HANOI, March 24, 2017 – World Bank Chief Executive Officer Kristalina Georgieva concluded a three-day visit to Vietnam today, reaffirming the institution’s support to the fast-growing economy to continue implementing its sustainable and inclusive development agenda, including the areas of financing, structural reforms, energy, climate change and private sector development.
"Vietnam has achieved impressive economic growth in the last decade and we will continue to support Vietnam’s aspiration to be a modern and industrialized nation by 2035," said World Bank CEO Kristalina Georgieva. "Vietnam has significant opportunities to boost its economy and become more competitive by ensuring macroeconomic stability, pursuing reforms such as restructuring state-owned enterprises, strengthening the financial sector and supporting domestic private sector development."
On her first official visit to Vietnam, Georgieva met with Prime Minister Nguyen Xuan Phuc, as well as National Assembly Chairwoman Nguyen Thi Kim Ngan. In these meetings, Georgieva reiterated the World Bank’s strong commitment to support Vietnam’s economic and social development, and highlighted the importance of strong public investment to build the human capital which is essential for Vietnam’s long-term competitiveness.
“Enhancing investment efficiency and increasing opportunities for additional financial resources from the private sector is important, particularly given Vietnam’s fiscal constraints," said Georgieva.
Georgieva also met with development partners and representatives from civil society organizations to discuss ways to address Vietnam’s development challenges, including climate change and rapid urban growth.
On the energy sector, key to Vietnam’s future sustainable growth, she visited Trung Son Hydropower project and discussed with the Electricity of Vietnam support to the country’s effort to reduce carbon footprint through renewable energy and potential expansions on green investment.
In Ho Chi Minh City, she discussed with the city’s leadership how smart urbanization policies could transform it into a sustainable, livable city with a vibrant economy. Georgieva also met with the city’s business leaders to understand how the World Bank Group can better support private sector development in areas such as infrastructure development and improving the business climate. She also visited a World Bank-financed project in a low-income community in Ho Chi Minh City, where a revitalized, less-polluted canal and other infrastructure has helped create a better living environment and increase business activities for urban residents.
The World Bank’s current portfolio in Vietnam consists of 49 operations, worth a total of 9.5 billion USD supporting infrastructure, agriculture, human development and improvement in economic and financial sector management. Support to infrastructure includes transport, energy, water and sanitation, and irrigation.