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Vietnam, WB address bottlenecks in project implementation

Deputy Prime Minister Tran Luu Quang lauded the World Bank (WB) for its continued support in mobilising funding for development projects in Vietnam at a reception in Hanoi on March 13 for WB Country Director Carolyn Turk.
Vietnam, WB address bottlenecks in project implementation ảnh 1Deputy Prime Minister Tran Luu Quang (R) and WB Country Director Carolyn Turk at their meeting in Hanoi on March 13. (Photo: VNA)

Hanoi (VNA) – Deputy Prime Minister Tran Luu Quanglauded the World Bank (WB) for its continued support in mobilising funding for developmentprojects in Vietnam at a reception in Hanoi on March 13 for WBCountry Director Carolyn Turk.

Quang suggested that both sides continue workingclosely together to overcome difficulties in the implementation and completionof projects using WB’s loans.

Since1993, the WB has allocated about 25 billion USD in concessional loans toVietnam, along with technical assistance and policy consultation, contributingsignificantly to national socioeconomic development.

Bothsides reviewed the current state of the WB’s projects in Vietnam, especially sincethe establishment of a task force in charge of stepping up their progress ledby Deputy Minister of Planning and Investment Tran Quoc Phuong.

Accordingto the Ministry of Planning and Investment, major barriers hindering projectapproval stem from differences in compensation policies, land clearance and complaintsettlement mechanism between Vietnam and the WB.

To address theseobstacles, the Vietnamese side proposed negotiating and signing a frameworkagreement to harmonise procedures between Vietnam and the WB, with a specific focuson compensation, land clearance and complaint settlement mechanisms.

Turk,for her part, expressed the WB’s willingness to engage in further discussionswith Vietnam regarding this proposal.

💦 The WB highlyvalues its relationship with Vietnam and considers Vietnam a criticallyimportant partner, she said./.

VNA

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