VN-Country Partnership Framework in 2017-2022 phase announced

Photo: VNA

Speaking at the ceremony, WB Country Director for Viet Nam Ousmane Dione said that in the implementation phase of the Viet Nam-Country partnership framework, the WB Group is coordinating with Viet Nam in consolidating its status as a middle-income nation and creating a foundation to become a high-income nation.

The WB will focus on supporting Viet Nam to realize reform measures to create strategic effects as well as mobilize all mechanisms to make strategic changes such as loans, policy dialogues, analysis, consultancy or guaranty.

Viet Nam has consistently made efforts in realizing fast and sustainable development goals in line with renewing growth model and restructuring the economy in way of enhancing effectiveness and competitiveness, thus, creating forces to implement tasks on social development, preserving the eco-system and heading to sustainable development, said Minister of Planning and Investment Nguyen Chi Dung.

Hailing the WB's close cooperation with the Vietnamese relevant agencies, the Minister expected that the Country partnership framework will realize the tasks and prospects of Viet Nam not only in the five-year period but also in the next decades, making Viet Nam become a high middle-income nation, inclusive development, focusing on human resources and intellectuals, the private sector, State management, sustainable development and environmental resistance.

The Viet Nam-Country Partnership Framework for the 2017-2022 period supports the implementation of tasks set for the nation’s five-year socio-economic development plan from 2016-2021.

Four key prioritized areas include inclusive development and participation of the private sector, investment in human and intellectual, sustainable environment and responding capacity and better management.

In the next period, the International Finance Corporation (IFC) will sponsor the Country Partnership Framework though investment and consultancy, mobilizing long-term capital resources for investment projects which bring huge socio-economic benefits and finance the development of the capital market and other private capital resources.

The IFC will attract foreign investment in key sectors such as finance, infrastructure, manufacturing industry and energy to increase competitiveness and boost the development of the private sector.

By Thuy Dung