Prime Minister Nguyen Xuan Phuc praises the cooperation between Vietnam and the IFC in terms of financial funding and advice on macroeconomic and financial policies while receiving Philippe Le Houerou, CEO of the International Finance Corporation (IFC) – a member of the World Bank (WB) Group, in Hanoi on August 15
Prime Minister Nguyen Xuan Phuc (R) and Philippe Le Houerou, CEO of the International Finance Corporation
During the reception, PM Phuc informed his guest about Vietnam’s economic affairs with stable growth, good macroeconomic indexes, and increasing foreign investment, noting that cooperation and support from the IFC and WB have greatly contributed to such attainments.
In reply, the IFC official highlighted IFC’s recent activities in Vietnam as well as huge potential for stronger bilateral collaboration in infrastructure, saying Vietnam is a suitable partner for the IFC to expand its cooperation with in the future.
The IFC wishes to continue supporting the development of Vietnam’s small- and medium-sized enterprises and help the country switch to clean energy, build power lines, and boost the use of liquefied gas.
He said he expects more assistance from the Vietnamese Government and the PM during such process.
Echoing the view, Phuc underlined the potential of the private sector in Vietnam which, he said can enjoy even stronger growth with positive support from the WB and IFC.
The cabinet leader also asked the IFC to assist Vietnam in developing renewable energy and upgrading overloaded power lines in key areas when pointing to the risk of energy shortage, particularly electricity.
He also called for more help from the IFC in environmental development, energy, clean water, finance, and poverty alleviation.
PM Phuc invited the IFC manager to attend a host of activities to be hosted by Vietnam as it assumes the Chair of ASEAN in 2020.
Le Houerou said that his corporation is enhancing its financial and securities consultation for Vietnam and the corporation pledges to work hand in hand with Vietnamese ministries and sectors to fully tap into the country’s growth potential.
He said he hopes that with highly qualified WB and IFC experts in Vietnam, IFC's investment activities in Vietnam will double in the time ahead.