Welcoming Martin Sommer in his new position as head of the IMF Article IV consultation mission for Vietnam and the IMF delegation, PM Chinh said he believes Sommer, who has long been involved in assessing Vietnam’s macroeconomic performance, will remain a sincere and trusted friend of Vietnam.

He thanked the IMF delegation for its serious and constructive work and for sharing assessments and policy recommendations with Vietnam, and acknowledged the IMF’s cooperative, candid and professional approach within the Article IV consultation framework and the recent mid-term assessment in Vietnam.

The Government leader informed the delegation of Vietnam’s situation and development direction in the coming period, as reaffirmed by Party General Secretary To Lam at the recent second plenum of the Party Central Committee.

The country is striving to achieve double-digit growth in the coming years to meet two centenary goals: becoming an upper middle-income developing country by 2030 and a high-income developed country by 2045.

He said that in the next period, Vietnam’s growth will not rely only on demand stimulus but will be based on sustainable foundations, including institutional improvement, science and technology, innovation, digital transformation, green transition, labour productivity and competitiveness. Vietnam aims for rapid growth while ensuring sustainability, with people benefiting from the outcomes.

Appreciating effective cooperation between the IMF and Vietnam,  PM Chinh said the Article IV mission’s assessments and recommendations have provided an important reference for Vietnam in formulating and implementing monetary and fiscal policies in a proactive and flexible manner, thereby maintaining macroeconomic stability and supporting growth.

For his part, Martin Sommer shared views on the impact of developments in the Middle East on the global economy, particularly in energy, fuel and trade.

He offered recommendations for Vietnam on maintaining macroeconomic stability, controlling inflation, ensuring financial and energy security, managing public, government and external debt, and conducting fiscal and monetary policy. He also suggested diversifying resources for development, removing bottlenecks in the economy and reforming administrative procedures to strengthen resilience to external shocks.

He glowingly spoke of Vietnam’s policy-making and economic management amid global fluctuations and expressed his satisfaction with the effective cooperation between Vietnam and the IMF. He affirmed that Vietnam is among the countries that have made effective use of IMF support, particularly policy advice, contributing to rapid and sustainable socio-economic development.

Thanking Sommer for his views and recommendations, PM Chinh further discussed issues raised by the IMF, including geopolitical and geoeconomic developments; solutions to maintain macroeconomic stability, promote growth, control inflation and ensure major economic balances, including energy security; and the management of fiscal and monetary policy in the context of global fluctuations. He also discussed resource mobilisation and the promotion of public-private partnerships in infrastructure projects.

Emphasising “listening with sincerity, sharing from the heart, and acting with results,” the host leader expressed his wish that the IMF further improve the quality of dialogue and policy consultation for Vietnam; share timely updates on global and regional economic assessments and forecasts; increase technical assistance, strengthen institutional capacity, modernise monetary and macroprudential policy frameworks, ensure the safety of the financial and banking system, develop capital markets, improve statistical systems and forecasting capacity, and support structural reforms to raise productivity.

He affirmed that Vietnamese Government agencies are ready to conduct in-depth exchanges, share information in accordance with regulations, and work with the IMF to develop assessments and recommendations suited to Vietnam’s conditions and development goals, contributing to peace, cooperation and development in the region and the world.

Vietnamese PM meets with leaders of RoK, Indonesia, New Zealand, IMF

Prime Minister Pham Minh Chinh had meetings with leaders of the Republic of Korea (RoK), Indonesia, New Zealand, and the International Momentary Fund (IMF) in Kuala Lumpur on October 27, on the sidelines of the 47th ASEAN Summit and Related Summits.

PM seeks IMF assistance for Vietnam’s strategic development goals

VOV.VN - Vietnam wishes to strengthen strategic cooperation with the International Monetary Fund (IMF) to mobilize resources, manage risks, and attract global investment, Prime Minister Pham Minh Chinh told Kenji Okamura, IMF Deputy Managing Director, at a meeting in Hanoi on September 18.