PM hails practical and effective partnership with IMF
VOV.VN - Prime Minister Pham Minh Chinh has applauded the practical and effective partnership between Vietnam and the International Monetary Fund (IMF), highlighting its value in policy consultations.
At a reception in Hanoi on June 21 for a delegation from the IMF’s Article IV Mission led by Paulo Medas, the Government leader laid stress on Vietnam's economic progress in the first half of this year despite global headwinds.
He said Vietnam remains steadfast in its goal of promoting growth while maintaining macro-economic stability, managing proactive, flexible and effective monetary policy in harmonious and close combination with reasonably expansive fiscal policy with specific focuses and targets.
According to him, Vietnam is pursuing three strategic breakthroughs in infrastructure, institutional frameworks, and quality human resources training, with a view to resolving development bottlenecks, lowering logistics costs, increasing the economy's competitiveness, and meeting workforce demand in the new era, especially in emerging sectors.
Acknowledging the Vietnamese Government’s economic management, particularly its handling of inflation and banking sector reforms, Medas encouraged greater efforts in improving governance, combating corruption, and attracting investment, especially in infrastructure and renewable energy.
Chinh agreed with Medas' suggestions, saying that Vietnam is strengthening new growth areas like the digital, circular, and knowledge economies alongside traditional growth drivers such as investment, exports and consumption. He also touched upon plans for increased public investment, particularly in transportation infrastructure, along with tax breaks and business incentives.
Showing confidence in achieving Vietnam's 2024 and 2021-2026 socio-economic development goals, Chinh proposed continued collaboration with the IMF in some areas, including updated global economic forecasts, policy advice, and technical support in economic and budget management, monetary policy, and human resource capacity building for global integration.
In response, Medas affirmed the IMF’s willingness to continue supporting Vietnam, and asked the Vietnamese Government to intensify coordination and consensus in policy making, particularly fiscal, monetary and investment policies.
