On August 30, while hosting the reception in Hanoi for International Monetary Fund (IMF) Resident Representative, Prime Minister Nguyen Xuan Phuc has expressed his hope to receive more macro-economy policy consultations of the IMF in the coming time.
PM Phuc told IMF Resident Representative in Vietnam Jonathan Dunn that he appreciated the fund’s effective and pragmatic support for macro-economic stabilisation and socio-economic development in Vietnam, particularly in financial and banking reform, public debt management and State-owned enterprise restructuring.
The Vietnamese Government commits to improving the investment and business environment and creating favorable conditions for businesses and investors, affirmed PM Nguyen Xuan Phuc. The PM hailed the effective and realistic assistance of the IMF to the nation’s socio-economic development process, especially in terms of finance-banking, public debt and reforming the State-owned enterprises (SOEs), expressing his hope that Viet Nam will receive more assistance from the IMF in macro-economic policy consultancy during its future national development.
Vietnam will ensure transparency in the reform and SOEs equitization process and enhance economic development in line with environmental protection as well as make efforts in administrative procedure reform and anti-corruption, he asserted.
For his side, Mr. Jonathan Dunn confirmed the IMF’s commitments in closely cooperating with the Vietnamese relevant agencies to propose macro-economic recommendations to help the Vietnamese Government head on the right track.
The IMF appraised the nation’s reform programs such as SOEs restructuring and the economic growth of 6% in the context of a number of challenges in the global economy, he said. He suggested the Government continue the work in the new period, especially stabilizing the macro-economy, controlling public debts, supporting the development of the private sector and SOEs restructuring.
Since early this year, Vietnam has suffered from severe natural disasters that have seriously affected the country’s agriculture, the PM said, noting difficulties caused by the global economic uncertainties. However, he stated the country has consistently pursued its goal of stabilising the macro-economy and forex rate, and ensuring sustainable growth.
The Vietnamese Government pledged to improve its investment and business climate to create the best possible conditions for investors in the country, he said, stressing that Vietnam will pair economic development with environmental protection.
For his part, Jonathan Dunn hailed the Vietnamese Government’s efforts in keeping the macro-economy and forex rate stable and restructuring State-owned enterprises, especially its support for small-and medium-sized enterprises and the private economic sector.
The IMF will closely partner with competent Vietnamese agencies to give advice on macro-economic policy, helping guide the local economic development on the right track, he promised. Vietnam has maintained macroeconomic stability, recorded good economic growth, and curbed inflation at a low level, creating a foundation for stronger development in the near future, the International Monetary Fund (IMF) evaluated.
Vietnam will continue its management to ensure macroeconomic stability and curb inflation to below 5 percent in 2016 and the following years, while closely monitoring the market to adjust the monetary policies for stable exchange and interest rates, reasonable credit growth, and increasing foreign currency reserves.
The Vietnamese Party and Government persistently pursue the target of macroeconomic stability while focusing on growth quality and economic restructuring, especially reinforcing finance, handling bad debts, and restructuring the banking system, he said, adding that Vietnam hopes to receive more support from the IMF.
Source: HanoiTimes
Key words: IMF, to consult, macro-economic policy, for Vietnam.
