The Consultative Group meeting to take place on Dec. 6th, 2011

ME - The Consultative Group (CG) meeting of donors will be held Ha Noi on December 6 focusing on restructuring the economy and poverty reduction, said World Bank Country Director in Vietnam Victoria Kwakwa.

CG 2011 will also discuss the restructuring of public investment
WB Director Victoria Kwakwa announced the news at a press conference on November 30.

CG 2011 will also discuss the restructuring of public investment and the finance and banking sector, ensuring social welfare and poverty reduction, Ms. Victoria Kwakwa added.  

WB expert Depak Misbra said that slower economic growth in East Asian nations offers commercial and trade opportunities to Vietnam.

Vietnam has gain results in reducing inflation, credit growth and currency supply, said the WB expert adding that the country should focus on transparency in its strategy to stabilize markets.

Despite a slowdown in economic growth, the Vietnamese economy is projected to expand by around 5.8% in 2011, the expert said.

However, Vietnam is facing the challenge of high expenditure even though foreign debt remains within a sustainable debt framework, he added.  

According to Mr. Depak Misbra, the restructure of State-owned businesses and the finance and banking sector will help Vietnam achieve a sustainable economic environment and create foundations for more effective medium-term growth.

Under the theme “New Period for Competitive Growth”, CG meeting will cover an overview of the investment environment, a dialogue with the Government on building an effective and efficient banking sector, capital markets and production and distribution.