• WB warns of increasing private debt in Vietnam

He was speaking at a seminar to discuss cooperative relations between Vietnam and the WB in Hanoi on November 4.

Since 1993, PM Dung noted, the international community has provided Vietnam with a total of US$64 billion in official development assistance (ODA) capital.

One fifth of the amount coming from the WB is focused on helping Vietnam devise policies in the period of transition to a full market economy, develop the infrastructure, reduce poverty, improve health care, protect the environment and adapt to climate change.

Most of the WB-funded projects have paid off, having a positive impact on Vietnam’s socio-economic development and international integration process, said Mr Dung. 

The PM expressed his wish that the WB would continue to support Vietnam in implementing the socio-economic development strategy for the 2011-2020 period by perfecting market-oriented institutions, creating a healthy competition environment, speeding up administrative reform, developing high quality human resources and improving infrastructure construction and transport in urban areas.

For his part, WB Vice President James Adams lauded the growing relations between the WB and Vietnam and pledged further support for socio-economic development in the country. He spoke highly of the Vietnamese Government’s efforts to stabilize the macro-economy and integrate its policies into programmes to ensure social welfare for poor people.

He said the WB will provide preferential loans and increase ODA funding for Vietnam with a view to developing infrastructure, reducing poverty and adapting to climate change.

In December, the WB management board will meet to consider the level of funding for Vietnam.