(MPI) - Deputy Minister of Planning and Investment Tran Quoc Phuong hosted a reception for World Bank (WB) Regional Vice President for East Asia and Pacific Manuela Ferro in Hanoi on November 10.

At the reception. Photo: MPI

Deputy Minister Phuong affirmed that the Ministry of Planning and Investment (MPI) considers the WB crucial development partner, which have supported and provided socio-economic development advice for Vietnam.

The Government of Vietnam is striving to remove difficulties and obstacles to unlock official development assistance (ODA) loans from foreign donors for the country’s socio-economic growth, he said, expressing his hope to receive further coordination from the WB to have cooperation activities with new approaches and effectively use ODA capital source.

Since Vietnam sets an economic growth target of 6% to 6.5% in 2024, the deputy minister looked forward to having support from development partners, including the WB, to continue implementing key investment programmes and promoting the country’s growth.

He proposed the WB provide new cooperation models to meet Vietnam’s needs, with priority given to larger scale projects in infrastructure, renewable energy and response to climate change to promote economic growth.

The deputy minister affirmed the MPI, as the national focal point for ODA mobilisation, will continue to create mechanisms and policies for ensuring the harmony in procedures and conditions for the use of development partners’ loans.

Highly agreeing with the deputy minister’ opinions, Ferro stated that the WB stands ready to assist Vietnam in achieving its goals of having rapid, sustainable development and response to climate change; and stressed the need of improving transportation infrastructure and continuing to implement projects in the sectors of energy transformation and Mekong Delta climate change response.

She said that the if the Vietnam Renewable Energy Accelerating Change (REACH) project is carried out, Vietnam will affirm its leading role in realising its commitment of achieving net-zero emissions and improving the national competitiveness in the future.

Ferro suggested Vietnamese sides to soon remove facing obstacles and difficulties of large-scale projects, and said the WB is committed to coordinate closely with Vietnam towards a rapid and sustainable development.

The two sides focused their discussion on major issues such as cooperation activities with new approaches to accelerate important and large-scale projects, infrastructure development, and priorities in supporting the poor and vulnerable culture, education, and healthcare./.

Bao Linh

Ministry of Planning and Investment