PM urges WB to provide concessional loans for key infrastructure projects
Vietnamese Prime Minister Pham Minh Chinh has called for the World Bank (WB)'s continued support and concessional loans targeting key infrastructure projects, including high-speed and urban rail systems, major seaports and airports.
Prime Minister Pham Minh Chinh (R) and WB Vice President for East Asia and Pacific Manuela Ferro. (Photo: VNA)
Vientiane (VNA)🏅 – Vietnamese Prime Minister Pham Minh Chinh has called for the World Bank (WB)'s continued support and concessional loans targeting key infrastructure projects, including high-speed and urban rail systems, major seaports and airports.
At a meeting with WB Vice President for East Asia and Pacific Manuela Ferro on the sidelines of the 44th and 45th ASEAN Summits and Related Summits in Vientiane on October 10, PM Chinh lauded the WB’s strategic vision to create a world free from poverty on a livable planet, which focuses on sustainable development and green transition.
Thanking and highly appreciating the WB for its positive support to Vietnam’s socio-economic development over the past three decades, he affirmed that Vietnam always values and wishes to further deepen its cooperation with the lender.
Ferro affirmed the WB's strong commitment to continue its close and effective cooperation with Vietnam in its journey to become a high-income developed nation by 2045.
She highlighted the WB’s efforts to diversify funding sources to lower interest rates on development loans, and expressed strong support for PM Chinh’s proposals to prioritise assistance for key large-scale infrastructure projects.
The WB Vice President also pledged to help Vietnam penetrate more deeply into global supply chains, sustain economic growth, and attract quality investments, especially in the face of ongoing global and regional economic challenges.
Both sides agreed to streamline procedures in negotiating and signing loan agreements, ensuring that cooperation projects can be carried out swiftly and effectively./.
The Vietnamese equity market boasts strong potential to become a major source of financing for the private sector, according to specialists from the World Bank.
Vietnam always prioritises strengthening and consolidating relations with the World Bank (WB), affirmed Party General Secretary and State President To Lam during his reception for WB President Ajay Banga in New York on September 25 (local time).
Deputy Minister of Agriculture and Rural Development Tran Thanh Nam on September 23 met with a World Bank (WB) delegation to discuss preparations for signing the Emission Reduction Payment Agreement (ERPA) with the Transformative Carbon Asset Facility (TCAF).
The 500kV Lao Cai – Vinh Yen power transmission line has a total investment of over 7.41 trillion VND (282.5 million USD), and a total length of 229.5 km, passing through 31 communes in the two provinces, and comprising 468 transmission tower foundations.
The visits reflected the elevated position of Vietnam’s foreign policy in the new era—aimed at not only advancing ties with key regional partners like Egypt and Angola but also delivering a strategic message about Vietnam’s commitment to deepening relations with African nations as a whole.
At their talks and meetings, President Cuong and Angola’s top leaders affirmed that the close brotherhood and traditional friendship are a valuable shared asset and a solid foundation for the two nations to advance into a new phase of development.
The ruling People’s Movement for the Liberation of Angola (MPLA) attaches great importance to the friendship, solidarity, and comradeship with the Communist Party of Vietnam, and voiced her Party’s wish to further deepen and expand relations between the two sides for the benefit of the Vietnamese and Angolan people.
Vietnam pledges to do its utmost to build an ASEAN of solidarity, consensus, and unity in diversity, and to foster a fast and sustainable development path for ASEAN, grounded in science, technology, and innovation, said Prime Minister Pham Minh Chinh.
Party General Secretary To Lam called on the criminal police force to accelerate the application of science, technology, artificial intelligence, and digital transformation in criminal investigation tasks such as crime prevention, detection, tracking and verification, ensuring that no area remains out of their reach.
Many Koreans living, studying, and working in Hanoi see the upcoming state visit to the Republic of Korea (RoK) by Party General Secretary To Lam as an opportunity to generate strong synergy in economic cooperation, people-to-people exchanges, and cultural understanding.
The achievements of the five decades of Vietnam–Angola cooperation provide a strong and enduring foundation, as well as momentum for the two sides to consolidate, expand, and bring their partnership into a new phase of development.
Prime Minister Pham Minh Chinh stressed that the emulation and commendation work is a vital driver, fostering patriotism, dedication, and collective momentum in the run-up to the 11th National Patriotic Emulation Congress, Party congresses at all levels, and the 14th National Party Congress.
Emphasising the need for sustainable, long-term collaboration, National Assembly Chairman Tran Thanh Man called on Japanese investors not only to bring in capital but also to share expertise and modern technology, especially in areas such as green transformation, the circular economy, and advanced corporate governance.
President Luong Cuong's activities during his state visit to Angola, the celebration of the financial sector's 80th traditional day, and the Foreign Ministry's flag-hoisting ceremony marking the 58th founding anniversary of ASEAN are among news highlights on August 8.
Vietnamese Ambassador to Thailand Pham Viet Hung praised the Thai Ministry of Foreign Affairs’ meaningful initiative, noting that the ASEAN Family Run was not only a sporting activity but also an opportunity for diplomats and their families to show unity, connection, and solidarity within the ASEAN family.
Politburo member, Prime Minister Pham Minh Chinh on August 8 attended the first congress of the Party Organisation of Tay Ho ward of Hanoi for the 2025–2030 term, during which he called for fresh momentum to turn the ward into a model that takes the lead in all fields.
The size of the economy increased from over 5 billion USD in 1986 to over 476 billion USD by 2024, making Vietnam the fourth-largest economy in Southeast Asia and the 34th largest in the world.
The ASEAN flag-hoisting ceremony is observed by the 10 ASEAN member countries on August 8 every year, aiming to spread and promote the ASEAN identity and affirm the determination to unite and cooperate for the common aspiration of long-term peace and prosperity of Southeast Asian countries under the common roof of the ASEAN Community.
Vice Chairman of the municipal People’s Committee Nguyen Manh Cuong highlighted ASEAN’s nearly six decades of development, during which the region transformed from division to harmony, from confrontation to cooperation, and from poverty to dynamic growth, becoming a global bright spot for regional cooperation.
Thirty years ago, on July 28, 1995, Vietnam’s accession to ASEAN marked a historic strategic decision, opening a new chapter in the country’s integration process and beginning its strong rise.
Ambassador Vu Le Thai Hoang has outlined specific priorities and proposals for cooperation with the UNODA in preparation for the upcoming 11th Review Conference of the Non-Proliferation of Nuclear Weapons (NPT).
The Vietnamese Party leader's visit is therefore expected to mark a new stage in the development of the Comprehensive Strategic Partnership between the two countries, with a focus on such areas as digital transformation, supply chains, semiconductors, clean energy, and maritime security, Choe assessed.
At their meeting, which took place in the Angolan capital of Luanda on August 7 as part of State President Luong Cuong’s ongoing state visit to the African nation, the two officials also agreed to make full use of existing cooperation mechanisms, particularly the Vietnam – Angola Intergovernmental Committee, and step up exchanges of delegations at all levels.
