United Nations Resident Coordinator John Hendra said that the UN is ready to support Vietnam to meet the vision set out in the draft Socio-Economic Development Strategy (SEDS) and the Socio-Economic Development Plan (SEDP) for 2011-2020, ensuring that all Vietnamese people can benefit fully from the country’s continued progress.

Masat Miyazaki, Division chief of the International Monetary Fund’s Asia and Pacific Department, reaffirmed his institution’s commitment to providing Vietnam with sincere advice and support in the future.

As largest provider of aid and its second largest investor and trading partner, a representative from the European Union in Vietnam said that the EU will remain, throughout both the challenges and the successes, a firm and committed partner of Vietnam in its economic, social and political progress.

In addition, representatives from international organisations gave important recommendations to Vietnam. As recognised in the draft SEDP and SEDS, economic growth is necessary, but not sufficient to achieve balanced and inclusive development, John Hendra said.

Miyazaki said Vietnam needs to give priority to addressing emerging risks to its macroeconomic stability, further tighten monetary policy and lower its public debt-to-GDP ratio.

US Ambassador to Vietnam Michael W. Michalak applauded the Government’s priorities for “breakthrough” socio-economic progress, including improving infrastructure, human resources, and market-oriented mechanisms. Reform of the state sector is essential to improved productivity and efficiency of investment, he said.

In 2010, the US spent over US$184 million on economic reform, education, health and support for vulnerable groups, the the ambassador said.

Sharing the view, Japanese Ambassador to Vietnam Tanizaki Yasuaki said that mobilising capital from the private sector is a vital element for development and the Vietnamese Government needs to realise the Public-Private Partnership (PPP) model.He stressed Japan’s readiness to assist Vietnam in the PPP field.