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Thursday, December 19, 2024

Vietnam seeks IMF support for economic restructuring

By Truc Dao

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HCMC – Vietnam’s Party General Secretary and State President To Lam has asked the International Monetary Fund (IMF) to support the country’s economic restructuring, the local media reported.

During his meeting with IMF Managing Director Kristalina Georgieva in the U.S. on September 24, Lam sought the IMF’s assistance for changing Vietnam’s growth model, advancing its digital and green transitions, and adopting new technologies, including artificial intelligence.

The discussion occurred as part of Lam’s participation in the 79th session of the United Nations General Assembly and the Summit of the Future.

Vietnam, one of the world’s 40 largest economies, aims to become a high-income nation by 2045. Lam highlighted that Vietnam is entering a critical phase of development, with milestones ahead in 2030 and 2045 marking the centennials of the Communist Party of Vietnam’s founding and the country’s establishment.

Georgieva reaffirmed the IMF’s commitment to supporting Vietnam’s reform and risk management. She also encouraged Vietnam to share its economic achievements with other nations, particularly in Africa.

In addition to the meeting with Georgieva, Lam delivered a speech at the UN General Assembly, calling for stronger multilateral cooperation and global efforts to achieve peace, stability, and sustainable development.

He emphasized the importance of global institutions such as the United Nations and regional organizations like ASEAN in ending conflicts and building a better world.

Lam further stressed the need to mobilize resources for sustainable development goals and urged support for developing nations through preferential financing, technology transfers, and human resource development.

He also called for smart global governance frameworks and long-term strategies in science and technology, particularly in fields like artificial intelligence, to drive progress while managing risks.

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