PM expects IFC to provide more support for private sector in VN

PM Nguyen Xuan Phuc (R) receives International Finance Corporation (IFC)'s Vice President for Asia and Pacific Nena Stoiljkovic, Ha Noi, April 11, 2018 - Photo: VGP/Quang Hieu

Viet Nam regards the private sector as a key sector, which has been manifested through the Party and Government’s guideline and policies, focusing on equality for the private sector and development of small and medium-sized enterprises to raise the contribution of the private sector to the nation’s GDP, he said. 

The Vietnamese Government considers the private sector as a key force for the socialist-oriented market economy, he asserted, adding that a number of meetings and dialogues have been organized to receive more comments from the private sector to complete mechanisms and polices. 

In the context of reduction and limit in preferential loans for Viet Nam, the Government encourages foreign investment in the private sector, he asserted, appraising the support of the IFC for Viet Nam to attract new resources, particularly ones related to the private sector. 

The PM advocated the IFC’s guideline to enhance cooperation with Vietnamese local authorities in infrastructure development, committing to facilitating IFC’s activities in Viet Nam. 

The Vietnamese Government is launching a national start-up program, he said, expressing his hope that the IFC will provide financial assistance for the program and other renewable energy development programs in Viet Nam. 

The host expected that the IFC will pour investment in Viet Nam’s banks in the upcoming time. 

Ms. Nena Stoiljkovic congratulated Viet Nam on its socio-economic development, especially stabilizing the macro-economy, expecting to enhance cooperation in the development of the private sector in the nation. 

The World Bank has launched a maximizing finance for development strategy, in which Viet Nam and Indonesia have been selected, she said, affirming that the IFC will support to establish development policy for the private sector in Viet Nam. 

The IFC has released a new strategy for opening and creating market and attracting foreign investment, she announced, adding that Viet Nam plays a crucial role in the strategy for setting up new sectors. 

She also highly valued the Vietnamese Government’s efforts in developing  the private sector. 

By Thuy Dung