Hanoi is seeking additional financial and expertise assistance from international financial institutions, including the World Bank, to implement development projects in the coming years.

Receiving WB Country Director for Vietnam Corolyn Turk, Hanoi Party Committee Secretary
Vuong Dinh Hue hopes to receive additional assistance from the WB for the capital's
development projects in the coming years. (Photo: HMO)

Hanoi Party Committee Secretary Vuong Dinh Hue made the statement while receiving World Bank Country Director for Vietnam Carolyn Turk in the capital on January 12.

Hue noted Hanoi is undergoing rapid urbanization, thus requiring great resources for investment in socio-economic infrastructure. The city has set a target of obtaining an economic growth rate of approximately 7.5% per annum over the next five years, meaning its mobilized capital is expected to grow by about 12% per year.

Hanoi will have to mobilize many resources, from attracting businesses to foreign direct investment (FDI), alongside creating favourable conditions for private enterprises to develop, said Hue.

He expressed his hope the World Bank will support the city in many fields, especially in water supply and drainage management, waste water treatment, as well as solutions for improving traffic and the environment, and responding to climate change.

For her part, Carolyn Turk expressed admiration for Hanoi’s miraculous development over the past three decades, and said rapid economic growth will present many challenges for the capital, especially in cost and investment management for growth, water quality, and air pollution.

She assured the Hanoi leader that the WB is willing to support the capital in improving urban traffic, including developing urban railway lines, enhancing the capacity building for traffic management, and outlining strategic visions for urban traffic. The WB official also said the WB can assist the city to improve the quality of air and water resources, as well as to ensure food hygiene and safety.a Hanoi is seeking additional financial and expertise assistance from international financial institutions, including the World Bank, to implement development projects in the coming years.

Receiving WB Country Director for Vietnam Corolyn Turk, Hanoi Party Committee Secretary Vuong Dinh Hue hopes to receive additional assistance from the WB for the capital's development projects in the coming years. (Photo: HMO)

Hanoi Party Committee Secretary Vuong Dinh Hue made the statement while receiving World Bank Country Director for Vietnam Carolyn Turk in the capital on January 12.

Hue noted Hanoi is undergoing rapid urbanization, thus requiring great resources for investment in socio-economic infrastructure. The city has set a target of obtaining an economic growth rate of approximately 7.5% per annum over the next five years, meaning its mobilized capital is expected to grow by about 12% per year.

Hanoi will have to mobilize many resources, from attracting businesses to foreign direct investment (FDI), alongside creating favourable conditions for private enterprises to develop, said Hue.

He expressed his hope the World Bank will support the city in many fields, especially in water supply and drainage management, waste water treatment, as well as solutions for improving traffic and the environment, and responding to climate change.

For her part, Carolyn Turk expressed admiration for Hanoi’s miraculous development over the past three decades, and said rapid economic growth will present many challenges for the capital, especially in cost and investment management for growth, water quality, and air pollution.

She assured the Hanoi leader that the WB is willing to support the capital in improving urban traffic, including developing urban railway lines, enhancing the capacity building for traffic management, and outlining strategic visions for urban traffic. The WB official also said the WB can assist the city to improve the quality of air and water resources, as well as to ensure food hygiene and safety.