World Bank Country Director for Vietnam Ousmane Dione spoke at the event (Photo: VNA)

The CPF prioritizes four areas of inclusive growth and private sector participation, investing in people and knowledge, environmental sustainability and resilience, and good governance. The framework is designed to help Vietnam attain the balance between economic development and sustainable environment, promote equality, and improve state agencies’ capacity and accountability. The framework will help Vietnam realize its 2016-2021 socio-economic development plan. 

The CPF also puts forth some strategic shifts, including comprehensive engagement to strengthen private sector development and participation across sectors, support to achieve financial sustainability of public services and transfers, support for ethnic minority poverty reduction through livelihood and income generation activities, multispectral engagements to strengthen linkages between education and the labor market, support to promote and stimulate low carbon energy generation. It will continue the WB Vietnam’s existing supports in coordination with other development partners while mobilizing other resources to boost development.