Vietnam's economic restructure must help increase national competitiveness: WB

Vietnam's economic restructure should not only reform state-owned enterprises (SOEs), but alao help increase national competitiveness, a World Bank (WB) senior official said here on Monday.

Axel van Trotsenburg, WB vice president, made the remarks during a meeting with Vietnamese Deputy Prime Minister Vu Van Ninh.

WB is willing to work with Vietnam in the restructuring process to increase the country's national competitiveness, as well as to improve energy efficiency, and help Vietnam with effective response to climate change, said the visiting WB official.

The official added that WB President Jim Yong Kim is paying a working visit to Vietnam in July.

Vu Van Ninh, for his part, said that economic restructuring is an internal demand of Vietnamese economy. Vietnamese government has re-organized weak credit institutions to ensure systematic safety, said Ninh.

To effectively implement SOEs' restructuring, Vietnamese government has ratified different reform plan for each firm so that it can equally compete with other types of businesses, Ninh noted.