WB provides financial and technical support for Vietnam
(VOV) - Deputy Prime Minister Nguyen Thien Nhan has spoken highly of the World Bank (WB)’s policy consultancy and human resource support for Vietnam in recent years.
At a reception in Hanoi on August 15 for Tunc Uyanik, a Regional Director for the Asia-Pacific on Finance and Private Development from the WB, Nhan expressed his hope that the WB will further provide financial and technical support for Vietnam to push through economic reform.
He proposed that the WB further support Nghi Son Economic Zone in Thanh Hoa province and consider a project to grow medical plants in 6 poor districts of Ha Giang province.
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Nhan emphasised that the Vietnamese Government has approved a WB funded project on innovations targeted towards low income people, which involves organisations, and businesses in the application of new technological solutions to make cheap products and provide essential services, such as health care, education and social communications.
For his part, Tunc Uyanick said he will do his utmost to support the Vietnamese Government in implementing its programs.
*** The same day, Tunc Uyanik met with Deputy Governor of the State Bank of Vietnam (SBV) Le Minh Hung who asked the WB to help build management mechanisms for the Vietnam Asset Management Company (VAMC) so that the company can operate effectively to handle bad debts.
Hung expressed his hope that the WB will help the SBV complete the legal framework and supervision mechanisms for the banking system to run safely and healthily.
Tunc appreciated the Government and SBV’s efforts to deal with bad debts and restructure the credit system. He considered the establishment of VAMC as a right solution and affirmed that the WB will further support Vietnam’s finance-banking sector.