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WB always contributes to Vietnam’s socio-economic development: PM

The World Bank (WB) is a very important development partner, which always supports and actively contributes to Vietnam’s socio-economic development, Prime Minister Pham Minh Chinh has said.

Welcoming visiting WB Regional Vice President for East Asia and the Pacific Victoria Kwakwa on June 28, PM Chinh appreciated the bank’s effective macro policy consultancy that conforms with the country’s development orientations and goals in different periods.

He thanked the WB for supporting Vietnam to delay quick repayment of IDA loans to have more resources for fighting COVID-19 and sustaining economic growth, and spoke highly of the bank’s initiative to back countries, including Vietnam, in the fight against the pandemic.

Kwakwa agreed to help Vietnam have equal access and negotiate contracts with COVID-19 vaccine producers in the world quickly and economically; give priority to providing financial sources for vaccine purchase and domestic vaccine production technology transfer; and promote the implementation of contracts signed with partners such as Pfizer and AstraZeneca to deliver vaccines to Vietnam as soon as possible.

The two sides discussed and reached consensus on the implementation of cooperation programmes and projects in the coming time to handle challenges, promote green growth, innovation, digital transformation and inclusive growth.

They also discussed solutions to maintain innovations and overcome limitations and shortcomings in the construction on ODA programmes and projects and in ODA disbursement in Vietnam.

PM Chinh mentioned some development orientations and proposed the WB to support and provide consultancy to perfect and promote the green growth strategy. He affirmed that Vietnam definitely does not exchange social progress and equality for economic growth alone.

Kwakwa said she was impressed by the achievements gained by Vietnam in carrying out the dual targets of pandemic prevention and control, and economic development.

She thanked the Vietnamese Government for working closely with the WB in implementing cooperation programmes over the past years and emphasized that it will continue to accompany the government.

The official also expressed her trust in PM Chinh’s views on the green growth strategy, pledging to give priority to supporting Vietnam in this field with specific cooperation projects and programmes, providing policy consultancy and helping the country develop the 2045 Report to achieve its set strategies and plans towards the goal of building Vietnam into a developed and high-income country by 2045./.