(MPI Portal) – On March 27th, Minister of the Ministry of Planning and Investment (MPI) Bui Quang Vinh had a meeting with Mr. Axel Van Trotsenburg, World Bank (WB) Vice President. Attending the meeting, there were leaders and professionals of WB in Vietnam and representatives of related units of MPI.

Mr. Axel Van Trotsenburg, WB Vice President. Photo: Duc Trung (MPI Portal)

The World Bank (WB) was founded in 1944, headquartered in Washington, DC, has more than 9,000 employees working in over 100 offices worldwide. WB is an international organization composed of five agencies operating relatively independently of each other, including: International Development Association (IDA), International Bank for Reconstruction and Development (IBRD), International Finance Corporation (IFC), Multilateral Investment Guarantee Agency (MIGA), International Centre for Settlement of Investment Disputes (ICSID).

At the meeting, WB Vice President thanked the warm welcome of MPI, as well as expressed satisfaction on good cooperation relationship between Vietnam and WB and Vietnam’s progress in socio – economic development in the past time.

Mr. Axel van Trotsenburg said that Vietnam is the second beneficiary country in cooperation framework of the International Development Association (IDA). It indicated that WB recorded the results Vietnam achieved in the effective use of aid of IDA and IBRD. In the future, IDA fund will be reduced and IBRD loans will be increased, but total WB aid for Vietnam will not be less than the previous years.

Minister Bui Quang Vinh commended role of WB. The Minister said that activities of WB in Vietnam are very effective, not only coordinating with Vietnam in using loans effectively, but also playing chair role among development partners of Vietnam. The Minister committed to use the aid of WB more effectively by pushing ODA projects and balancing IDA, IBRD use in the next projects.

Minister Bui Quang Vinh also shared his views with WB Vice President about institution reform and restructuring public investment, which WB concerns in Vietnam. As for public investment, MPI built a scheme of reform in order to minimize waste and loss by investment of State-owned enterprises and arouse non-State resources.

Overview of the meeting. Photo: Duc Trung (MPI Portal)

Besides, the Minister and the Vice President also discussed and suggested some ideas for the transparency of State-owned enterprises’ information and limited banks’ bad debt. The two sides expressed satisfaction about the rich agenda today and hoped for more close and effective cooperation relationship in the future./.

Nguyen Huong

MPI Portal