(MPI) - Deputy Minister of Planning and Investment Tran Quoc Phuong had a working session on March 22 with a delegation from the World Bank Group (WBG) in Vietnam to discuss the draft Vietnam Country Partnership Framework (CPF) for FY23-FY27.
 |
|
Delegation of the World Bank Group at the working session. Photo: MPI |
According to the CPF for the 2023-2027 period, main objectives focus on: (i) improved economic governance, skills and competitiveness, (ii) strengthened financial sector oversight and diversification, (iii) improved climate adaptation, especially in the Mekong Delta and other vulnerable geographies, (iv) greener investments and transition to a low-carbon economy, (v) increased access to better jobs through enhanced productivity and sustained growth, and (vi) sustainable livelihoods through adaptation to climate risks.
WB country director for Vietnam Carolyn Turk said, the WB has an effective partnership with the Government of Vietnam over the past 30 years, helping the country in policy reforms and loans. Vietnam has underscored remarkable results in economic growth and poverty reduction during the period.
The CPF provides a number of recent experiences and expected programme for financing to support Vietnam’s sustainable and comprehensive development pathway, towards the goals of being an upper middle-income country by 2030, a high-income country by 2045 and reaching net-zero emissions by 2050.
It also helps Vietnam address development challenges and priorities for institutional reform such as infrastructure cooperation, low-carbon agriculture, digital transformation, stability and development of financial market, competitiveness improvement, social inclusion, and strengthened economic governance.
Country Manager of the International Finance Corporation (IFC) in Vietnam Thomas Jacob said, IFC will pursue its engagement in greening and diversifying financial sector and improving competitiveness in manufacturing and processing industry, agriculture and service. IFC will prioritise to promote resilient infrastructure and Vietnam’s transition to clean energy, and support domestic businesses to modernise and participate deeply into the global value chain.
 |
|
Deputy Minister of Planning and Investment Tran Quoc Phuong speaks at the meeting. Photo: MPI |
For his part, Deputy Minister Phuong said that the Government of Vietnam has adopted the 2021-2025 plan on orientations for attracting, managing, and using official development assistance (ODA) and concessional loans from foreign donors.
ODA is prioritised for implementing important infrastructure projects, enhancing capacity, assisting policy and institutional building and reform, preventing, controlling and mitigating natural disaster risks and adapting to climate change, ensuring social welfare, and preparing for large-scale investment projects with spillover effects.
The deputy minister called on the WB to play pioneering role among development partners, provide policy consultation and financial solution, support low-carbon agriculture, infrastructure development, digital transformation, stability and development of financial sector, enhance Vietnam’s competitiveness and social inclusion, and improve economic governance.
He also asked the group to help Vietnam realise its ambitious goals of escaping the middle-income trap, maintaining macro-economic stability, fiscal and monetary policies, and supporting the private sector with referential lending interest rates.
The Ministry of Planning and Investment is committed to working closely with the WB and government ministries and agencies to materialise set targets, he continued./.
Bao Linh
Ministry of Planning and Investment