Deputy PM, WB Vice President hold talks

Deputy Prime Minister Vuong Dinh Hue at the event

The Deputy PM thanked the guest for promoting partnership with Viet Nam and supporting its macro-economic development policies.

Apart from policy consultation, the WB has provided Viet Nam with official development assistance and preferential loans worth nearly US$24 billion, about  US$18 billion of which have been disbursed.

He expressed wish to discuss with Goldberg about the strategic partnership between Viet Nam and the WB, priorities in socio-economic development strategy for the 2021 – 2025 period, the impact of the global economy on Viet Nam, especially amid the current U.S. – China trade tension.

As the size of the Vietnamese economy is small, and its involvement in the global economy is limited, it is necessary to improve competitiveness and move up in the global value chain, he said, adding that he wished to listen to the WB’s forecasts on the issue and acquire suggestions to help Vietnamese firms join the global value chain more deeply.

The host also sought the lender’s recommendations to issues regarding agriculture, rural development and farmers, urban and regional economic development, and regional economic coordination.

Goldberg, for her part, suggested that Viet Nam should export processed and high-value products as well as focus on technological innovation in order to further join the global value chain.

Another important point is reforming tertiary education and vocational training, with a focus on training soft skills for students and workers.

Both sides also looked into opportunities and challenges arising from the Fourth Industrial Revolution, policies to facilitate the private sector’s involvement in sci-tech development, and improving workers’ income. - VNA