(MPI) - Deputy Minister of Planning and Investment Tran Quoc Phuong welcomed a delegation of the International Monetary Fund (IMF)’s Article IV Mission led by Paulo Medas on November 22.

At the reception. Photo: MPI

Deputy Phuong highly appreciated IMF’s forecasts and policy advice regarding the economic situation of Vietnam in 2024, and the outlook and risks for 2025, as well as the team’s recommendations for Vietnam in the coming time. The IMF's assessments are an important source for the Vietnamese Government in formulating macroeconomic management policies.

Discussing outstanding results and major orientations of Vietnam in socio-economic development, especially in public investment and attracting foreign direct investment (FDI), the deputy minister said that Vietnam is striving to resolve difficulties and obstacles, building an open institutional framework, and develop the capital and financial market; at the same time, the country continues to restructure the economy towards fast and sustainable growth based on science, technology, innovation, and promoting three strategic breakthroughs.

The deputy minister also shared some orientations in attracting investment in the areas of new technology sectors, semiconductor chips, artificial intelligence (AI), and environmentally friendly projects. He affirmed that Vietnam will create an increasingly favorable and transparent investment environment with more harmonious policies that adhere to international practices.

The official also appreciated the substantive and close cooperation between the Ministry of Planning and Investment (MPI) and the IMF in the past, including the important recommendations of the Article IV mission for Vietnam, asking the IMF to continue accompanying, maintaining dialogues, and providing consultations on macroeconomic policies in the future.

For his part, Medas said that the IMF is impressed with Vietnam’s economic growth rate and achievements in exports, and FDI promotion recently.

He also praised the effective policy management of the Vietnamese Government, especially in maintaining stable inflation and timely fiscal policies, creating a solid foundation for Vietnam's growth in the region.

Vietnam should continue to promote capital market reform and stock market development, increase productivity, maintain long-term growth, and strengthen the investment environment to facilitate investors, he said, pledged that the IMF would continue to assist Vietnam in sustainably developing its economic management policies./.

Bao Linh

Ministry of Planning and Investment