Deputy Minister of Industry and Trade Phan Thi Thang on July 4 expressed her hope that Vietnam and the World Bank (WB) will step up their cooperation in the time ahead, prioritising the improvement of energy efficiency and sustainable clean energy.

At a Hanoi reception for Wempi Saputra, Executive Director of the World Bank Group of Southeast Asia, Thang appreciated cooperation, support, and close coordination of the WB in the development of the Vietnamese energy sector towards green growth, greenhouse gas emissions reduction, and sustainable development.

She affirmed that the Vietnamese government will continue prioritising the use of the International Bank for Reconstruction and Development (IBRD) loans in the 2021-2025 period to serve large-scale socio-economic infrastructure programmes and projects in transport, irrigation, green growth, climate change response, and urban infrastructure.

She suggested the WB increase investment projects in energy saving in industries, and provide technical assistance for Vietnam in building mechanisms and policies and implementing policies and regulations on energy saving.

The official also called for more support from the WB in improving capacity of Vietnamese officials to effectively devise regulations on electricity activities and power market development amid energy transition towards green growth.

For his part, Saputra said the WB and other international organisations highly value Vietnam’s development, especially in comparison with countries in the region and the world.

He also informed Thang about cooperation orientations between Vietnam and the WB and the implementation of WB projects in the Southeast Asian country, and shared his view on the use of IBRD loans.

Saputra spoke of the WB’s support in climate change response and energy transition, and experience of countries where the bank has rolled out cooperation programmes in the fields.

VNA