WB asked to prioritise soft infrastructure development in Vietnam
Hue made the request at a reception in Hanoi on July 19 for World Bank Managing Director of Operations Axel van Trotsenburg who was in Vietnam for a visit.
He also proposed that the World Bank continue to support Vietnam in developing key inter-regional projects, creating a driving force for regional spillover and climate change adaptation.
Vietnam needs support and assistance from the World Bank and other international partners to develop its capital market, form a carbon market, and operate ecosystems on climate change adaptation and energy transition, said the chief legislator.
He recalled that at the recent 26th UN Conference on Climate Change (COP26) Vietnam made a strong commitment to bringing net emissions to zero by 2050, a level on a par with commitments by European countries. To achieve this goal, international support is needed in addition to Vietnam’s efforts, Hue said.
He welcomed the bank’s climate change response efforts in the Mekong Delta and said the bank should have a greater say in strengthening cooperation in the greater Mekong sub-region, including the water security issue.
For his part, van Trotsenburg expressed his elation at the close relationship and effective cooperation between the World Bank and Vietnam over the years. During the visit, he said he would like to explore future cooperation between the two sides, especially in the fields of responding to climate change in general and in the Mekong Delta in particular, implementing the COP26 commitment and coping with possible epidemics in the future.
The World Bank is ready to enter into in-depth discussions in terms of policymaking with the National Assembly of Vietnam and other relevant agencies in order to effectively implement the country’s sustainable development goals and especially climate change adaptation progrmmes, said van Trotsenburg.
The World Bank wishes to be an effective partner of Vietnam in the field of climate change response, he told his host.
Currently, he said the World Bank and the Government of Vietnam are also coordinating in developing a strategic framework for cooperation between the two sides for 2023 - 2027. The bank is also working closely with Vietnam to draft the Vietnam 2045 Report to address many changes taking place in the world and affecting Vietnam, and to help the country achieve its development goals by 2030 and 2045.
WB pledges continued support for Vietnam’s future development
The World Bank will continue to accompany the Government of Vietnam on its future development path to address strategic issues such as healthcare capacity, disease control and climate change adaptation, along with financial assistance.
World Bank Managing Director of Operations Axel van Trotsenburg made the commitment at a reception hosted by Vietnamese Prime Minister Pham Minh Chinh in Hanoi on July 18.
Van Trotsenburg highly appreciated Vietnam’s pandemic control and economic recovery efforts, saying that the World Bank has studied the Vietnam case, and that Vietnam can share its practical lessons with other countries, while contributing to solving many other global problems such as food security.
He acknowledged PM Chinh’s proposals, including the bank’s continued assistance to Vietnam’s green growth model, climate change adaptation, human resource training and energy conversion.
He suggested that the two sides work closely to review and update the National Strategic Partnership Framework for 2022 - 2025 in order to identify support resources and priority areas of the two sides.
The World Bank is ready to send a team of global experts and the World Bank Vietnam Office to support the Government in developing the Vietnam 2045 Report, aiming to build Vietnam into a developed and high-income country by 2045, he told PM Chinh.
Van Trotsenburg agreed with the Prime Minister’s view on the global approach that focuses on upholding international cooperation and multilateralism, in the spirit of sincerity, trust and efficiency, along with solutions tailored to each country’s characteristics to solve current emerging problems such as epidemics, climate change and non-traditional security issues.
For his part, PM Pham Minh Chinh expected that the World Bank would continue to support Vietnam in developing strategic infrastructure, promoting sustainable development, green growth, climate change combat, and especially in putting forward perfect policies to build an independent, self-reliant economy to withstand external shocks, while proactively integrating into the world.
He affirmed that Vietnam is responsibly and actively joining the international community in responding to climate change with an approach that ensures fairness and justice.
This is one of the key, urgent tasks and also an opportunity to transform the development model, and build an energy transition industry towards a green, sustainable, circular, and low carbon economy, he said.