>>Macroeconomic instability remains a major challenge for Vietnam: WB

The mid-tem Consultative Group (CG) meeting opened in Ha Tinh province on June 9 to discuss socio-economic development in Vietnam, and review the implementation of aid commitments at the CG meeting last year as well as devising cooperative measures between the Vietnamese Government and donors to improve aid efficiency.

It will discuss a number of important issues, such as re-setting up and strengthening the macroeconomy, reviewing the implementation of the Government’s Resolution 11 in the financial and monetary field, transparency in fiscal and budget policies, and public investment efficiency. In addition, the International Monetary Fund (IMF)’s report and the Business Forum’s report will evaluate Vietnam’s investment environment.

World Bank Country director for Vietnam, Victoria Kwakwa said the meeting is of great significance to Vietnam as it has just become a low middle income country and is entering a special period. To achieve the status of a higher middle income country needs a major agenda, great efforts and important reforms. She added that future investment should conform to development priorities in the next five years, including infrastructure construction, human resource development and building of an institution for market economy.

On the sidelines of the meeting, there will be seminars on natural and man-made disasters, protection of poor people from macroeconomic disability, social influence on the poor and protection of small-and medium-sized enterprises.