In the framework of the IMF/WBG 2019 Annual Meetings, which were held on October 16-19, 2019 in Washington D.C, the USA, Deputy Governor Dao Minh Tu of the State Bank of Vietnam (SBV) had meetings with Mr. Axel van Trotsenburg, the newly-appointed WB Managing Director of Operations, Ms. Victoria Kwakwa, WB’s Vice President for the East Asia and Pacific Region, Mr. Jindong Hua, WB’s Vice President and Treasurer, and Mr. S.Vijay Iyer, Vice President and COO at the Multilateral Investment Guarantee Agency (MIGA).
At the meetings, Deputy Governor Dao Minh Tu expressed his high appreciation for the WBG’s support to Vietnam, and hoped that the WBG would continue to provide valuable support and consultancy to the Government of Vietnam in general and the Government agencies in particular during the process of developing and implementing the socio-economic development plans, such as the development of the Country Partnership Framework (CPF), financing for programs, projects, providing technical assistance as well as policy consultancy and recommendations, and training human resources, especially supporting Vietnam to successfully graduate from the IDA ...
Deputy Governor Dao Minh Tu meets Ms. Victoria Kwakwa, WB’s Vice President for the East Asia and Pacific Region
In the framework of the Meetings, Deputy Governor Dao Minh Tu attended the General Meeting of Governors of the Southeast Asian Voting Group (SEAVG) and expressed his agreement with the substances presented and updated at the Meeting on: (i) WB’s financing activities in fiscal year 2019; (ii) common operations of the Group of countries, reviewing the equity capital; (iii) the implementation of a number of the WB’s initiatives for human resource development, initiatives of economic transformation and employment, development orientations for 2020 with the focus on promoting development through trade and global chain values; (iv) a number of policy issues related to lending limits for each country.
Deputy Governor Dao Minh Tu attends the General Meeting of Governors of the Southeast Asian Voting Group (SEAVG)
On this occasion, the SBV Deputy Governor also chaired a meeting with the WB’s officers in charge of activities, programs and projects on lending and technical assistance (TA) for Vietnam. Also attending the meeting were representatives from the SBV, the Government Office, the Ministry of Finance, and the Ministry of Planning and Investment. Deputy Governor Dao Minh Tu spoke highly of the WB’s initiative in organizing a workshop on Vietnam, which enabled both sides, especially the leaders/experts at the WB’s headquarters, who have little opportunity to work directly in Vietnam, to get updated, discuss and review the development orientations and plans, and possible cooperation activities in the future.
At the workshop, Deputy Governor Dao Minh Tu shared about Vietnam’s encouraging achievements in socio-economic development in general and economic growth in particular. The economic growth has been sustained at a relatively high level, averaging 6.8% in the recent years. The mobilization of resources for growth has been growing steadily; the economic structure has shifted in a positive direction; the people's living standards have been improved. However, in the context of fluctuations in the global market, it is necessary to change the growth model based on innovations, technological improvements, attracting the participation and resources of all economic sectors. The WB representatives expressed their commitment to accompany and actively support Vietnam in this process, helping Vietnam continue to achieve comprehensive and sustainable growth, avoiding falling into the middle income trap.
Regarding a number of the Government’s priority fields in the coming time, Vietnam would continue to focus on developing the transport infrastructure, smart cities, clean and renewable energy, and agricultural development; promoting innovation, technology transfers, education, healthcare and environment; and improving the climate resilience. The SBV Deputy Governor also shared about the Government's policy on promoting and encouraging the participation of the private sector in combination with commercial capital sources to invest in the national key projects through the Public-Private Partnerships such as PPP, BOT, BT, etc.
On this occasion, Deputy Governor Dao Minh Tu also informed about the SBV’s plan to coordinate with the WB Vietnam to celebrate the 25th anniversary of the resumption of credit relations and the establishment of the WB Country Office in Vietnam, which is expected to take place in the first week of December 2019. This is an important diplomatic and political event for both Vietnam and the WB, acknowledging the important and valuable support of the WB for the Government and the people of Vietnam throughout a long period of cooperation and development. The SBV Deputy Governor invited the WB’s leaders, officers and experts to Vietnam to attend this important event.
Le Hang