Hanoi – on November 14, Prime Minister Pham Minh Chinh met with key figures from the World Bank (WB) and International Finance Corporation (IFC) to discuss potential support for Vietnam's large-scale infrastructure projects.
According to Vietnam News Agency, Chinh held talks with WB Regional Vice President for East Asia and Pacific Manuela V. Ferro, IFC Regional Vice President for Asia and the Pacific Riccardo Puliti, and IFC Vice President and Treasurer John Gandolfo.
The Prime Minister emphasized the crucial role of the WB and IFC as development partners in Vietnam. He highlighted their contributions to the nation's socio-economic development through policy advice, financial assistance for Official Development Assistance (ODA) projects, preferential loans, and private sector funding. Chinh proposed a renewed collaboration with these international institutions, emphasizing the need for new approaches on a larger scale and the enhancement of public-private partnerships. He specifically urged the WB to allocate funds with the lowest interest rates to vital and large-scale Vietnamese projects, focusing on areas such as transport, urban development, digital transformation, energy, and climate change response in the Mekong Delta.
Ferro, representing the WB, expressed the organization's continued commitment to supporting Vietnam in its ambition to become a developed, high-income country by 2045. She acknowledged the global challenges and the need for concerted efforts from both sides for the WB to continue aiding Vietnam's development. Ferro praised Vietnam's dedication to sustainable development and climate change adaptation, noting that the WB is working closely with Vietnamese ministries to identify key future collaboration projects, ensuring optimal interest rates for the government's prioritized sectors.
In discussions with the IFC leaders, Chinh requested ongoing resources and investments, particularly in establishing funds to develop the private sector in emerging and high-tech fields like semiconductors, clean energy, and electric vehicles. The IFC leaders affirmed their commitment to further support Vietnam, focusing on the growth of private enterprises and attracting top investors.