Victoria Kwakwa, Director of the World Bank in Vietnam
(VOVworld) - Vietnam, development partners, and foreign organizations will strengthen cooperation in public finance and improve the Law on State Budget. The information was released at a meeting of groups of public finance partners held in Hanoi on Wednesday.
Finance Minister Dinh Tien Dung said revising the law on State Budget is a priority task of the ministry during this year and next year contributing to the improvement of the management, allocation, and use of financial resources. The Finance Ministry is exerting efforts to implement a program to reform public finance for the medium and long terms as part of the national finance strategy until 2020.
Victoria Kwakwa, Director of the World Bank in Vietnam, said one of the keys for Vietnam to avoid the middle-income trap is to make its public finance system transparent and sustainable. Ms. Kwakwa said the WB in Vietnam will continue to work with the Finance Ministry toward this important reform.