WB lends Vietnam 150 million USD to boost competitiveness
The World Bank has freshly approved a loan worth 150 million USD for Vietnam to improve local development policy related to economic management and competitiveness.
Illustrative Image (Source:VNA)Hanoi (VNA) – The World Bank has freshly approved a loan worth 150 million USD for Vietnam to improve local development policy related to economic management and competitiveness.
The loan provides flexible budget support for the Government while reinforcing selected structural reform priorities in its socio-economic development plan.
It aims to help the Government maintain macroeconomic stability, create a more transparent, efficient and accountable public sector, and improve the business climate.
In a press release on May 12, Achim Fock, the World Bank’s Acting Country Director for Vietnam, said: “During the last five years, there has been steady progress in advancing structural reforms in critical areas such as the banking sector, SOE management, and the business climate. These reforms need to be sustained during the implementation of the new five-year 2011-2016 plan to unlock Vietnam’s full growth potential."
The loan concludes a series of three focusing on boosting Vietnam’s development policy operation.
It is financed by the World Bank’s International Bank for Reconstruction and Development, the financing window for middle-income countries.-VNA
You should also see
Top 500 fastest growing enterprises 2024 announced
A ceremony to announce the list of the top 500 fastest growing enterprises in Vietnam (FAST500) and Top 5 and Top 10 real estate - construction - building materials companies in 2024 was held by the Vietnam Report JSC in collaboration with VietNamNet newspaper on April 25.
See more
Business
Petrovietnam posts 9-billion-USD revenue in Q1
The Vietnam National Oil and Gas Group (Petrovietnam) saw total estimated revenue of 231 trillion VND (9 billion USD) from production and business activities in the first quarter of 2024, exceeding the set quarterly plan by 33% and up 19% year-on-year, head a conference held by the group recently.
Business
Forum seeks to increase PPP investment effectiveness
Investment cooperation in the public-private partnership (PPP) form is seen as a strategic option to mobilise private investment and improve public service delivery. However, the implementation of PPP projects in Vietnam still faces a lot of difficulties and obstacles, leading to a low number of successful projects and making the private economic sector cautious.
Business
Remittance inflows expected to quench real estate sector’s thirst for capital: Experts
Amid a “thirst” for capital of real estate businesses, the strong inflow of remittances is expected to heat up the market again, held insiders.
Business
Dong Nai province ready to ride Japanese investment wave
The southern province of Dong Nai stands ready to prepare the best conditions to welcome investors, especially those from Japan, Secretary of the provincial Party Committee Nguyen Hong Linh said on April 24.
Business
Investor confidence gains traction on improved business climate
Better investment climate, with simplified administrative producers and special incentives, has helped improve investor confidence, thus catalysing investments from a wider pool of both domestic and international investors for socio-economic development.
