Prime Minister Phạm Minh Chính had talks with Jim Yong Kim, former President of the World Bank and Vice Chairman and Partner at the Global Infrastructure Partners on Monday in Hà Nội. — VNA/VNS Photo Dương Giang

HÀ NỘI — Việt Nam is ready to welcome and facilitate the Global Infrastructure Partners (GIP)'s business cooperation in the country, Prime Minister Phạm Minh Chính told Jim Yong Kim, former President of the World Bank and Vice Chairman and Partner at the GIP.

Vietnamese ministries and agencies will be assigned to actively exchange and concretise cooperation contents with the GIP on the principle of efficiency and practicality, and in line with the needs and capabilities of the two parties, the PM said.

He appreciated Kim’s contribution to promoting the good relationship between the World Bank and Việt Nam, especially in providing financial resources and advice on many socio-economic development policies for the country.

The Government leader hoped that in his new position, he would continue to support Việt Nam in accessing international financial resources and promoting high-quality investment projects, especially in obtaining capital sources from such funds as the GIP.

The PM highlighted the important achievements the country had gained since the đổi mới (renewal) process was launched in 1986.

Last year, Việt Nam’s Gross Domestic Product (GDP) expanded by more than 8 per cent, the highest in the region. Việt Nam’s GDP scale exceeded US$400 billion, ranking fourth in the Association of Southeast Asian Nations (ASEAN), and its trade turnover surpassed $700 billion. The country's business and investment environment has continuously improved in recent years.

For his part, the GIP Vice Chairman expressed his admiration for Việt Nam’s socio-economic development, saying that this would be the motivation for him and his associates to further strengthen cooperation with Việt Nam.

The GIP was interested in pouring capital in the fields of transport, energy and digital technology, he said, revealing that it was willing to invest $1 billion in Việt Nam.

The official said he expected the Vietnamese Government to support and direct its ministries and agencies to work with the GIP in devising an investment strategy suitable for Việt Nam and mulling over specific cooperation projects.

The Vietnamese Government leader welcomed the GIP's interest in investing in strategic infrastructure in Việt Nam, especially transport infrastructure, promoting digital transformation and green transition, combating climate change, and implementing agreements to reduce emissions to zero by 2050.

The PM asked Kim and his associates to provide advice and devise special mechanisms for Việt Nam to approach capital resources quickly and efficiently in the spirit of harmonising benefits and sharing risks.

He also hoped that the GIP would share experience and information with and support Việt Nam in terms of capital, technology, human resources, and governance. — VNS