NA chairwoman received WB Regional Vice President

By Anh Kiet

Jun 08, 2016 / 12:10 PM

On June 7 in Hanoi, National Assembly Chairwoman Nguyen Thi Kim Ngan hosted a reception for Ms.Victoria Kwakwa, the Regional Vice President for East Asia and Pacific.

National Assembly Chairwoman Nguyen Thi Kim Ngan and Regional Vice President for East Asia and Pacific Victoria Kwakwa

The Vietnamese official congratulated Ms. Victoria Kwakwa on her new position and hoped that the Regional Vice President will continue to make effort to support national development strategies in the region, including Vietnam. Chairwoman Nguyen Thi Kim Ngan asked for the World Bank’s support in policy consultation and called for further funding, which will help stabilise Vietnam’s macro-economy while addressing the country’s challenges.

The WB has backed Vietnam in building a road map to peter out preferential loans from the International Development Association (IDA) to protect and improve the country’s achievements, Ngan noted, adding that the National Assembly as the highest organ of state power is monitoring the efficient use of loans, especially IDA funding.

Ms. Ngan hailed the Viet Nam 2035 report which was jointly composed by the WB and Viet Nam. The report has made important contributions to setting long-term orientations for Viet Nam to early become an industrial country and reform the market-oriented mechanisms in line with Viet Nam’s circumstances. She revealed that the Viet Nam National Assembly in this April issued a Resolution on socio-economic development plan for the 2016-2020 tenure with top tasks on macro-economic stability, implementation of strategic breakthroughs, economic restructuring, transformation of growth model, social security, climate change response, and environmental protection.

Ngan also shared with her guest Vietnam’s socio-economic development strategy for 2016-2020, highlighting that Vietnam is giving priority to stabilising the macro-economy, strengthening the implementation of strategic breakthroughs and restructuring the economy together with renovating the growth model. Vietnam still faces a host of difficulties during international integration and economic development, especially the critical impacts of climate change and rising sea levels, she highlighted.

For her part, Victoria Kwakwa underscored that the WB treasures its working relationship with Vietnam, expressing her hope that the Vietnamese NA Chairwoman will continue her efforts to elevate the relations to a new height. Ms. Victoria Kwawa pledged to continue backing Viet Nam to realize the economic development strategy in the coming time.

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