The Government of Vietnam is willing to closely work with the World Bank (WB) to better the country’s investment climate and competitiveness.

Prime Minister Nguyen Tan Dung receives WB Vietnam Country Director Victoria Kwakwa

Prime Minister Nguyen Tan Dung made the remarks while receiving the WB Vietnam Country Director Victoria Kwakwa in Hanoi on May 29 to discuss stronger cooperation ties between Vietnam and the bank.

The Government leader said Vietnam has been carrying out specific support policies to help foreign-run businesses resume normal operation as soon as possible, following the recent disturbances in some localities sparked by China’s brazen and illegal placement of its oil rig in Vietnam’s continental shelf and exclusive economic zone.

He highlighted the act as serious infringement of international law, particularly the 1982 United Nations Convention on the Law of the Sea (UNCLOS 1982) and direct threat to peace, stability, security and safety of navigation in the East Sea.

The Prime Minister said he will attend a dialogue with businesspeople in June.

Kwakwa highly valued efforts by the Vietnamese Government to promptly settle the matter in a definitive manner and help damaged businesses stabilise their operations.

She said the Government’s swift reaction to the situation, as well as its support activities, have received the high appreciation from both international investors and organisations.

She confirmed that the World Bank will aid Vietnam to support damaged businesses, improve its investment environment and carry out effectively projects through the 17 th replenishment of the International Development Assistance (IDA 17).

Source: VNA