President Truong Tan Sang receives IMF Managing Director Christine Lagarde yesterday in Ha Noi. — VNA/VNS Photo Nguyen Khang

HÀ NỘI (VNS) — The International Monetary Fund (IMF) wishes to work with Việt Nam in its strongest fields, and pledges to provide addition technical assistance to help the country reach macro-economic stability.

At her meeting with President Trương Tấn Sang in Hà Nội yesterday, IMF Managing Director Christine Lagarde said that along with support from international organisations, including the IMF, the sound development policy and internal strength of Việt Nam are decisive factors for the country’s achievements in poverty reduction, curbing inflation and universal primary education.

She also appreciated Việt Nam’s development strategy towards quality and sustainability.

Speaking of the IMF’s assistance, particularly in preferential loans and policy consultation, President Trương Tấn Sang also thanked the fund’s useful assessment of the country’s economic development.

With an expected GDP growth target of around 6 per cent, Việt Nam will attach importance to the quality of growth, focusing on bank and enterprise restructuring, developing the private sector, attracting more foreign investment, and reforming the agricultural economy, the president said.

The country hopes to receive further IMF recommendations and assistance to help it find more preferential loans and serve its sustainable economic growth, he said.

Việt Nam is also speeding up reforms, improving national governance capabilities and upholding democracy, Prime Minister Nguyễn Tấn Dũng assured Lagarde during a reception yesterday.

Dũng hoped for further IMF support on forecasting macro-economic development trends, thereby raising the country’s stature on the international scene.

Lagarde said the IMF is targeting technical and educational support to Việt Nam. She suggested Việt Nam continue improving labour productivity and business competitiveness, and vowed that the IMF is ready to help Việt Nam fulfill its development goals.

Việt Nam is comprehensively switching to a market economy and considers this the guiding principle in steering the economy, Governor of the State Bank of Viet Nam (SBV) Nguyễn Văn Bình told the IMF Managing Director. 

He highly valued the IMF’s assistance to Việt Nam along with its support and policy advice. In particular, the assessment and advice of the IMF on the 2014 Article IV consultation have greatly contributed to the country’s success in monetary policy and bank restructuring, which in turn has helped stablise the macro-economy and ensure public social welfare. 

Bình stressed that the next five years are very important to Viet Nam as achievements during this period will create a firm foundation for growth and sustainable development in the future. Hence, the Southeast Asian nation wants to receive more technical assistance, training and policy advice from the IMF. 

Christine Lagarde spoke highly of the resolve and policy direction of the Vietnamese Government and the SBV to maintain macro-economic stability, monetary and banking market stability, and an optimal business climate. — VNS