Prime Minister Nguyen Xuan Phuc yesterday presented the Friendship Order
to Victoria Kwakwa, Regional Vice President for East Asia and the
Pacific of the World Bank (WB), who was the former WB Country Director
in Viet Nam.
Viet Nam could reach upper-middle income status (US$22,000 purchasing
power parity per capita) by 2035 by growing with sustainability, equity
and social inclusion, and being a capable and accountable State, a World
Bank official has said.
Viet Nam''s GDP growth is likely to reach 6.5 percent this year as the
country''s economy has weathered the recent turbulence in the external
environment fairly well.
Viet Nam needs to rely more on innovation-driven productivity, which
requires considerable improvement in its domestic innovativeness, to
boost its economy.
Foreign investment in agriculture in the Mekong Delta remains low, with
a major portion of the funds invested in the industrial, food
processing and real estate sectors.
A conference that opened yesterday in the capital brought together
Government and business representatives in order to address the
difficulties that enterprises currently face.
It is imperative for Viet Nam to build an effective financial
supervision system that has the ability to provide analysis and timely
warnings for the Government.
The World Bank is offering preferential loans worth US$55 million for
research institutes and small to medium enterprises in Viet Nam to
promote technological innovations that help the nation''s poor.
The State Audit of Viet Nam (SAV) yesterday called for more support from
development partners to implement its Action Plan, part of its Strategy
to 2020.