National Assembly Chairwoman Vuong Dinh Hue receives World Bank Vice President

National Assembly Chairwoman Vuong Dinh Hue received Ms. Manuela V. Ferro, World Bank Vice President in charge of East Asia and Pacific region. (Source: VNA)

Congratulations to Ms. Manuela Ferro on her appointment to the position of Vice President of the World Bank in charge of East Asia and the Pacific, the National Assembly Chairwoman expressed her confidence, with leadership and management experience in many countries, with her leadership and management skills and experience. , the continent and her enthusiasm, in her new position, Ms. Manuela Ferro will continue to actively support the national development strategies of countries in the region, including Vietnam.

Thanking National Assembly Chairwoman Vuong Dinh Hue for taking the time to meet, Ms. Manuela Ferro said that over the past decades, Vietnam has made efforts and progress in socio-economic development; has entered a new phase, aiming to 2045, the 100th anniversary of the establishment of the country becoming a developed and high-income country.

Over the past 30 years, the world has witnessed the process of global integration and international trade growing and connecting with each other. That is the context that creates conditions for Vietnam to make great progress, Vietnam has also integrated with the world economy and has made great contributions, which is reflected in Vietnam’s proportion in the global economy. international trade increases. It is two-way reciprocity.

Ms. Manuela Ferro said that in the next 30 years, the context will be more complicated, now that the world is witnessing challenges such as the Covid-19 pandemic, changes in geopolitics, and international trade.

In that context, it is necessary to have a clearer and longer-term vision, which is urgently needed for leadership and national strategic orientation. The WB is committed to having the best input for technical support and advice as well as global information as a basis for Vietnam to make its strategic decisions.

The National Assembly Chairman said that when the National Assembly of Vietnam organized the “Vietnam Economic Forum 2021: Recovery and Sustainable Development” in December 2021 to have arguments when deciding on a monetary support package. for economic recovery and development, representatives of the World Bank participated and contributed to the success of this forum.

Sharing about Vietnam’s priorities, the National Assembly Chairwoman said that in the development process, Vietnam needs to mobilize large capital on the principle of self-reliance, considering domestic resources to be decisive, and external resources. is important.

In mobilizing resources, the National Assembly repeatedly adjusted and perfected relevant laws, and supervised the use of ODA capital. The Government and the National Assembly have made many efforts to restructure public finance and public debt, with many positive results.

At the meeting, the National Assembly Chairwoman and Ms. Manuela Ferro exchanged and shared views on the need to accelerate the implementation of WB-funded projects.

Saying that the National Assembly of Vietnam wishes to cooperate with the World Bank to continue restructuring public finance and public debt in a more and more sustainable direction, the National Assembly Chairwoman shared that the National Assembly, the Government and the people are always concerned about efficiency. results of budget use and public investment; assess the importance of transparency in bidding, enhance accountability… to increase the efficiency of capital use.

In the near future, the National Assembly will assign relevant agencies to strengthen supervision in this field; continue to strengthen and tighten discipline, financial discipline…; The WB hopes that the WB will continue to maintain the consultation mechanism between the WB and Vietnamese ministries and agencies, to review and find the causes and solutions to increase efficiency in the use of loans.

At the first extraordinary session, the National Assembly unanimously promulgated a Resolution on fiscal and monetary policies to support the program of socio-economic recovery and development with a scale of about VND 350,000 billion to actively in the prevention and control of the Covid-19 epidemic and timely support for socio-economic recovery and sustainable development.

To overcome the slow disbursement of ODA, the National Assembly also voted to pass the Law amending and supplementing a number of articles of the Law on Public Investment, the Law on Investment in the form of public-private partnership, the Law on Investment, and the Law on Investment. Housing, Law on Bidding, etc., in order to promptly remove difficulties and obstacles related to mechanisms, policies, processes and procedures to promote investment, support production and business, and accelerate capital disbursement. invest and implement decentralization and decentralization strongly.

In that spirit, the National Assembly Chairwoman hopes that the WB and other development partners will pay attention to support Vietnam in building and perfecting the legal system in general, especially the economic development institution in the current period. In the era of the industrial revolution 4.0, digital transformation is taking place strongly in the world.

The WB provides support, technical advice and policy advice, especially in key areas such as: Sustainable development, green growth, adaptation to climate change, and Vietnam’s commitment to reducing emissions. Greenhouses were strongly introduced at the last COP 26 Conference.

The National Assembly Chairwoman shared that agencies of the National Assembly of Vietnam will organize an annual National Economic Forum, gathering domestic and foreign scientists to listen to policy advice to the National Assembly; Emphasizing that the WB is a very reliable and important development partner of Vietnam, the National Assembly Chairwoman hopes the WB will actively participate in this process, from content, topics, to providing speakers to exchange experiences. international.

The National Assembly of Vietnam has also decided to form a network of National Assembly initiatives to bring together domestic and foreign experts, former National Assembly deputies, etc., and hope that the WB will support the establishment and cooperation in this field. Along with that, the agencies of the National Assembly wish to cooperate with financial institutions such as WB, IMF.

Ms. Manuela Ferro agreed with the President of the National Assembly and said that the WB wishes to continue to strengthen cooperation with the National Assembly of Vietnam in the coming time.

Assessing the recent successful Economic Forum held by the National Assembly of Vietnam, Ms. Manuela Ferro affirmed that the WB has a source of input experts ready to cooperate with the National Assembly of Vietnam. The successful forum shows that the National Assembly of Vietnam always plays an active role in making policies, decisions, draft laws… in the process of developing the country.

Assessing that the supervisory role of the National Assembly has been increasingly strengthened, especially in the field of public finance, Ms. Manuela Ferro shared that the WB is working with relevant Vietnamese agencies to develop the Vietnam 2045 Report. provide strategic direction for development. Therefore, the WB hopes to have many opportunities to exchange information with agencies of the National Assembly. The World Bank is working closely with the Government of Vietnam to implement the National Green Growth Strategy, the plan for economic recovery, and the transformation of energy sources.

Ms. Manuela Ferro assessed that Vietnam’s commitments made at COP26 are as important as the national development goals. The World Bank wishes to accompany Vietnam so that Vietnam can harmoniously combine these commitments with its development goals in a harmonious, practical and feasible direction.

National Assembly Chairwoman Vuong Dinh Hue agreed with Ms. Manuela Ferro’s opinion that, while funding is limited, it should be used for the right purposes in areas associated with technical and policy advice from the government. development partners; At the same time, he commended the WB for collaborating with Vietnam in developing the Vietnam 2045 Report, affirming that the National Assembly’s agencies are willing to participate, contributing to the report reaching the highest quality and practicality for Vietnam in the future. future research and policy making.