Prime Minister Nguyen Xuan Phuc (R) shakes hands with Philippe Le Houerou, CEO of the International Finance Corporation

At the reception, PM Phuc praised the cooperation betweenVietnam and the IFC in terms of financial funding and advice on macroeconomicand financial policies.

He briefed his guest on the country’s current economicaffairs with stable growth, good macroeconomic indexes, and increasing foreigninvestment, adding that collaboration and support from the IFC and WB havecontributes to such achievements.

For his part, Houerou said Vietnam is a suitable partner forthe IFC to expand its cooperation with, highlighting an increase in IFCactivities in Vietnam recently as well as the significant potential for bilateralcollaboration in infrastructure.

The IFC can help Vietnam switch to clean energy, build powerlines, and boost the use of liquefied gas, the CEO said, adding that thecorporation wants to continue supporting the development of Vietnam’s small-and medium-sized enterprises. He hoped for assistance from the Vietnamese Governmentand the PM during such process.

Agreeing with Houerou, Phuc stressed the potential of theprivate sector in Vietnam. He said the sector can enjoy even strongerdevelopment with proactive support from the WB and IFC.

Pointing to the risk of energy shortage, particularlyelectricity, in the country, the Government leader asked the IFC to assistVietnam in developing renewable energy and upgrading overloaded power lines inkey areas.

He also called for help from the IFC for Vietnam inenvironmental development, energy, clean water, finance, and poverty alleviation.

The PM also took the occasion to invite the IFC manager toattend activities hosted by Vietnam as the Chair of ASEAN next year.

Concurring with his host, Le Houerou said that the IFC isstrengthening its financial and securities consultation for Vietnam and thecorporation is committed to working closely with Vietnamese ministries andsectors to tap the country’s growth potential.

IFC is the largest global development institution focused onthe private sector in developing countries. It has operated in Vietnam since1992.

Party official receives IFC, Google leaders

Nguyen Van Binh, Politburo member and head of the Party Central Committee’s Economic Commission, received CEO of the International Finance Corporation (IFC) Philippe Le Houérou, who is also Vice President of the World Bank, in Hanoi on August 15.

Binh, who is also Secretary of the Party Central Committee, said Vietnam highly values the IFC’s contributions to the country’s socio-economic development by supporting the private sector in such spheres as infrastructure, finance-banking, information technology, education and health under different forms.

Beside, the IFC has provided counseling services on financial access and helped Vietnam improve its investment environment and competitiveness, Binh added.

For his part, Houérou lauded Vietnam’s effective management policies in stabilising the macro economy, curbing inflation and promoting economic growth.

The IFC will continue to assist the country in perfecting its financial infrastructure and developing the capital market as well as renewable energy, he pledged.

The same day, Binh hosted a reception for Google Asia-Pacific President Scott Beaumont and Google Vice President for Public Policy and Government Relations for Asia-Pacific Ted Osius, who is also former US Ambassador to Vietnam.

He rejoiced at Google’s successful operation in Vietnam, suggesting the company open an official representative office in the country in order to join hands in dealing with relevant issues.

Speaking highly of the initiatives and programmes launched by Google in Vietnam, Binh said the Vietnamese Party and State always create the most favourable business environment for both domestic and foreign enterprises, including Google.

The official noted his hope that Google will observe Vietnamese law, ensure a safe and healthy service supply environment, and protect legitimate rights and interests of participating organisations and individuals.

Beaumont stressed that Google stands ready to help Vietnam participate in economic digitalisation, adding that the company aims to provide free-of-charge digital training for 500,000 owners of Vietnamese small-and medium-sized enterprises in order to help them improve competitive edge and seek business opportunities in the digital economy.