Party official applauds WB’s country partnership framework

Hanoi (VNA) – Chairman of the Party Central Committee’s Commission for Economic Affairs Nguyen Van Binh applauded the World Bank (WB)’s building of a Country Partnership Framework (CPF) for Vietnam for 2017-2022 while receiving WB Country Director for Vietnam Ousmane Dione on April 10.

At the meeting in Hanoi, Politburo member Binh valued the WB’s support to Vietnam to make great and firm strides in stabilising the macro-economy, maintaining the economic growth, developing the financial market, and enhancing integration into the region and the world.

He briefed his guest on the country’s economic situation, along with some major policies aimed to press ahead with reforming the growth model and improving growth quality, labour productivity, and the economy’s competitiveness.

The Vietnamese Party and Government pursues the goals of keeping macro-economic stability, increasing growth quality, and accelerating economic restructuring, he affirmed.

Binh said the strategic orientations in the WB’s CPF, which is a framework for bilateral cooperation, match the development orientations set up by the Vietnamese Party, State, and Government.

He asked the WB to include concrete support from other resources of the bank in the CPF. That will help Vietnam to adapt to the shortage of concessional loans during its graduation from the WB’s International Development Association (IDA), and to capitalise on that aid to promote poverty reduction and maintain socio-economic development achievements, especially in disadvantaged areas like the northwestern region.

For his part, WB Country Director Dione said he is impressed with the local socio-economic accomplishments in recent years.

He informed Binh about the basic content, prioritised focuses and the mode of implementation of the CPF, adding that the WB will increase cooperation with and assistance for Vietnam.

The same day in Hanoi, Binh received Ambassador Bruno Angelet, head of the European Union delegation to Vietnam. The two sides discussed economic and trade cooperation between Vietnam and the EU, and preparation for the ratification and enforcement of the EU-Vietnam Freed Trade Agreement (EVFTA).-VNA