New PM affirms continued cooperation with WB

Prime Minister Nguyen Xuan Phuc, who was sworn in on April 7, made the remarks at a reception for World Bank (WB) Country Director in Vietnam Victoria Kwakwa in Hanoi on April 9.

He said Vietnam appreciates the effective support and consultation of the WB in general and Country Director Victoria Kwakwa in particular, and regards the bank as a reliable partner and great friend of the country.

The Government leader suggested the two sides increase the exchange of information to improve collaboration efficiency.

For her part, Victoria Kwakwa congratulated Nguyen Xuan Phuc on his election as Prime Minister and the National Assembly approval of the new Cabinet members.

She affirmed that the WB attaches importance to its cooperative ties with Vietnam and hopes the new PM will work to elevate bilateral cooperation to a new height.

The official noted that the WB is keen to cooperate with the Vietnamese Government in coping with climate change, developing the private economic sector, and enhancing the Government’s accountability and anti-corruption capacity.

She expressed her deep concern over the ongoing severe drought and saltwater intrusion in the Central Highlands and Mekong Delta, saying the WB has been supporting Vietnam to deal with the issues in the short and middle terms so that the country can adapt more effectively to climate change and mitigate related damages.

Regarding the development of the private economic sector, Kwakwa advised the Vietnamese Government to step up institutional reform and create an equal playground for all types of businesses, thus helping them connect with global value chains, especially when the country is making negotiations as well as preparations for joining a number of big free trade agreements.

The WB is willing to provide financial and expertise support for Vietnam to develop its private economic sector, she added.