Secretary of the Hanoi Party Committee Vuong Dinh Hue (R) hosts Carolyn Turk, World Bank’s Country Director for Vietnam(Photo: VNA) He said that in the past five years, the city attracted 25 billion USD of foreign direct investment (FDI), with 4 billion USD in 2020 alone.
Towards the goal of a growth rate of 7.5 percent in the next five years, total development investment of the city is expected to expand 12 percent per year.
To this end, the city needs to call for more resources, including FDI and ODA and soft loans from international financial organizations, including the World Bank, he said, adding that Hanoi hopes for technical support and consultations in socio-economic development, social welfare, irrigation, urban management, traffic congestion settlement, and climate change response.
For her part, Turk showed her impression at the fast and strong growth of Hanoi. However, she said that the city is facing a number of problems, particularly river and lake pollution and poor air quality that need urgent settlement.
Over the years, the WB has assisted Hanoi in developing a Bus Rapid Transit (BRT) system, but the aid has yet to match the potential and aspiration of the WB.
She suggested four cooperation areas in the time to come, including developing an urban railway system, including Line 6 from Noi Bai to Ngoc Hoi, and researching a strategic vision in urban transport.
The WB hopes to share its experience in tackling water pollution and food safety, she said, adding that the bank is conducting research into sources of air pollution in Hanoi and neighbouring localities, and the research results will be shared with Hanoi.
Lauding the opinions of the WB representative, Hue said that Hanoi aims to diversify resources to implement major infrastructure system.
The city hopes to receive support from the bank in completing the pre-feasibility research for the urban railway line No.6. The city will consider the use of the bank’s loans for other urban railway projects, he said.
The city leader said that he hopes that the WB will coordinate with the city in organising conferences and talks to seek solutions to urgent matters of Hanoi.
The same day, Hue also had a meeting with Kyle Kelhofer, the International Finance Corporation (IFC)'s Country Manager for Vietnam to discuss cooperation orientations between Hanoi and the IFC in the future./.
VNA
