Vietnam is a successful example in realising the strategic targets of the World Bank (WB) according to the bank’s Systematic Country Diagnostic (SCD), an expert has said.
Producing electronic components at the Republic of Korea's Bluecom Vina Co. Ltd in Trang Due Industrial Park, Hai Phong city (Photo: VNA)
HCM City (VNA) - Vi༒etnam is a successful example in rea꧟lising the strategic targets of the World Bank (WB) according to the bank’s Systematic Country Diagnostic (SCD), an expert has said.
During an April 6 workshop on the growth quality and the role of the private sector in the national strategy of Vietnam in Ho Chi Minh City, Sebastian Eckardt from the WB also pointed to challenges that are arising.
He stated that Vietnam has had positive achievements in terms of GDP per capita reaching 5.5 percent from 1990 to 2014 on average, coupled with a sharp fall in the poverty rate and only a limited increase in gender inequality.
Vietnam is now aiming to grow at 6.5 percent in the 2015-2020 period and bring down its poverty rate, he said.
The country should narrow the gap between the rich and the poor, improve the living conditions of disadvantaged groups – particularly ethnic minorities, and reduce the environmental impacts resulting from fast growth, he added.
The WB expert also suggested Vietnam focus on equal growth and job creation, as well as sustainable management of the environment and natural resources.
The local Government also needs to develop infrastructure facilities and market institutions as well as focus on economic management, while tackling the impacts of climate change and modernising agriculture, he said.-VNA
The World Bank is now embarking on a process to design its next strategy to support Vietnam in implementing the 2016-2020 socio-economic development programme and achieve the set objectives.
Vietnam has become one of the world’s great development success stories, rising from the ranks of the poorest countries, said Work Bank (WB) Group President Jim Yong Kim.
Vietnam is among emerging countries in the world with strong economic growth forcasts for this year and the years to come, according to the World Bank (WB)’s recent Global Economic Prospects report.
Vietnam wishes for continued support from the international community, including the World Bank (WB), to fulfill its development goals, Prime Minister Nguyen Tan Dung told WB Country Director.
WB Country Director in Vietnam Victoria Kwakwa had a working session with Chairman of the HCM City People’s Committee Nguyen Thanh Phong to discuss cooperation programmes between the two sides.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Producing electronic components at the Republic of Korea's Bluecom Vina Co. Ltd in Trang Due Industrial Park, Hai Phong city (Photo: VNA)
