World Bank Vietnam gets new country director Tran Thu HCMC - Ousmane Dione on September 12 takes up the post of country director for the World Bank (WB) in Vietnam. Dione, who has more than 20 years’ experience in leading regional and national programs for water, urban and the environment in Africa, South Asia, Latin America and East Asia and the Pacific regions, will give priority to supporting Vietnam in the process of stopping receiving preferential loans from the International Development Association (IDA) under the WB. He will continue to further strengthen partnership and cooperation between the WB and the Vietnamese Government and boost the WB’s sub-national engagements, and work closely with the Government and development partners to implement the vision and recommendations outlined in the Vietnam 2035 Report. Dione has worked for the WB since 2000 with his initial position as water manager. Since then, he has held different management positions at the … [Read more...] about World Bank Vietnam gets new country director
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World Bank: Vietnam gets advantagous in TTP
The Hanoitimes - A recent report by the World Bank (WB) states that Viet Nam will enjoy comparative and unique advantages such as labor-intensive manufacturing and fewer tariffs when Trans Pacific Partnership Agreement (TPP) comes into effect. The report says the economies in the region have prospered in 2015 thanks to an increase in foreign direct investment (FDI) and exports by foreign invested companies as well as increased commercial real estate construction. At the Global Investment Forum held in Vietnam at the end of September, Prime Minister Nguyen Tan Dung stressed that “Vietnam is actively and positively integrated into TPP, a dynamic market. With a relatively high economic growth rate, it is expected that by 2030, the bloc’s GDP will reach US$10 trillion”. The government leader said as part of an effort to entice more FDI, the government is making every effort to improve its market economy regulations, focusing on improving legal frameworks and … [Read more...] about World Bank: Vietnam gets advantagous in TTP
World Bank: Vietnam’s macro-economic development is stable
(VOVworld) – The World Bank’s lead economist Sandeep Mahajan has confirmed Vietnam’s stable macro-economic development. In the 2013 report on Vietnam’s economic development updates released in Hanoi on Monday, Mahajan said that Vietnam’s economy in 2013 shows promising signs with relatively-good GDP growth rate. He said that long-term investors remain optimistic about Vietnam’s economic growth prospects. The World Bank recommended that the Vietnamese government pay attention to 3 major pillars: competitiveness, the fight against corruption and poverty reduction. … [Read more...] about World Bank: Vietnam’s macro-economic development is stable
World Bank: Vietnam’s macro economy continues to stabilize
(VOVworld) - Vietnam’s macroeconomic situation continues to stabilize but growth remains below potential and rising inequality is a concern, said World Bank country director Victoria Kwakwa at a ceremony on Tuesday to announce Vietnam’s updated economic report in Hanoi. She said that although gross domestic product is estimated to grow at 5.4% this year, higher than many other countries in the region, it is still below Vietnam’s potential. She added that in the short run, the subdued economic growth was linked to soft domestic demand but longer-term prospects will depend on whether Vietnam can quickly address structural problems to enhance economic efficiency and the competitiveness of the country. Regarding China’s illegal placement of oil rig Haiyang 981 in Vietnam’s exclusive economic zone, potentially adversely affecting Vietnam’s potential economic growth in the future, Ms. Kwakwa said no effect has been seen so far and trade exchanges between … [Read more...] about World Bank: Vietnam’s macro economy continues to stabilize
World Bank: Vietnam’s economy to prosper in 2015
(VOVworld) - Vietnam is benefiting from lower oil prices and the economic recovery of developed countries, according to the East Asia Pacific Economic Update released Monday by the World Bank (WB). The report said Vietnam’s economy has prospered because the economic growth at the end of 2014 was above expectations despite earlier difficulties. Vietnam has improved on macroeconomics indicators and reformed the business environment. The poverty rate has also decreased. The WB forecasts that the developing economies of East Asia will grow by 6.7% this year and this region will still account for one-third of global growth, twice the combined contribution of all other developing regions. Except for China, growth in the rest of developing East Asia is expected to rise. … [Read more...] about World Bank: Vietnam’s economy to prosper in 2015