Deputy Prime Minister Tran Luu Quang and World Bank (WB) Country Director in Vietnam Carolyn Turk - Photo: VGP/Hai Minh
At the meeting, the Vietnamese side proposed negotiating and signing a Framework Agreement with the WB to harmonize procedures between Vietnam and the WB, especially compensation policies, site clearance and complaint settlement mechanisms.
According to the Ministry of Planning and Investment , differences in compensation policies, site clearance and complaint settlement mechanisms between the two sides are the biggest barriers making it difficult for Vietnamese localities to approve investment projects.
Responding to Vietnam's proposal, Ms. Carolyn Turk affirmed that the WB is ready to work and coordinate with Vietnam to discuss this proposal in more detail.
Ms. Carolyn Turk, who will end her term in Vietnam to take over as WB Country Director for Indonesia and Timor Leste in early April, affirmed that WB President Ajay Banga "highly values" the relationship with Vietnam and considers Vietnam a "very important partner" of the WB.
Deputy Prime Minister Tran Luu Quang highly appreciated the WB in mobilizing resources to finance projects in Vietnam in recent times; suggested that the two sides continue to coordinate closely to remove difficulties and obstacles in implementing and completing projects using WB loans.
Deputy Prime Minister Tran Luu Quang suggested that the two sides continue to coordinate closely to remove difficulties and obstacles in implementing and completing projects using WB loans - Photo: VGP/Hai Minh
At the meeting, the two sides also reviewed the implementation of WB projects in Vietnam in recent times, especially since the establishment of the Working Group headed by Deputy Minister of Planning and Investment Tran Quoc Phuong on February 29, 2024, as well as preparations for the visit to Vietnam of WB President Ajay Banga scheduled for next week.
Since 1993, the WB has provided Vietnam with about 25 billion USD in preferential capital along with technical assistance and policy advice, actively contributing to Vietnam's socio-economic development./.
Source baochinhphu.vn
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