Deputy Prime Minister Vuong Dinh Hue received WB Country Director for Vietnam Ousmane Dione (Photo: Phuong Hoa/ VNA)

WB Country Director for Vietnam Ousmane Dione had a working session in Hanoi on Thursday with Deputy Prime Minister Vuong Dinh Hue, who is also head of the central steering committee for the reform of wage, social insurance and allowances for people with meritorious services. The experts proposed strengthening the State retirement system; encouraging the involvement of the informal sector; developing a fundamental social retirement pension fund for poverty reduction; and gradually expanding the private retirement system.

Deputy PM Hue said the World Bank’s assessments will help Vietnam complete a social insurance reform project which will be submitted to the Politburo. Mr. Hue called on the World Bank to assist Vietnam in training experts in financial forecasting, and said he believes that with the support of the bank, Vietnam will be successful in its reform efforts.