Vietnam a bright spot in global economy: IMF leader

Vietnam and ASEAN are bright spots in the global economy, particularly during the tough times when the global economy is hit by a series of shocks, says the International Monetary Fund’s (IMF) managing director Kristalina Georgieva.

Georgieva made the statement at a meeting with Vietnam’s Party chief and State President To Lam in New York on September 24 (local time).

The meeting took place within the framework of the top Vietnamese leader’s trip to the U.S. to attend the UN Summit of the Future and the 79th session of the UN General Assembly (UNGA 79).

Georgieva told Lam that Vietnam’s resilience, adaptation and maintenance of economic growth have been backed by two firm pillars that have been consolidated for decades, namely strong institutions that have been increasingly completed and an approach that prioritizes growth while ensuring the inclusiveness in penning macroeconomic policy.

The IMF leader expressed her hope that Vietnam will work alongside with the IMF to share its experience and success story with other countries, especially partners in Africa.

She said throughout the nation’s development journey, the IMF has been a good friend and partner, supporting Vietnam to improve its growth quality. She affirmed the institution’s commitment to assisting Vietnam to deliver on the country’s development goal of becoming a developed and high-income nation by 2045 through promoting reforms and risk governance.

The Vietnamese leader asked the IMF to help the country promote its economic restructuring, reform the growth model, conduct digital transformation and green transition, and develop new technologies such as artificial intelligence in tandem with "ensuring social security and eliminating poverty in the spirit of putting people at the center and leaving no one behind".

He noted that from an underdeveloped economy, Vietnam is now one of the world’s 40 largest economies and on the threshold of a new era, ahead significant milestones which are the 100th founding anniversary of the Communist Party of Vietnam in 2030 and the 100th anniversary of the country’s foundation in 2045.

Lam reaffirmed Vietnam’s strong commitment to continue upholding its role and responsibility in the settlement of global issues for the sake of a peaceful and prosperous world.

Congratulating Georgieva on the IMF’s 80th founding anniversary, the Vietnamese leader highly valued the fund’s important role in monitoring the macro-economic stability of economies and advising countries about the building of policies on financial and monetary system stabilization, poverty reduction, sustainable and balanced economic growth, and climate change response.

Previously, at a workshop on boosting Vietnam-United States collaboration in the two sectors held on Sunday (U.S. time) during his New York visit, Lam said Vietnamese and American businesses should tap the big cooperation potential that exists in the semiconductor and artificial intelligence (AI) sectors.

Executives and experts from the world’s leading technological firms and associations like Google, Marvell, and the Semiconductor Industry Association (SIA) participated in the workshop.