The Consultative Group (CG) for Vietnam, including Vietnamese Cabinet members and representatives from bilateral and multilateral donors to Vietnam, held its annual mid-term meeting in northern Sa Pa city on June 6.
High on the agenda were assessments of Vietnam’s socio-economic development situation, particularly the macro-economy, major adjustments to its development plans and impacts on the poor during the first half of 2008. Delegates also considered recommendations made from the June 4-5 business forum and a round-table on anti-corruption.
On the fringe of the meeting, Minister of Planning and Investment Vo Hong Phuc affirmed that curbing inflation is now Vietnam’s top priority in order to ensure a good business environment for investors. The Vietnamese Government wants donors and the business community to work together to help the country’s economy overcome the current difficulties and continue to develop.
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According to the WB, due to the high inflation rate and difficulties in the macro-economy, the disbursement of ODA in Vietnam in the first half of this year has only reached about 10 percent, much lower than the same period last year. | |
Sharing the Vietnamese Government’s concerns, the World Bank (WB) acting director in Vietnam, Martin Rama, said that measures introduced to control inflation in Vietnam are on the right track. If these measures are effectively implemented, Vietnam’s economic development will do much better in the six remaining months of the year, he added.
Earlier on June 5, some of the international donors inspected a number of foreign-funded development projects in Ta Phin and Thanh Kim communes in Lao Cai province.
They held the common view that official development assistance (ODA) has been effectively used in these localities.
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