Prime Minister asks WB to continue supporting Vietnam to 'get rich' and build strategic infrastructure

Prime Minister Pham Minh Chinh thanked the WB for its many supports and active and effective contributions to Vietnam's socio -economic development, especially in the fight against hunger and poverty reduction, and asked the WB to continue supporting Vietnam in the upcoming process of "getting rich" - Photo: VGP/Nhat Bac

At the meeting, Prime Minister Pham Minh Chinh highly appreciated the WB's correct and visionary decision in establishing the Regional Office; conveyed his regards, wished good health and hoped to welcome WB President Ajay Banga to visit Vietnam soon.

The Prime Minister emphasized that the Vietnamese Government always considers the WB an important, close and trustworthy partner, thanking the WB for its many supports and active and effective contributions to Vietnam's socio-economic development, especially in the fight against hunger and poverty reduction, and requested the WB to continue supporting Vietnam in the upcoming process of "getting rich".

The Prime Minister asked the WB to continue to promote its role as a leading development partner, share valuable international experience, provide policy advice, increase support for Vietnam to achieve strategic goals, implement the "strategic quartet", maintain macroeconomic stability, promote rapid and sustainable growth, develop green economy, digital economy, circular economy, improve competitiveness and resilience of the economy to external shocks.

Welcoming the World Bank's proposal to provide Vietnam with a loan of more than 11 billion USD over the next 5 years, the Prime Minister suggested focusing this capital on projects that are "changing the status and turning the situation around", while all parties should change the implementation method towards speed and cutting down on procedures.

The Prime Minister also requested the WB to provide support and capital for both the State and private sectors; with preferential and more competitive interest rates, more flexible and effective capital management models; focusing capital on priority areas, including: Infrastructure, especially large-scale transport projects; energy transition and renewable energy development; agricultural projects with positive impacts on the environment, climate change adaptation, such as the low-emission rice growing model that the two sides have cooperated to implement; projects in the Mekong Delta such as inland waterway transport, etc.

In particular, the Prime Minister proposed that the World Bank provide capital support for Vietnam to implement the investment project to build the North-South high-speed railway, expected to start construction in 2026 with a total capital of about 67 billion USD.

The Prime Minister also asked the WB to provide support and capital for both the State and private sectors. In particular, the Prime Minister asked the WB to provide capital support for Vietnam to implement the investment project to build the North-South high-speed railway, expected to start construction in 2026 with a total capital of about 67 billion USD... - Photo: VGP/Nhat Bac

Emphasizing the need to select the right project, ensure effective implementation and debt repayment capacity, the Prime Minister requested the WB Regional Office to closely coordinate with the Ministry of Finance and the State Bank of Vietnam to study and propose solutions to cut down and simplify processes, procedures and regulations, thereby shortening the preparation time, submitting to competent authorities for approval, promptly handling and completing procedures for projects under negotiation.

The Prime Minister said that the National Assembly and the Government of Vietnam have been making drastic efforts to remove barriers and obstacles in terms of institutions and policies, especially to handle differences between domestic regulations and donor requirements, including amending Decree No. 114/2021/ND-CP on management and use of ODA capital and preferential loans from foreign donors, in the direction of maximum decentralization and delegation of power to localities, to be completed by June 2025 at the latest.

Along with that, Vietnam is implementing a revolution in organization, apparatus, arrangement of administrative boundaries, promoting decentralization, cutting procedures, strongly transforming from a passive state to proactively serving people and businesses; promoting the "strategic quartet" of science and technology, innovation, digital transformation, building and enforcing laws, developing the private economy, international integration; developing an international financial center...

For her part, Ms. Mariam J. Sherman conveyed the greetings and regards of the WB President to the Prime Minister and said that the WB President wanted to visit Vietnam soon; congratulated Vietnam on the 50th anniversary of the liberation of the South and national reunification, as well as Vietnam's recent socio-economic achievements.

She also highly appreciated Vietnam's new-era national development strategy with strong aspirations for development; Vietnam is on the path to becoming a developed, high-income country by 2045 and is currently carrying out a brave and bold revolution in institutional reform and streamlining the apparatus. The WB is ready to support Vietnam in this process, sending more experienced experts to Vietnam to participate in policy consulting, promoting cooperation and implementing projects quickly and with the highest efficiency.

Agreeing with the contents mentioned by the Prime Minister, which are also the contents that the WB is very interested in, Ms. Mariam J. Sherman agreed with the priorities of the Vietnamese Government, saying that she will report these opinions to the WB President, especially on strategic infrastructure development, support for the private sector, etc.

Also at the meeting, the Prime Minister, Ms. Mariam J. Sherman and leaders of Vietnamese ministries discussed solutions to promote the progress of a number of specific cooperation projects being implemented, with specific completion deadlines, including 3 transportation routes in the Mekong Delta region, sustainable fisheries development, etc.

The WB proposed to promote a strategic partnership between the two sides. The Prime Minister welcomed this proposal and suggested a contact mechanism between the Prime Minister and the WB President to promote increasingly practical and effective cooperation between the two sides.

Ha Van - Chinhphu.vn

Source: https://baochinhphu.vn/thu-tuong-de-nghi-wb-tiep-tuc-ho-tro-viet-nam-lam-giau-xay-dung-ha-tang-chien-luoc-102250515130039349.htm