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Nov 02, 2021 / 22:18

Hanoi, WB enhances cooperation toward sustainable growth

Hanoi needs foreign investment, preferential loans, and official development assistance.

Hanoi's Party leader Dinh Tien Dung has called for further WB cooperation in the capital city’s priority fields towards sustainable development.

Dung was speaking at a meeting with World Bank Country Director for Vietnam Carolyn Turk in Hanoi today (Nov 2).

Hanoi's Party leader Dinh Tien Dung at the meeting.

He said Hanoi has set targets of becoming a green, cultural and modern capital while maintaining steady and sustainable growth and developing into a smart city that will be worthy of the City for Peace recognized by UNESCO.

However, challenges still remain in some areas, including sewage solution, air pollution, deficient infrastructure, building digital government, and historic sites preservation, among others.

To address these problems and achieve the goals, Dung stressed the role of institutions like the World Bank during its development process. “Hanoi needs foreign investment, preferential loans, and official development assistance,” he said.

The World Bank has so far financed 11 projects in Hanoi with a total value of US$269 million in various areas ranging from transportation, safe water supply to countryside infrastructure.

“Those projects have been basically completed and benefited local people,” Dung said.

 The meeting's participants take a group photo after the discussion.

At the meeting, Dung briefed the city’s development during the past time with GRDP growth in 2016-2020 at 7.3-9%. Despite severe impacts of the pandemic, the figure this year stands at 1.28% in comparison with the same period in 2020.

The city has vaccinated first jabs to more than 90% of adults. It is speeding up a vaccination program for children aged 6-12 in an effort to return life to normal as soon as possible, he said.

Dung also mentioned Decree No. 91/2021/ND-CP,  a newly-announced legal document on the coordination mechanism among Hanoi and its neighboring provinces and cities for the Hanoi Capital Region Master Plan, which is seen as a key legal framework for World Bank to conduct upcoming cooperation programs with the capital city.

Dung stressed the role of building consistent planning for the Hanoi Capital Region that is expected to be a momentum to promote the city’s socio-economic development in the future. He suggested creating a team with members from both sides to exchange and promote cooperation.

World Bank Country Director for Vietnam Carolyn Turk recognized Hanoi’s development achievements during the past time, highlighting the bank’s willingness to support the capital city in addressing its problems and realizing development targets. 

She also stressed that it’s time for the Hanoi government to solve these problems before they become bigger and more complicated.

Carolyn said Decree No.91 would be an important legal framework for future cooperation between Hanoi and World Bank in the time ahead and agreed with the idea of a joint team.

The two sides also discussed issues of mutual concerns, including urban planning, metro lines construction, and smart city, which are expected to be translated into specific plans towards sustainable development.