Vietnam seeks the World Bank’s support in the development of soft infrastructure, including financial and technical assistance for refining legislation and ecosystems for growth.

Chairman of the National Assembly Vuong Dinh Hue and World Bank Managing Director of Operations Axel van Trotsenburg. Source: VNA

Chairman of the National Assembly Vuong Dinh Hue gave the remarks during a meeting with the World Bank Managing Director of Operations Axel van Trotsenburg on July 19.

According to Hue, the World Bank has been one of the key development partners for Vietnam and contributed a major part to its socio-economic development process.

Hue called for the World Bank, given its resource and responsibility, to support countries in realizing their global objectives while narrowing the development gaps between developing and advanced countries.

“The development of a capital market, mobilization of green bond and formation of carbon market are major issues that Vietnam is seeking the support from the World Bank and other development partners, eventually contributing to the country’s energy transition process and enhancing climate resilience capacity,” said Hue.

On this occasion, Hue welcomed World Bank’s support for Vietnam in drafting the Vietnam 2045 report, which would contribute to the country’s efforts in realizing the development objectives until 2030 and 2045.

Hue also noted Vietnam and World Bank’s cooperation in the coming time should focus on the country’s strategic breakthroughs, in which law-making improvement is essential for Vietnam to better adapt to changes in the region and the world.

Regarding the Mekong Delta region, Hue expected the World Bank to stay proactive in strengthening cooperation in the sub-Mekong region and addressing the water security issue.

For his part, Axel reiterated the World Bank's commitment to supporting Vietnam in achieving its development goals until 2030.

He noted the World Bank has raised its capital commitments for countries around the world by 50% to over US$200 billion in the past three years, aiming to help countries respond to rising challenges and also work on sustainable development goals.

Axel expressed his willingness to further discuss with Vietnam’s legislative body in the policy-making process for Vietnam to address climate change issues and expects to become the country’s partner in this regard.