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Prime Minister orders to tame 2011 inflation at 12-13%, GDP at above 6%

WB said on the East Asia and Pacific Economic Update report on March 21 that Vietnam is taking important step in the right direction after the recent policy on stabilizing the country’s macro economics. WB forecast that Vietnam real GDP will slow down to 6.3% this year from 6.8% in 2010 due to tighten policy while inflation will stand at a single digit of 9.5%.

WB lends $330 mln for northern hydropower project

The mid-sized multipurpose hydropower project will help meet growing domestic demand for electricity and bring flood control and irrigation benefits to rural and poor communities in the northern province. Electricity consumption in Vietnam has been growing at 15 percent annually for the past several years and Trung Son’s 260 Megawatts project will help meet the increased demand.

Innovation day highlights social equity

The Ministry of Planning and Investment and the World Bank (WB) on March 7 launched Vietnam Innovation Day (VID 2011) with the theme, “Innovation for Social Equity and Sustainable Development”.

Vietnam scales down public investment reform loans

Of the sum, $100million will be sourced from the International Development Association (IDA), which is part of the WB that helps the world’s poorest countries, $250million will come from the International Bank for Reconstruction and Development (IBRD), the low-interest lending arm of the World Bank and 35million euro will be funded by a French Development Agency or Agence Française de Développement (AFD).

Statistics crucial to economic future

Viet Nam’s rapid advance was an “absolutely possible” goal set by the draft national statistical development strategy, said WB statistics consultant Richard Roberts at the meeting organised recently by the General Statistical Office (GSO) in northern Bac Ninh Province. “It’s very clear that with the current competence and enthusiasm among the staff of the GSO and the ministries, and the obvious political support, dramatic improvement can be made here in the next 10 years,” he said.

WB assists tertiary education development in VN

This phase aims to modernise higher education and meet the demand for high-quality human resources, serving the country’s industrialisation and modernisation. Speaking at the ceremony, SBV Governor Nguyen Van Giau spoke highly of WB’s efforts in supporting Vietnam ’s education development, especially tertiary education.

Vietnam’s inflation at 10.5pct in 2010, World Bank says

The forecast was given in the World Bank (WB)’s report at Consultative Group (CG-2010) meeting held on December 7. WB’s report also showed that Vietnam’s inflation suddenly surged high than expected in October and November. In details, by the end of November, Vietnam’s inflation in Jan-November stood at nearly 9.6 percent. The annual inflation of food price climbed to 14.8 percent, marking the highest level as of April 2009.

WB and ADB finance Vietnam $230m to develop infrastructure in central

Under it, WB will fund an urban development project in the central city of Vinh, water drainage and waste treatment projects in Thai Hoa town, and rural energy project phase II.

WB: VN’s public debt under control

WB chief economist in Việt Nam Deepak Mishra said that the country’s public debt is not a headache if the economy’s major indexes are secured. WB believes in Việt Nam’s cautious policies and management method, stressed Mrs. Kwakwa, adding that Việt Nam knows how to use proper policies and measures.

WB helps reform VN’s higher education

This credit was sponsored through the International Development Association, an agency under the WB, to support programs in underdeveloped countries.

WB helps Vietnam develop gas industry

WB Acting Country Director in Vietnam Alain Barbu affirmed this at a press conference to announce Vietnam ’s Gas Industry Development Report in Hanoi on November 11.

VN climbs ladder in business rankings

The WB and IFC representatives said they are optimistic about Vietnam’s results, gained through executing administrative reforms within the framework of the Government’s project 30.


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