Vietnam considers WB very important, reliable partner: Top legislator

The World Bank (WB) has always been a very important and reliable partner of Vietnam, affirmed National Assembly (NA) Chairman Vuong Dinh Hue while hosting WB Managing Director of Operations Axel van Trotsenburg in Hanoi on July 19.
Vietnam considers WB very important, reliable partner: Top legislator
National Assembly Chairman Vuong Dinh Hue (R) and WB Managing Director of Operations Axel van Trotsenburg. (Photo: VNA)

Saying the close cooperation between the two sides has reaped many achievements, van Trotsenburg stated that the WB wants to assist the country in building the Vietnam 2045 report.

With changes happening all over the world that affect Vietnam, this is the right time to research and consider ways to help Vietnam achieve its development goals by 2030 and 2045, as well as for the WB to help the country obtain the best results, he added.

Welcoming such assistance, the top legislator suggested the research process be conducted in phases to support and advise on specific issues for Vietnam’s realisation of its development goals by 2030 and 2045.

Regarding the global targets of net zero emissions, energy transition and climate change adaptation, Hue hoped that the WB, with its resources and responsibility, will have a voice, solutions and ways to aid countries without creating a larger gap between developed and developing nations.

In addition, the development of the capital market, the mobilisation of green bonds and green capital, and the formation of a carbon market are big issues that Vietnam would very much appreciate help from the WB and international partners in a bid to build institutions for the operation of an ecosystem on climate change adaptation and energy conversion.

Informing his guest that the NA is consulting with domestic and international experts from its initiatives network concerning the topic and content of the Vietnam Economic Forum 2022, Hue hoped the WB and van Trotsenburg himself will deliver proposals and advice on the matter, and attend the forum.

Currently, the WB and the Vietnamese Government are coordinating to develop a strategic framework for their collaboration in the 2023 - 2027 period.

The NA leader told the WB official that the framework still needs to focus on implementing Vietnam’s three strategic breakthroughs, including one on completing institutions.

Hue asked the WB to pay attention and give priority to supporting Vietnam in building "soft infrastructure", including financial and technical assistance for the improvement of institutions, policies and development ecosystems. For "hard infrastructure", he suggested the WB focus on consulting and assisting Vietnam in building inter-region key national projects, creating a driving force for regional growth and climate change adaptation.

The NA Chairman also welcomed the WB's many activities in support of the Mekong Delta region’s response to climate change and recommended that both structural and non-structural solutions be launched. For non-structural solutions, he hoped that the WB will have a greater voice in strengthening cooperation in the Mekong sub-region regarding water security issues, among others.

Agreeing with his host’s opinions and suggestions, van Trotsenburg affirmed that the WB is ready to offer support in areas that Vietnam needs to focus on and accelerate to realise its development goals by 2030.

He also highlighted the organisation’s willingness to discuss further with the NA and its agencies on policy options to effectively implement its sustainable development goals.

The WB wants to be an effective partner of Vietnam in the field of climate change response, the director added.

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(Source: VNA)