Secretary Vuong Dinh Hue highly spoke of IFC’s initiatives and activities in Vietnam in general, and in Hanoi in particular, especially the signing of a memorandum of understanding at the “Hanoi 2020 - Investment and Development Cooperation” in June, 2020.
He emphasized that thanks to the event, Hanoi has still maintained a positive economic growth of 3.98% last year, 1.4 times higher than the national average despite numerous challenges caused by the COVID-19 pandemic.
The city’s state budget revenue was 6% higher than figure recorded in 2019, an all-time high figure, he said, adding that Hanoi successfully held its 17th Party Congress in last October.
For his part, IFC Regional Manager for Vietnam, Cambodia, and Laos Kyle Kelhofer lauded Hanoi’s success in the fight against the COVID-19 pandemic over the past time, affirming that the city’s effort has helped create a safe environment for the people, including foreigners living in the city.
He stressed the total outstanding loans of IFC (a member of the World Bank group) make up one-third of the World Bank’s total.
The stability of Vietnam’s economic development over the past 25 years has created a strong belief of the IFC in providing the support for the country in various fields, which makes Vietnam IFC’s top 10 partners, and is on track to move to top 5, Kelhofer said.
He expressed his hope for further cooperation between the IFC and Hanoi to boost the development of the city and private sector, and mobilize more capital resources.