26th September at MOF, Minister of Finance Dinh Tien Dung had a meeting with Ms. Sandi Okoro - Vice President of the World Bank (WB) and Mr. Ousmane Dione - Country Director of WB in Vietnam.

While welcoming Ms. Sandi Okoro and the WB team to visit the Vietnamese Ministry of Finance, Minister Dinh Tien Dung thanked the WB for its cooperation and assistance, accompanying the Vietnamese Government and the Ministry of Finance and contributing significantly to the socio-economic development of Vietnam over the past time.

The Minister told that the World Bank has provided the Ministry of Finance with technical assistance to improve the capacity of public finance management, debt management and impact assessment in recent years. The Ministry of Finance pledged to implement the projects using the capital of the WB in a practical and effective way. The Minister hoped that the WB would continue to provide technical assistance and more experience sharing for Vietnam in general and the Ministry of Finance in particular in order to meet Vietnam's deeper integration requirements in the coming time.


Talking about issues related to the use of IBRD loans and mobilizing other resources into Vietnam's development, Minister Dinh Tien Dung said that the Vietnamese Government and the Ministry of Finance paid utmost attention to the efficiency of using capitals provided by international organizations, including the World Bank. According to the World Bank's recommendations, in the current context, Vietnam should tighten control overspending and public debt management. On the other hand, Vietnam still needs huge capital to invest in development. Vietnam's current public debt is within the limit set by the National Assembly, as well as the past difficulties in public debt and foreign debt, loan terms and rates have been basically settled.

For her part, Vice President Sandi Okoro congratulated Vietnam on its achievements in economic development during the past time as well as in important reforms that the Government of Vietnam was implementing. Ms. Sandi Okoro appreciated the close relationship between WB and Vietnam and affirmed that the World Bank pledged to continue supporting the Government of Vietnam in its economic, fiscal and public debt management reforms

She also told that said that the WB was adopting a new approach to mobilizing capital for Vietnam, particularly in the field of infrastructure development and energy, therefore, Ms. Sandi Okoro wished to share the results with Vietnam in applying this approach.

At the end of the meeting, Minister Dinh Tien Dung emphasized that in the coming time, the demand for mobilizing resources for development investment of Vietnam would be very huge, but the issue of state budget management was also very essential,thus the criteria should be closely monitored. Appreciating WB has accompanied the Government and the Ministry of Finance of Vietnam in mobilizing resources for institutional reform, especially in the financial sector, Minister Dinh Tien Dung expected the WB to continue its support for Viet Nam to improve its institutions, budget management in an economical and efficient way, ensuring national security and safety in the context of in-depth international economic integration./.

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