WB advocates increasing investment financing for HCMC

The conference, held on November 18 to summarize the nine months of operation of the joint HCMC-World Bank Working Group (HWG), gave an overview of the group's cooperation process over the past time.
WB advocates increasing investment financing for HCMC ảnh 1 Mr. Phan Van Mai and delegates at the meeting. (Photo: SGGP)
Speaking at the opening of the conference, Mr. Vo Van Hoan, Vice Chairman of the HCMC People's Committee, Head of the HCMC Working Group, said that the HWG had built a cooperation program between HCMC and the World Bank with 40 cooperation activities in the 2022-2025 period with a vision to 2030. To further promote the effectiveness of the HWG in the coming time, Mr. Vo Van Hoan made some proposals. Notably, they include the proposal to consolidate HWG and adjust the operational mechanism of HWG to suit the stage of implementation of specific activities and the proposal to assist HCMC in mobilizing resources and finding potential sponsors.

After the open discussion in HWG, Ms. Carolyn Turk, WB Country Director for Vietnam, emphasized the need to maintain the approach that HWG has agreed to pursue over the past time. In which, two activities - technical support and investment financing - are very important orientations in the cooperation program in the coming time. The WB is honored to have contributed to the joint working groups in the past nine months and is willing to support HCMC in the next period.

Speaking at the conference, Mr. Phan Van Mai, Chairman of the People's Committee of HCMC, thanked the members of the HWG and experts who have reported and expressed opinions, clarifying the results of cooperation over the past time. Mr. Phan Van Mai agreed that 40 cooperation contents, belonging to three groups of technical support, post-paid consulting services, and investment, proposed by HWG for the first phase would be researched and completed based on WB's technical assistance, the city’s budget, and socialization. HCMC would also propose the Government approve a resolution on a pilot mechanism for HCMC on the issue of carbon credits.

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