For Vietnam to realise its aspiration for reaching high income status by 2045, the country will need to shift its economic growth model and sharply improve the government’s capacity to coordinate and implement economic policy reforms and public investments, a World Bank Group report says.
The World Bank (WB) has forecast that Vietnam’s economic recovery is likely to accelerate in 2022 as GDP growth is expected to rise to 5.5 percent from 2.6 percent in the year just ended.
The Vietnamese Government and the World Bank have signed an agreement for financing of 221.5 million USD to support Vietnam’s post-pandemic recovery through policy reforms aimed at improving financial inclusion and spurring greater environmental resilience.
Minister of Agriculture and Rural Development Le Minh Hoan has pledged to tackle obstacles to two projects on food safety and hygiene, and sustainable fishery development, saying that they are urgent to Vietnam’s agriculture.
Vietnam has tremendous opportunities to attract foreign investment as global companies are seeking for a destination promising continuity, World Bank Country Director for Vietnam Carolyn Turk said during an interview with the Vietnam News Agency.
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