sustainable development.
In 2019, the Vietnamese association in PEI was established as a non-governmental organisation to support integration and development within the community. It has since organised a range of activities to maintain cultural identity, foster community cohesion, and strengthen ties with the homeland, while also contributing to the development of the host society.
Vietnam’s participation at the meeting underscores the country’s consistent foreign policy of independence, self-reliance, multilateralisation and diversification, and proactive international integration in a broad, deep, and effective manner. It also conveys Vietnam’s ambition and determination to enter a new era - the era of the nation’s rise.
The amended law will take effect on July 1, 2025, except for provisions on civil servant evaluation in Section 3, Chapter IV, which will be implemented from January 1, 2026.
Prime Minister Pham Minh Chinh’s participation at the 16th Annual Meeting of the New Champions of the World Economic Forum (WEF) in Tianjin, China, reflects the Vietnamese Party and Government’s strong commitment to the Vietnam–China comprehensive strategic cooperative partnership, while injecting fresh momentum into bilateral economic and trade cooperation amid a volatile global economic landscape.
A key amendment was made to Clause 2, Article 16, which now stipulates that a child born to one parent who is a Vietnamese citizen and the other a foreign national shall be granted Vietnamese nationality, if both parents agree to choose Vietnamese nationality for the child during birth registration with competent Vietnamese authorities
PM Chinh's participation demonstrates Vietnam's strong appreciation and support for China. This, in turn, contributes to further promoting the positive development of the Comprehensive Strategic Cooperative Partnership, aiming to build a Vietnam-China community with a shared future, which carries strategic significance.
Prime Minister Pham Minh Chinh (R) and World Bank (WB) Regional Vice President for East Asia and Pacific Manuela V. Ferro (Photo: VNA) 
