(MPI) - Deputy Minister of Planning and Investment Do Thanh Trung hosted a reception in Hanoi on June 29 for a delegation of the International Monetary Fund (IMF) led by Sanjaya Panth, Deputy Director of the IMF’s Asia and Pacific Department. Paulo Medas, head of the organisation’s Article IV Consultation and Francois Painchaud, IMF Resident Representative in Vietnam also attended the meeting.

At the meeting between the Ministry of Planning and Investment and IMF's Article IV Consultation team. Photo: MPI

Deputy Minister Trung spoke highly of IMF’s precious assistance for Vietnam so far, including policy consultation, technical support, and personnel training, especially its analysis, assessment, and recommendations about macroeconomic development, helping the Government of Vietnam and personally the Ministry of Planning and Investment (MPI) in policy making process.

He said, measures and policies have been carried out promptly and effectively by the Government of Vietnam to stabilise the fiscal and monetary market, which are in line with current situation and practical requirements.

As Vietnam is a developing country with economic transition and facing numerous difficulties, he asked the IMF to strengthen partnership, increase policy advice on economic governance and risk response for the Government and relevant agencies.

The organisation should continue providing training programmes and technical support on economic, macroeconomic management, and coordinating with other sponsors to design suitable programmes for Vietnam, he continued.

For his part, Sanjaya said the global growth prospects are weak with the GDP forecasted at 2.8% in 2023, but the Asian region, including Vietnam, is highlighted as global economic bright spot. The Vietnamese economy is expected to grow better as IMF predicted the country’s GDP growth at 5.8% this year.

The IMF delegation also raised many recommendations to help Vietnam control inflation and have effective socio-economic development policies, including stabilising financial market, properly implementing fiscal and monetary policies, building a legal framework to ensure a transparent business and investment environment, and maintain its attractiveness to foreign investors and development of business sector.

They congratulated the country on its positive economic and social achievements, and affirmed their willingness to work with the MPI in policy making and the implementation of macroeconomic advisory activities in the coming time.

Deputy Minister of Planning and Investment Do Thanh Trung and IMF Senior Economist Feridhanusetyawan Tubagus. Photo: MPI

The same day morning, Deputy Minister Trung had a meeting with Feridhanusetyawan Tubagus, IMF Senior Economist to discuss training cooperation activities between the organisation and ministry.

Accordingly, IMF will provide the ministry a personnel training programme that enhance the capacity of some officials to analyse macroeconomic situation, and build mechanisms and policies based on scientific analysis.

Deputy Minister Trung thanked IMF for providing technical support and capacity building for the ministry, suggesting the programme must be in accordance with ministry’s needs such as macro, fiscal and monetary policies analysis, making already good relationship between the sides to be consolidated./.

Bao Linh

Ministry of Planning and Investment