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Minister of Finance Ho Duc Phoc (L) shakes hands with WB Managing Director of Operations Anna Bjerde. (Photo: haiquanonline.com.vn) |
Meeting with its Managing Director of Operations Anna Bjerde on November 13 (local time) on the sidelines of the 2023 APEC Finance Ministers’ Meeting in San Francisco, Phoc said the Vietnamese Ministry of Finance expects further assistance from the WB through loans so that the country can develop large projects on strategic infrastructure development, renewable energy, smart agriculture, greenhouse gas emissions reduction, climate change response in the Mekong Delta region, and digital transformation.
For her part, Anna Bjerde affirmed the lender will continue its cooperation with Vietnam within the new Country Partnership Framework between the WB Group and Vietnam so as to promote fast growth and sustainable and comprehensive development in the Southeast Asian country.
Earlier, Phoc had bilateral meetings with Treasurer of Australia Jim Chalmers, Japanese State Minister of Finance Katsuo Yakura, and Singaporean Second Minister for Finance Indranee Rajah. He also attended and delivered a speech at the 2023 APEC Finance Ministers’ Meeting on November 12 (local time).
He said that although Vietnam is a developing country with high demand for investment for socio-economic development, the bad debt has been maintained at a safe level.
As Vietnam is working to restructure budget spending towards reducing regular spending and enhancing investment for socio-economic infrastructure, it has sufficient fiscal space for the national strategic goals such as energy transition in the coming years, Minister Phoc said.
With a view to stabilising the macro-economy, promoting the economic restructuring, and mobilising resources for quality economic growth, Vietnam will restructure budget collections in line with international practices, creating a favourable and fair business climate to encourage investment, and regulating rational incomes, he added.
