Producing electronic components at the Republic of Korea's Bluecom Vina Co. Ltd in Trang Due Industrial Park, Hai Phong city (Photo: VNA)

HCM City (VNA) - Vietnam is a successful example in realising the strategic targets of the World Bank (WB) according to the bank’s Systematic Country Diagnostic (SCD), an expert has said.

During an April 6 workshop on the growth quality and the role of the private sector in the national strategy of Vietnam in Ho Chi Minh City, Sebastian Eckardt from the WB also pointed to challenges that are arising.

He stated that Vietnam has had positive achievements in terms of GDP per capita reaching 5.5 percent from 1990 to 2014 on average, coupled with a sharp fall in the poverty rate and only a limited increase in gender inequality.

Vietnam is now aiming to grow at 6.5 percent in the 2015-2020 period and bring down its poverty rate, he said.

The country should narrow the gap between the rich and the poor, improve the living conditions of disadvantaged groups – particularly ethnic minorities, and reduce the environmental impacts resulting from fast growth, he added.

The WB expert also suggested Vietnam focus on equal growth and job creation, as well as sustainable management of the environment and natural resources.

The local Government also needs to develop infrastructure facilities and market institutions as well as focus on economic management, while tackling the impacts of climate change and modernising agriculture, he said.-VNA