Prime Minister Nguyen Xuan Phuc (right) receives WB Vice President Makhtar Diop during his visit to Vietnam (Photo: VNA)

Hanoi,  (VNA) – The World Bank group is committed to continuing to assist Vietnam in developing infrastructure, Makhtar Diop, WB Vice President for Infrastructure said in his first visit to Vietnam from February 20-22.

According to WB Vietnam, Diop said Vietnam’s rapid growth – at nearly 7.1 percent in 2018- - is requiring more investment in infrastructure. The WB estimated Vietnam’s needs for infrastructure investment will come to around 25 billion USD each year.

Such a great amount could not be met by only the public sector, the WB Vice President said, adding that improving the efficiency of public investment and creating suitable conditions to attract private investment are important factors to address challenges in infrastructure development.
                       
During the visit, Diop held fruitful discussions with leaders of the Vietnamese government, the National Assembly, ministries, agencies and local administrations, during which he reiterated the WB group’s commitment to helping Vietnam implement its infrastructure development agenda. He said the WB can provide Vietnam with expertise and international experience, while stressing that the favourable economic conditions in Vietnam at present provide good opportunities for accelerating reforms.
                       
The WB is ready to provide financial and technical assistance to Vietnam, as well as help the country mobilize resources from the private sector to develop important infrastructure facilities, Diop said. The WB has been supporting the Vietnamese Government in building an effective legal environment to attract the involvement of the private sector, including a comprehensive legal framework on public-private partnership, promoting the development of the domestic financial sector, and ensuring the effective operation of State-owned enterprises in infrastructure.

The WB Vice President also hailed Vietnam’s efforts in planning and prioritizing key national infrastructure projects such as highways, railways, inland waterways, urban transport, wastewater treatment, and inter-regional infrastructure serving economic development and addressing newly arising challenges including climate change.

During the visit, Diop met with leaders of Hanoi to discuss the city’s needs in infrastructure development, especially urban transport. He toured key infrastructure works in the northern port city of Hai Phong.-VNA