PM hosts WB Vice President for East Asia and Pacific

08:59 | 12/09/2018 Events

Prime Minister Nguyen Xuan Phuc hosted a reception in Hanoi on September 11 for Victoria Kwakwa, Regional Vice President for East Asia and Pacific of the World Bank (WB), who is visiting Vietnam to attend The World Economic Forum on ASEAN (WEF ASEAN) 2018.

PM Nguyen Xuan Phuc receives WB Regional Vice President for East Asia and Pacific, Victoria Kwakwa - Photo: VNA

At the reception, Prime Minister Nguyen Xuan Phuc welcomed Regional Vice President Kwakwa to the WEF ASEAN, saying that the WB’s participation would significantly contribute to the success of the event.

The PM emphasised that Vietnam appreciates WB support for Vietnam, not only through the provision of long-term loans but also in its policy advice to help the government improve macroeconomic management. The Government of Vietnam supports the WB’s policy to increase capital to support long-term financial resources for its members, he noted.

PM Phuc expressed his gratitude to the WB and to Kwakwa personally for calling assistance for Vietnam and urged the WB to continue its assistance to Vietnam in energy and transport development, and to help Vietnam build a roadmap for increasing the private sector’s investment in these areas, thus reducing the leadership role of the Government.

The Government leader also proposed that the WB continue its non-refundable aid for Vietnam in institutional reform, legal framework improvement and economic restructuring.

For her part, Kwakwa congratulated Vietnam on its recent socio-economic achievements, and said that Vietnam’s macro indicators have achieved positive results, such as growth, exports, foreign direct investment attraction and foreign exchange reserves.

Vietnam’s external position in the region and the world has been improved, she said, adding that Vietnam is likely to reach a growth rate of 6.8 pct in 2018, expressing her belief that Vietnam’s economic development will be stronger in the time to come. She also recommended that the Vietnamese Government roll out clear policies to help improve investor confidence and promote the stability of the country’s macro-economy.