Gov’t chief receives incoming IMF Resident Representative

The Prime Minister thanked Schmittmann for his contributions during his tenure, particularly in maintaining policy dialogue and supporting training and capacity-building programs. He also congratulated Schmittmann on his new assignment and welcomed Jamaludin to assume his new role.

Highlighting Viet Nam's development agenda, Le said the third meeting of the 14th Communist Party of Viet Nam Central Committee adopted a resolution on renewing the country's development model, describing it as a historic turning point that requires comprehensive and structural reforms. The resolution aims to lay a solid foundation for Viet Nam to become a developing country with modern industry and upper-middle-income status by 2030, and a developed, high-income nation by 2045.

Briefing the IMF representatives on Viet Nam's socio-economic performance and policy priorities, the Prime Minister reaffirmed the Government's commitment to promoting economic growth while maintaining macroeconomic stability and safeguarding the safety and soundness of the financial and banking system.

He said Viet Nam will strengthen fiscal discipline and continue developing its capital market to gradually reduce the economy's reliance on bank credit, stressing that the Southeast Asian country will not trade macroeconomic stability or financial security for short-term, unsustainable growth.

The Prime Minister also noted that the National Assembly's upcoming session is expected to consider and adopt a number of draft laws to further improve the legal and institutional framework, bringing it closer to international standards and practices. These reforms, he said, will enhance the transparency, safety and attractiveness of the investment and business environment while strengthening the confidence of businesses, investors and international partners in Viet Nam's stable and sustainable development prospects.

Prime Minister Le said the Vietnamese Government highly values the IMF's assessments and policy recommendations, considering them an important reference in policymaking and implementation.

He expressed his hope that, during Jamaludin's tenure, the IMF Office would continue serving as an effective bridge to deepen substantive cooperation, maintain regular policy dialogue and provide practical policy advice in support of Viet Nam's rapid and sustainable development.

For his part, Schmittmann praised the strong partnership between Viet Nam and the IMF, noting that the country has maintained impressive economic growth, effectively weathered external shocks and implemented significant reforms in areas critical to long-term development.

He commended Viet Nam's strategic focus on science and technology, innovation and digital transformation, adding that the country still has room to accelerate growth through a well-coordinated mix of fiscal, monetary and other macroeconomic policies.

The IMF fully supports Viet Nam's ambition to achieve double-digit economic growth and will continue providing policy assessments and recommendations, particularly in the areas of monetary, financial and banking policies, he affirmed.

Jamaludin said he was impressed by Viet Nam's aspiration for double-digit growth, adding that Viet Nam has entered a new stage of development with promising prospects.

He pledged to build on the positive achievements of IMF-Viet Nam cooperation and reaffirmed the IMF's readiness to continue accompanying and supporting Viet Nam in achieving its long-term development goals./.