WB ready to help Vietnam with sustainable economic development
Vietnam should come up with solutions to bring benefits for short, mid and long-terms, helping the economy to develop stronger towards becoming a high-income country by 2045, said Global Director of the World Bank (WB) Group's Macroeconomics, Trade and Investment Global Practice Marcello de Moura Estevão Filho.
Politburo member, Chairman of the Central Theoretical Council and President of the Ho Chi Minh National Academy of Politics Nguyen Xuan Thang (right) and Global Director of the World Bank (WB) Group's Macroeconomics, Trade and Investment Global Practice Marcello de Moura Stevão Filho. (Photo: VNA)
Hanoi (VNA) – Vietnam should come up withsolutions to bring benefits for short, mid and long-terms, helping the economyto develop stronger towards becoming a high-income country by 2045, said GlobalDirector of the World Bank (WB) Group's Macroeconomics, Trade and InvestmentGlobal Practice Marcello de Moura Stevão Filho.
In a meeting in Hanoi on November 4 with Politburomember, Chairman of the Central Theoretical Council and President of the Ho ChiMinh National Academy of Politics Nguyen Xuan Thang, Filho said short-termsolutions to stabilise the economy at the moment could undermine long-termgoals.
According to the official, there are many ways todevelop a sustainable economy in a long term and Vietnam has taken properactions so far.
He said the WB is ready to work with the countryto build Vietnam Report 2045, adding that it will strive to seek necessaryresources to conduct the study in the coming time.
Thang said Vietnam advocates addressing immediateissues like culture, economy, politics, security and external affairs in orderto create a premise for dealing with long-term matters.
Ensuring security, welfare and health of people isalways the goal in every step and policy of Vietnam, he said, adding that itrequires huge resources to deal with both social and economic developmentissues.
Thang also stressed the need to protect a peacefulenvironment and achieve harmonious, sustainable development in a changing worldas inflation, natural disasters, floods and epidemics are affecting economicgrowth of many countries, including Vietnam./.
Vietnam’s economy is expected to grow by 7.2% in 2022, on the back of a strong rebound in domestic demand and continued solid performance by export-oriented manufacturing, according to the World Bank East Asia and Pacific Economic Update, October 2022.
Vietnam’s GDP grew by 13.7% year-on-year in the third quarter of this year and 8.9% over the first three quarters, according to a report released by the World Bank (WB) on October 20.
The World Bank believes that Vietnam needs to be careful with inflation risks related to food prices and basic commodities, although fuel prices have recently cooled down but still fluctuate unpredictably.
The programme to eliminate temporary and dilapidated houses has achieved notable results, with nearly 263,000 housing units addressed to date, including 225,000 houses inaugurated and 38,000 under construction. Thirty-eight provinces and cities across the nation have already fulfilled their targets.
Stronger efforts and determination are required to achieve and surpass the set targets, especially in the eradication of makeshift and dilapidated houses nationwide, the acceleration of public investment disbursement, and the implementation of nationally important transport projects, PM Pham Minh Chinh noted.
The trip will be made at the invitations of Chinese Premier Li Qiang and WEF President and CEO Børge Brende, according to an announcement from the Ministry of Foreign Affairs.
Long spoke highly of the dynamic, positive, and comprehensive development of Vietnam – Russia relations in recent years. He affirmed that the Vietnamese Party and State place great importance on further strengthening the comprehensive strategic partnership with Russia in a substantive and effective manner, in line with the development needs of both nations.
At the conference, participants reported that the Government has so far issued 28 decrees on the delegation of responsibilities and powers between the central Government and two-tier local administrations. Several localities have already piloted the new governance model.
Reality is the ultimate benchmark for success, he said, urging drafting agencies to work out policies that foster development, reduce bureaucratic hurdles, and respect practical conditions.
Under the official dispatch signed on June 20, ministers, heads of ministerial-level agencies, and chairpersons of provincial and municipal People’s Committees are requested to concentrate efforts on implementing core measures to ensure the smooth operations of the new administrative framework.
The Party chief underscored the need for the press to innovate relentlessly, evolve to keep pace with the country's development, transform into a truly professional, humanistic, and modern sector that serves the cause of the Party, the State, and the people on the path to national construction and development.
The UN Secretary-General praised Vietnam’s remarkable achievements in socio-economic development and international integration in recent years, noting that the country has emerged as a model in implementing the Sustainable Development Goals (SDGs), promoting international peace and security, and engaging in key UN processes.
Nghia affirmed that this is a milestone of special significance, affirming and honouring the the Vietnamese revolutionary press’s glorious tradition of 100 years of serving the revolutionary cause of the Party, serving the Fatherland, and serving the people.
The Party and State of Vietnam always attach great importance to and give top priority to the development of Vietnam–China relations. Vietnam is ready to work with the Chinese Party and State to further deepen the Comprehensive Strategic Cooperative Partnership and promote the building of the Vietnam-China community with a shared future that carries strategic significance.
Under the leadership of President Ho Chi Minh and the CPV, President Cuong said, the press has been a steadfast force on the ideological and cultural front, rallying the masses to pursue national aspirations.
NA Chairman Tran Thanh Man stressed the need to accelerate the application of artificial intelligence and smart teaching equipment, innovate teaching and assessment methods, and further improve the quality of formal education.
He also pledged that the NA will promote its ongoing supervision, making sure that every promise must lead to results, and every commitment must bring about real changes.
Minister of Industry and Trade Nguyen Hong Dien welcomed the proposals put forward by the US side and reiterated Vietnam’s request for consideration of key areas of interest, including reciprocal tariff policies and access for Vietnamese key export products to the US market.
Deputy PM Le Thanh Long proposed countries promote shared values, including building trust, sincerity, and solidarity among nations and peoples; fostering cooperation spirit and responsible behaviour as well as upholding international law and the UN Charter; and placing people at the centre and as the goal, the key player, and the driving force of all policies.
The show, together with a grand parade to be held silmutaneously at Ba Dinh Square in Hanoi, will celebrate the 80th anniversary of the August Revolution, the National Day, and the General Staff of the Vietnam People’s Army (VPA).
In particular, in April 2023, the two sides successfully carried out a joint operation that dismantled a major organised, transnational drug trafficking ring involving both Vietnamese and Cambodian suspects.
The Vietnamese Embassy in Israel is closely coordinating with relevant local agencies to stay informed and provide the utmost support possible for Vietnamese nationals.
Politburo member, Chairman of the Central Theoretical Council and President of the Ho Chi Minh National Academy of Politics Nguyen Xuan Thang (right) and Global Director of the World Bank (WB) Group's Macroeconomics, Trade and Investment Global Practice Marcello de Moura Stevão Filho. (Photo: VNA) 
