It includes two operations designed to support the central government and Ho Chi Minh City in their efforts to improve urban management and promote a recovery that is inclusive, digitally transformative, and sustainable.
While domestic think tanks in Vietnam show optimism on the local economic growth and forecast a better performance than the government’s target, international organisations are more cautious with lower projections.
The credit facility aims to remove institutional bottlenecks to enable Vietnam’s largest city and economic powerhouse to address some of its most pressing urban governance challenges.
Growth of Vietnam’s economy is projected to moderate to 6.6 per cent in 2019, driven by credit tightening, slower private consumption and weaker external demand, according to World Bank.
The changing macroeconomic and sectoral context in Vietnam requires a new approach to financing electricity and gas investments, according to the World Bank Group.
Effective market institutions, and a transparent, clean and accountable state are lynchpins of development for Vietnam to resolve four key priorities including private sector, infrastructure, human capital and green growth, according to World Bank Vietnam.
A big challenge is how to mobilize the large investment requirements, estimated at around $8 billion annually to meet fast growing power demand, according to country director of World Bank in Vietnam Ousmane Dione.
The growth rate of Vietnam economy in 2018 was raised to 6.8 per cent by the World Bank, making Vietnam become one of the few countries having enhanced growth prospects.
Vietnam must upgrade the way its government functions to forge ahead or even leapfrog, according to the World Bank Country Director for Vietnam Ousmane Dione.
Cash has always been a convenient method of payment for Vietnamese but many people feels at risk when paying by card, particularly they concern about identity theft with online payment transactions.
