Update: 10:48 | 16/08/2019
Prime Minister Nguyen Xuan Phuc received Philippe Le Houerou, CEO of the International Finance Corporation (IFC) – a member of the World Bank (WB) Group, in Hanoi on August 15.
At the reception, PM Phuc praised the cooperation between Vietnam and the IFC in terms of financial funding and advice on macroeconomic and financial policies.
Prime Minister Nguyen Xuan Phuc (right) and Philippe Le Houerou, CEO of the International Finance Corporation.
He briefed his guest on the country’s current economic affairs with stable growth, good macroeconomic indexes, and increasing foreign investment, adding that collaboration and support from the IFC and WB have contributes to such achievements.
For his part, Houerou said Vietnam is a suitable partner for the IFC to expand its cooperation with, highlighting an increase in IFC activities in Vietnam recently as well as the significant potential for bilateral collaboration in infrastructure.
The IFC can help Vietnam switch to clean energy, build power lines, and boost the use of liquefied gas, the CEO said, adding that the corporation wants to continue supporting the development of Vietnam’s small- and medium-sized enterprises. He hoped for assistance from the Vietnamese Government and the PM during such process.
Agreeing with Houerou, Phuc stressed the potential of the private sector in Vietnam. He said the sector can enjoy even stronger development with proactive support from the WB and IFC.
Pointing to the risk of energy shortage, particularly electricity, in the country, the Government leader asked the IFC to assist Vietnam in developing renewable energy and upgrading overloaded power lines in key areas.
Prime Minister Nguyen Xuan Phuc (R) shakes hands with Philippe Le Houerou, CEO of the International Finance Corporation.
He also called for help from the IFC for Vietnam in environmental development, energy, clean water, finance, and poverty alleviation.
The PM also took the occasion to invite the IFC manager to attend activities hosted by Vietnam as the Chair of ASEAN next year.
Concurring with his host, Le Houerou said that the IFC is strengthening its financial and securities consultation for Vietnam and the corporation is committed to working closely with Vietnamese ministries and sectors to tap the country’s growth potential.
IFC is the largest global development institution focused on the private sector in developing countries. It has operated in Vietnam since 1992.