Donors pledge $2.4 billion for Vietnam

Donors pledge $2.4 billion for Vietnam

Reuters, Hanoi

International donors on Saturday pledged US$2.4 billion to support reform and development in Vietnam in the coming year -- the same amount as pledged last year. The fresh pledges were made at an annual meeting of the World Bank-chaired Consultative Group for Vietnam, which groups about 45 countries and donor agencies.

Donors at the two-day conference praised Vietnam's progress in poverty reduction and in improving environment for the private sector, but stressed that it now needed to push ahead strongly with implementing reforms, especially in trade, the banking sector and in ensuring good governance.

A World Bank press release said delegates had emphasized that now was the time to convert "vision to action" and that Vietnam needed to act to implement its broad program of structural reforms.

"In the light of the global slowdown, Vietnam now has a window of opportunity to act quickly to gain in competitiveness and position itself for three decade ahead," said Andrew Speer, World Bank country manager for Vietnam.

"In addition to gaining a reputation for stability, one of Vietnam's key advantages, is the energy, enthusiasm and industriousness of its people. Liberating that energy will be crucial to Vietnam's path to prosperity."

The Belgian ambassador to Vietnam, Philippe Dartois, speaking on behalf of the EU, said:

"An absolutely key part of the overall economic reform process is governance....major efforts are needed to build democratic governance in Vietnam to improve transparency and accountability of the government to promote independence and predictability of the judiciary, and to fight against corruption at all levels."

The was no place on the formal agenda for human rights, despite a plea on Monday by Human Rights Watch, which said the issue should be given equal prominence to commercial reform.

Several delegations did broach rights, however, with the European Union welcoming improvements in individual freedoms but expressing concern about continuing curbs on freedom of opinion and religion, the situation of ethnic minorities, as well as the use of the death penalty.

The U.S. paper was more oblique, saying Vietnam's economic potential would be enhanced if all citizens, regardless of their gender, religion or ethnicity, had the right to participate in economic, civil and political life.