(MPI) – On October 6th 2017, at the headquarters of the MPI, Deputy Minister Nguyen The Phuong had a meeting with Mr. Felipe Carlos Jaramillo, Senior Director of the World Bank Group’s Macroeconomics and Fiscal Management Global Practice (MFM) to discuss programs and orientation of WB’s assistances for Vietnam on macroeconomic reform, fiscal management and restructure of the economy.
|Deputy Minister Nguyen The Phuong andSenior Director of the WB Felipe Carlos Jaramillo at the meeting. Photo: Duc Trung (MPI)
Speaking at the meeting, Deputy Minister Nguyen The Phuong assessed that the WB is a big donor of Vietnam. There are 50 projects in the list of WB’s loan worth US$ 10,357 million, of which US$ 3,234 million have been disbursed. Capital of the WB focuses on such major economic fields as infrastructural development, poverty reduction, social issues, macroeconomic reform… The WB also plays a role of coordination donor in Vietnam’s donor community on the above-mentioned fields. Specifically, the WB supported Vietnam to develop Vietnam 2035 Overview determining the development way of Vietnam up to 2035; Carried out the Economic Management Competitive Credit (EMCC), Poverty Reduction Support Credit (PRSC), Public Investment Reform (PIR), accompanied with Vietnam Government to build frame of the policy activities need to reform; Organized annual high-level dialogue forum, particularly VDF now to discuss the recommendations for Vietnam to build and improve institutions.
Vietnam has graduated IDA since July 1st 2017 but still wants to be assisted for its fast and sustainable development, avoiding the middle income trap. Deputy Minister Nguyen The Phuong asked the WB to collaborate with Vietnam deploying the recommendations set out in Vietnam 2035 Overview; Providing consultations on policy reforms on macro and fiscal management, and on the emerging development issues impacting on Vietnam’s development in the time coming such as public debt, overspending, fiscal management.
Senior Director of the WB Felipe Carlos Jaramillo highly appreciated the effort of Vietnam in the process of socio-economic development and becoming a middle income country. He also share some experiences of working in Government’s agencies in finance, planning, commerce in Colombia and lessons learnt while accompanying with developing countries to address issues related to fiscal and public debt management, economic crisis, mobilization and development of private sector…
At the meeting, the two sides highly appreciated the good relations between the WB and Vietnam in general and between WB Office and the MPI in particular, committed to strengthen the collaboration, enhance the efficiency of aids and contribute to the socio-economic development of Vietnam./.
Ministry of Planning and Investment