Home Economy

VN seeks more World Bank aid

Jul 27th at 12:50
27-07-2012 12:50:11+07:00

VN seeks more World Bank aid

Viet Nam wants to receive technical and financial assistance from the World Bank, especially in settling bad debts among businesses.

Vietnamese Finance Minister Vuong Dinh Hue made the statement at a working session with Pamela Cox, visiting Vice President for East Asia and the Pacific region of the World Bank in Ha Noi yesterday.

Hue also suggested the bank extend Viet Nam's access to the International Development Association preferential loan facility, which is of importance to Viet Nam, especially at time when it is making efforts to reduce poverty in 63 of the poorest districts nationwide – and coping with climate change.

The Vietnamese Government was focusing on building new rural areas in line with sustainable development, he added.

He also asked the bank to assist the Government in its restructuring of State-owned businesses, including building a legal framework and policies regarding governance and supervision.

It also needs help in working out a draft law on the investment and trade of the State capital for submission to the National Assembly.

Cox said that to access International Development Association capital for a longer period, Viet Nam should learn from other countries on how to go about receiving loans from the International Bank for Restructuring and Development (IBRD) and other preferential loans.

The World Bank will discuss Viet Nam's situation with foreign donors next month to support the restructuring of State-run businesses.

vietnamnews

MOST READ

NEWS SAME CATEGORY

PM urges progress at international port
ECONOMY Jul 27th at 12:49

PM urges progress at international port

Prime Minister Nguyen Tan Dung has asked Hai Phong northern City's authorities and other agencies to make sure that work on Lach Huyen international port is...

Ministry struggles to revive economy
ECONOMY Jul 26th at 20:53

Ministry struggles to revive economy

Vu Huy Hoang, Minister of Industry and Trade, chaired a meeting in Ho Chi Minh City on Wednesday, to discuss and gather opinion on a draft project meant to resolve...

HCM City benefits from trade pact
ECONOMY Jul 26th at 12:54

HCM City benefits from trade pact

HCM City's bilateral trade with Australia and New Zealand has increased significantly, after more than two years of implementation of the ASEAN Australia New...

HCM City's FDI down in seven months
ECONOMY Jul 26th at 12:53

HCM City's FDI down in seven months

The southern economic hub attracted approximately US$820 million in foreign direct investment during the first seven months of this year, down by 57 per cent...

Businesses in Hai Phong sold at one dollar
ECONOMY Jul 26th at 11:53

Businesses in Hai Phong sold at one dollar

The commercial affairs in which some businesses in the northern sea city of Hai Phong were sold at 20,000 dong for each have raised big worries among the local...

July CPI hits eight-year record low
ECONOMY Jul 25th at 12:46

July CPI hits eight-year record low

Vietnam’s consumer price index (CPI) in July declined for the second consecutive month, falling 0.29 percent, recording the lowest level in the month since 2004...

In hard times, US investors still flock to Vietnam
ECONOMY Jul 25th at 12:44

In hard times, US investors still flock to Vietnam

The world economic crisis and the big difficulties in Vietnam both have led to the sharp falls of the foreign direct investment (FDI) from familiar sources...

Ninh Thuan seeks eco-investor
ECONOMY Jul 25th at 12:38

Ninh Thuan seeks eco-investor

Central Ninh Thuan Province's People's Committee has revoked an investment licence for South Korean MK International Corporation in a US$900 million ECC eco-urban...

CPI continues to dip, posts 2nd consecutive fall
ECONOMY Jul 24th at 13:29

CPI continues to dip, posts 2nd consecutive fall

Vietnam’s consumer price index (CPI) in July continued to post a negative growth rate of 0.29 percent, the second drop in a row, according to the General Statistics...

Chinese goods dislodged from Vietnam, Thai penetrating the market
ECONOMY Jul 24th at 13:18

Chinese goods dislodged from Vietnam, Thai penetrating the market

As Chinese goods have been “boycotted” by Vietnamese consumers for fear about the products’ safety, Thai goods have been penetrating the Vietnamese market.

Read More

MOST READ

Back To Top