WB to help Vietnam realise high-income economy goal

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A senior official of the World Bank has reaffirmed the institution’s commitment to supporting Vietnam in realising its goals of becoming a high-income economy by 2045 and reaching net zero emissions by 2050.

“We are committed to work with Vietnam as it charts a renewed course towards ambitious development goals,” said WB VP for East Asia and Pacific Manuela V Ferro who recently concluded a five-day visit to Vietnam.

“Our partnership will focus on strategic areas that promote productivity-led, climate-resilient, inclusive growth, contributing the World Bank’s global and local expertise, embedded in evidence-based analysis and financing,” she said.

According to fibre2fashion.com, the World Bank and Vietnam are jointly producing a report that will offer pathways and solutions for Vietnam to realize its aspiration.

The world garment & fashion website cited a World Bank media release, saying the Vietnam 2045 report will take stock of the pace of reforms laid out in 2016’s Vietnam 2035 roadmap, analyse how Vietnam’s economic trajectory has been affected by the COVID-19 pandemic and other global mega-trends, and provide recommendations to inform policy reform discussions leading up to the fourteenth Party Congress, scheduled for early 2026.

The World Bank’s current portfolio in Vietnam consists of 33 operations, worth a total of US$5.72 billion focused on transforming livelihoods and increasing infrastructure’s resilience to climate risks, education, health care, transport, energy, water resource management, and urban resilience. Since its re-engagement in Vietnam in 1994, the bank has committed a total of more than US$25.3 billion towards financing Vietnam’s development.

VOV

For more information, please contact Vietnam Trade Office in Canada at Ca@moit.gov.vn