WB Helps Vietnam Develop Strongly (29/11)
29/11/2011 - 13 Lượt xem
The Vietnamese Government spoke highly of WB-funded projects in Vietnam as they are effective and match Vietnamese socioeconomic development programs. The WB said that Vietnam was one of its biggest borrowers and one of the Association of Southeast Asian Nations (ASEAN) countries that have effectively used WB's preferential assistance capital. For years now, the WB has sent many teams to Vietnam to research on the macro economy and major areas needed in an open economy like Vietnam such as energy, transport, health and finance. Under the WB's coordination a donors meeting for Vietnam was held in France in November 1993 pledging US$1.8 billion for Vietnam to implement programs on national renovation and development. One year later, in 1994, the WB drew-up a Country Assistance Strategy (CAS) for Vietnam, including priorities to strengthen macro economic management, to shift to the market-led economy, to plan and develop infrastructure, and to implement the strategy on hunger eradication, poverty reduction and sustainable use of natural resources. Along with the CAS, the bilateral ties between the WB and Vietnam have changed from normal cooperation to a partnership.
By September 2011, the WB had provided US$13.8 billion for Vietnam to implement 117 programs and projects. Of this, about US$8 billion had been invested. WB-funded projects and programs focused on agriculture, water resources, energy, urban and rural infrastructure, transport, health, education and finance-banking. The programs and projects have contributed actively and effectively to upgrading economic infrastructure, developing social services, strengthening institutions, developing human resources, managing natural resources, eliminating hunger, and reducing poverty. The WB's support for Vietnam has brought about effective use. Several WB-financed projects have shown high efficiency such as projects to recover and develop the power sector, to upgrade the Hanoi-Vinh and Ho Chi Minh City-Can Tho sections of National Highway 1, to modernize the bank payment system, and to provide Poverty Reduction Support Credit (PRSC).
Apart from financial support, the WB's experts gave advice to the Vietnamese Government, regarding its policies, particularly those aimed to curb inflation, to stabilize the economy and to ensure social security in the context that the global economy is changing drastically. The WB has gotten together with the Vietnamese Ministry of Planning and Investment to establish a Partnership Group for Aid Effectiveness (PGAE), which is to harmonize Official Development Assistance (ODA) procedures and improve the efficiency and effectiveness of assistance capital. Through monthly meetings and many other activities, PGAE has proposed new ways to harmonize ODA procedures, to create unanimity in improving aid effectiveness, and to improve the ODA legal framework. The WB and other donors also helped the Vietnamese Government improve legal documents related to ODA such as the Bid Law, the decree on land compensation, resident removal, resettlement and ground clearance, and the regulations on organization and operation of ODA projects/programs authorities.
For now, Vietnam is trying to change the growth model and restructure the economy. To achieve these goals, the country needs a large amount of foreign capital, apart from the state budgets. Vietnam wanted the WB to continue support for implementation of the 2011-2015 Plan and the 2011-2020 Socioeconomic Development Strategy. The greatest efforts would be made (1) to improve the market economy institution to create a fair competition environment and reform administration, (2) to develop human resources, particularly high-quality manpower and (3) to build complete infrastructure focusing on transport and urban infrastructure.
The WB has played a role in raising and coordinating assistance capital for Vietnam and helping it become an industrialized country by 2020. Vietnam also expected other sources of the WB's preferential credit, which would be needed in the new stage of economic development. In the future the WB's ODA capital in particular and aid in general will continue to play an important role in helping Vietnam achieve the socioeconomic goals./.
Source: VEN.
