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.
Aging population, one of the four specific megatrends impacting on Vietnam, has many negative implications for Vietnam’s labor supply, long-term productivity growth, pension and social assistance system, according to country director of the World Bank Group in Vietnam Ousmane Dione.
The Dynamic City Integrated Development Project will precisely advance over 81,000 residents of Thai Nguyen city, by decreasing travel time through improved transport connectivity and strengthening urban environmental sanitation through enhanced drainage and sewer system, specifically in flood-prone areas.
Vietnam develops but does not follow the value chain and the way economy grows in the future, whilst building many roads does not bring efficiency, according to experts.
The property tax is not only a source of the Government revenue, but also a tool that adds to improving efficiency and accountability of the government, contributing to the development of the housing market and infrastructure, according to Sebastian Eckardt, Lead Economist for the World Bank in Vietnam.
