Washington (VNA) – The World Bank (WB) has always been an importantpartner supporting the Vietnamese Government with financial policyconsultations over the past time, Minister of Finance Ho Duc Phoc has said.
Meeting with its Managing Director of Operations Anna Bjerde on November13 (local time) on the sidelines of the 2023 APEC Finance Ministers’ Meeting inSan Francisco, Phoc said the Vietnamese Ministry of Finance expects further assistance from the WB through loans so that the country can developlarge projects on strategic infrastructure development, renewable energy, smartagriculture, greenhouse gas emissions reduction, climate change response in theMekong Delta region, and digital transformation.
For her part, Anna Bjerde affirmed the lender will continue its cooperation withVietnam within the new Country Partnership Framework between the WB Group andVietnam so as to promote fast growth and sustainable and comprehensivedevelopment in the Southeast Asian country.
Earlier, Phoc had bilateral meetings with Treasurerof Australia Jim Chalmers, Japanese State Minister of Finance Katsuo Yakura, andSingaporean Second Minister for Finance Indranee Rajah. He also attended and delivered aspeech at the 2023 APEC Finance Ministers’ Meeting on November 12 (local time).
He said that although Vietnam is a developing country with high demand forinvestment for socio-economic development, the bad debt has been maintained at a safe level.
At the 2023 APEC Finance Ministers’ Meeting in San Francisco. (Photo: haiquanonline.com.vn) As Vietnam is working to restructure budget spending towards reducing regularspending and enhancing investment for socio-economic infrastructure, it has sufficient fiscal space for the national strategic goals such asenergy transition in the coming years, Minister Phoc said.
With a view to stabilising the macro-economy,promoting the economic restructuring, and mobilising resources for quality economicgrowth, Vietnam will restructure budget collections in line with international practices, creatinga favourable and fair business climate to encourage investment, and regulatingrational incomes, he added./.
Meeting with its Managing Director of Operations Anna Bjerde on November13 (local time) on the sidelines of the 2023 APEC Finance Ministers’ Meeting inSan Francisco, Phoc said the Vietnamese Ministry of Finance expects further assistance from the WB through loans so that the country can developlarge projects on strategic infrastructure development, renewable energy, smartagriculture, greenhouse gas emissions reduction, climate change response in theMekong Delta region, and digital transformation.
For her part, Anna Bjerde affirmed the lender will continue its cooperation withVietnam within the new Country Partnership Framework between the WB Group andVietnam so as to promote fast growth and sustainable and comprehensivedevelopment in the Southeast Asian country.
Earlier, Phoc had bilateral meetings with Treasurerof Australia Jim Chalmers, Japanese State Minister of Finance Katsuo Yakura, andSingaporean Second Minister for Finance Indranee Rajah. He also attended and delivered aspeech at the 2023 APEC Finance Ministers’ Meeting on November 12 (local time).
He said that although Vietnam is a developing country with high demand forinvestment for socio-economic development, the bad debt has been maintained at a safe level.
At the 2023 APEC Finance Ministers’ Meeting in San Francisco. (Photo: haiquanonline.com.vn) With a view to stabilising the macro-economy,promoting the economic restructuring, and mobilising resources for quality economicgrowth, Vietnam will restructure budget collections in line with international practices, creatinga favourable and fair business climate to encourage investment, and regulatingrational incomes, he added./.
VNA
