State President Truong Tan Sang has requested the International Monetary Fund (IMF) continue its counseling and support to Vietnam in economic reform and high-quality workforce training, given that the country is facing a number of challenges, including how to avoid the “middle-income trap”.
From a centrally-planned economy, Vietnam has grown into a market economy and widely integrating into the world, with improved local livelihoods. However, the average income per capita in Vietnam is far behind from those in the region, he told IMF Deputy Managing Director Mitsuhiro Furusawa in Hanoi on June 11.
He added that as a world financial group, IMF has been standing side by side with Vietnam during the economic renovation process, acting as a major sponsor and advisor of socio-economic projects in the country.
Furusuwa congratulated Vietnam on its socio-economic progresses, including fulfilling the United Nations millennium development goals ahead of schedule, sustaining macro-economic stability and improving local livelihoods, adding that this should keep going on to lay a groundwork for mid-term development.
Agreeing with the President that restructuring the economy is key to development, the guest said Vietnam should continue reshuffling banking sector and State-owned enterprises, considering it as a long-term strategy.
He also mentioned developed countries’ experience in macro-economic stability, including improving economic efficiency, governance and information transparency.
At the end of the meeting, he vowed to provide Vietnam with continued funding, human resources training and development policy counseling.-VNA
From a centrally-planned economy, Vietnam has grown into a market economy and widely integrating into the world, with improved local livelihoods. However, the average income per capita in Vietnam is far behind from those in the region, he told IMF Deputy Managing Director Mitsuhiro Furusawa in Hanoi on June 11.
He added that as a world financial group, IMF has been standing side by side with Vietnam during the economic renovation process, acting as a major sponsor and advisor of socio-economic projects in the country.
Furusuwa congratulated Vietnam on its socio-economic progresses, including fulfilling the United Nations millennium development goals ahead of schedule, sustaining macro-economic stability and improving local livelihoods, adding that this should keep going on to lay a groundwork for mid-term development.
Agreeing with the President that restructuring the economy is key to development, the guest said Vietnam should continue reshuffling banking sector and State-owned enterprises, considering it as a long-term strategy.
He also mentioned developed countries’ experience in macro-economic stability, including improving economic efficiency, governance and information transparency.
At the end of the meeting, he vowed to provide Vietnam with continued funding, human resources training and development policy counseling.-VNA
