Prime Minister Nguyen Tan Dung spoke highly of the World Bank (WB)’ssupport for Vietnam in both policy consultation and technical andfinancial assistance, while receiving WB Country Director in VietnamVictoria Kwakwa in Hanoi on July 24.
In spite ofseveral positive achievements, the Government has yet to feel satisfiedand is fully aware of difficulties and challenges that need to beaddressed in the time ahead, he stated.
TheGovernment leader stressed the resolve to control public debt withinacceptable limit at below 65 percent as regulated to ensure its nationalfinancial safety and gradually reduce the rate after 2017. At the sametime, the Government will restructure public debt, reduce overspending,cut down regular expenditure, meet the date of payments and effectivelyuse loans.
New loans will be spent on buildingnecessary socio-economic infrastructure facilities while great effortswill be made to minimize wastefulness and corruption, he added.
The PM also informed his guest that the Vietnamese Government istaking drastic measures to speed up the equitisation of State-ownedenterprises (SOEs) as well as the restructuring of poorly-performingcommercial banks.
The government is also set to goon with reducing bad debt, he said, adding that the goal to bring baddebt to below 3 percent in September is quite feasible.
Another focus of the Government is to restructure the agriculturalsector, while continuing administrative procedure reform, improving thebusiness climate and increasing the economy’s competitiveness, he added.
He expressed his hope that Vietnam will gain accessto loans of the WB’s International Development Association (IDA), andreceive the bank’s help in making the Vietnam Report 2035.
Victoria Kwakwa, in turn, noted that Vietnam continued to record goodprogress in economic development, with stable macro economy and exchangerates.
She spoke highly of Vietnam’s efforts andpolicies to tighten fiscal spending, control public debt, address baddebt, renovate SOEs and restructure the banking and agriculturalsectors.
The WB is willing to provide officialdevelopment assistance (ODA) and IDA loans for Vietnam, as well assupporting and cooperating with the country in restructuring theagricultural sector, she stated.
She also affirmedher priority to cooperate with Vietnam’s ministries and sectors toprepare for the signing and implementation of credit agreements duringthe 17th term of the IDA, with around 1.5 billion USD already signed andanother 2 billion USD to be signed in the 2016 and 2017 fiscal years.
The bank is also making effort to complete and announce the Vietnam Report 2035 in the time ahead, she added.-VNA
In spite ofseveral positive achievements, the Government has yet to feel satisfiedand is fully aware of difficulties and challenges that need to beaddressed in the time ahead, he stated.
TheGovernment leader stressed the resolve to control public debt withinacceptable limit at below 65 percent as regulated to ensure its nationalfinancial safety and gradually reduce the rate after 2017. At the sametime, the Government will restructure public debt, reduce overspending,cut down regular expenditure, meet the date of payments and effectivelyuse loans.
New loans will be spent on buildingnecessary socio-economic infrastructure facilities while great effortswill be made to minimize wastefulness and corruption, he added.
The PM also informed his guest that the Vietnamese Government istaking drastic measures to speed up the equitisation of State-ownedenterprises (SOEs) as well as the restructuring of poorly-performingcommercial banks.
The government is also set to goon with reducing bad debt, he said, adding that the goal to bring baddebt to below 3 percent in September is quite feasible.
Another focus of the Government is to restructure the agriculturalsector, while continuing administrative procedure reform, improving thebusiness climate and increasing the economy’s competitiveness, he added.
He expressed his hope that Vietnam will gain accessto loans of the WB’s International Development Association (IDA), andreceive the bank’s help in making the Vietnam Report 2035.
Victoria Kwakwa, in turn, noted that Vietnam continued to record goodprogress in economic development, with stable macro economy and exchangerates.
She spoke highly of Vietnam’s efforts andpolicies to tighten fiscal spending, control public debt, address baddebt, renovate SOEs and restructure the banking and agriculturalsectors.
The WB is willing to provide officialdevelopment assistance (ODA) and IDA loans for Vietnam, as well assupporting and cooperating with the country in restructuring theagricultural sector, she stated.
She also affirmedher priority to cooperate with Vietnam’s ministries and sectors toprepare for the signing and implementation of credit agreements duringthe 17th term of the IDA, with around 1.5 billion USD already signed andanother 2 billion USD to be signed in the 2016 and 2017 fiscal years.
The bank is also making effort to complete and announce the Vietnam Report 2035 in the time ahead, she added.-VNA
