Hanoi (VNA) – Prime Minister Le Minh Hung on July 28 commended the International Monetary Fund (IMF) as a strategic policy advisory partner and a trusted companion in Vietnam’s socio-economic development process.
Receiving Jochen Schmittmann, outgoing IMF Regional Resident Representative for Cambodia, Laos and Vietnam, and Fazurin Jamaludin, who will assume the position of IMF Regional Resident Representative for Vietnam and Laos on August 23, PM Hung thanked Schmittmann for his contributions during his tenure, particularly in maintaining policy dialogue and facilitating training and capacity-building programmes. He also congratulated Schmittmann on his new assignment and Jamaludin on his appointment.
The PM said the third meeting of the 14th Communist Party of Vietnam Central Committee recently adopted a resolution on renewing Vietnam’s development model, marking a historic turning point that requires broad-based, far-reaching and structural reforms to lay a foundation for long-term development towards becoming a developing country with modern industry and upper-middle income by 2030, and a developed, high-income country by 2045.
Briefing the guests on Vietnam’s socio-economic situation and key policy orientations, PM Hung reaffirmed the Government’s consistent approach of promoting growth and maintaining macroeconomic stability and safeguarding the security and soundness of the financial and banking system.
Vietnam will strengthen fiscal discipline and develop its capital market to gradually reduce the economy’s dependence on bank credit, he said, stressing that the country will not sacrifice macroeconomic stability or financial and banking security for short-term, unsustainable growth.
The government leader also highlighted the National Assembly's upcoming session, during which numerous draft laws are expected to be considered and adopted to further improve institutions and build a transparent legal system aligned with international standards and practices. Such efforts are intended to enhance the safety and attractiveness of the investment and business environment while reinforcing the confidence of enterprises, investors and international partners in Vietnam’s stable and sustainable development prospects, he said.
PM Hung noted that the Vietnamese Government highly evaluates the IMF’s assessments and recommendations and considers them an important source of reference in policymaking and implementation.
He expressed his hope that, during Jamaludin’s tenure, the IMF Office will continue serving as an active and important bridge, helping strengthen substantive and effective cooperation, maintain regular policy dialogue and provide practical policy advice in support of Vietnam’s rapid and sustainable growth.
For his part, Schmittmann spoke highly of the strong cooperation between Vietnam and the IMF, noting that Vietnam has maintained impressive economic growth, responded effectively to external shocks and carried out significant reforms in areas crucial to long-term growth and development.
He commended Vietnam’s orientations, particularly its efforts to promote breakthroughs in science and technology, innovation and digital transformation, adding that the country still has room to further accelerate growth through a well-coordinated combination of fiscal, monetary and other policy measures.
The IMF fully supports Vietnam’s goal of achieving double-digit growth and will continue sharing assessments and policy recommendations, including those related to monetary, financial and banking issues, he said.
For his part, Jamaludin expressed his impression of Vietnam’s aspiration for double-digit growth, saying that the country is entering a new development phase with promising prospects.
He pledged to build on the positive results of IMF-Vietnam cooperation and affirmed the institution’s readiness to continue accompanying, cooperating with and supporting Vietnam in achieving its development goals and orientations./.
