PM Phuc attends IMF-WB annual meetings in Bali
![]() |
PM Nguyen Xuan Phuc joins the leaders of other ASEAN member states at the opening ceremony of the annual meetings of the International Monetary Fund (IMF)-World Bank (WB) Group.
The event brought together finance ministers and central bank governors of 189 member countries of IMF and WB, leaders of international organisations, representatives of enterprises and social organisations, and researchers across the globe.
Themed “Harnessing disruption to shape inclusive economies of the future”, the annual meetings discussed emerging issues in the global economy, including the impact of trade wars on international and regional economic growth prospects, financial and monetary policy coordination, the impact of the Fourth Industrial Revolution on economic growth, financial stability, employment, and social equality and progress.
At the event, the IMF released the World Economic Outlook Update, forecasting a global economic growth rate of 3.7% in 2018 and 2019 due to the growth slowdown in some key economies under the influence of the tightened monetary policy in the US, escalating trade tensions, and increasing oil prices.
Addressing the event, IMF Managing Director Christine Lagarde and WB Group President Jim Yong Kim called on countries to improve resilience in their economies, boost structural reforms, support multilateralism, combat protectionism, augment global cooperation, reduce global imbalances, and make the best of the Industry 4.0 to serve sustainable, equal, and inclusive development.
The same day, PM Phuc returned to Hanoi, rounding off his trip for the ASEAN Leaders’ Gathering on the occasion of the annual meetings of the International Monetary Fund (IMF) and the World Bank (WB) and his working visit to Indonesia over October 11-12.
In his speech at ASEAN Leaders’ Gathering, PM Phuc proposed the UN, the IMF and the WB to work together with ASEAN and Vietnam to seep up the implementation of outcomes of the World Economic Forum on ASEAN 2018 (WEF ASEAN), especially the business environment harmony mechanism, the national incubator connectivity framework, and connectivity on education systems and building of life-long learning systems in ASEAN countries.
He suggested the IMF and the WB cooperate with and give advice to ASEAN member states in building a regional macroeconomic risk warning mechanism so as to improve self-reliance capacity and adaptation of the ASEAN economy.
The Vietnamese government leader also asked them to continue helping the regional grouping with infrastructure development, early disaster warning and climate change response, narrowing development gaps, especially in digital gap, technology research and application, institutional reform and high-quality human resources training in order to seize opportunities from the fourth Industrial Revolution.
During his working visit to Indonesia, PM Phuc and President Joko Widodo, consented to turn economic cooperation into a main pillar of the Vietnam-Indonesia Strategic Partnership to bring two-way trade to US$10 billion in the time ahead.
The PM’s visit affirmed that Vietnam is an active and responsible member of ASEAN and showed the country’s high regard for the world’s major multilateral institutions as well as the strategic partnership with Indonesia, thus helping to raise Vietnam’s regional and international profile.
Related News

Vietnam’s exports to the U.S. near US$100 billion milestone
09:46 | 21/11/2024 Import-Export

Six export markets of billion growth
09:56 | 27/06/2024 Import-Export

Rice exports to China drop sharply
08:03 | 20/06/2024 Import-Export

Cambodia Customs facilitates fastest movement of goods in transit
16:36 | 10/06/2024 Customs
Latest News

Minister of Planning and Investment outlines six strategies to boost Việt Nam’s private sector
14:41 | 10/02/2025 Headlines

Positive economy growth forecast in 2025, but caution remains
08:24 | 10/02/2025 Headlines

Labour market to see changes in key industries
15:31 | 07/02/2025 Headlines

Prime Minister warns of possible global trade war, pushes for preparation
14:13 | 06/02/2025 Headlines
More News

Positive economic indicators recorded in early 2025: Gov't spokesperson
14:10 | 06/02/2025 Headlines

General Secretary urges immediate return to work after Tết
14:07 | 05/02/2025 Headlines

Government holds gathering to celebrate Party’s 95th anniversary, Lunar New Year
07:54 | 04/02/2025 Headlines

Việt Nam’s manufacturing PMI slips into contraction in January
14:29 | 03/02/2025 Headlines

Party’s 95-year journey: Capitalising on great solidarity in era of nation’s rise
14:26 | 03/02/2025 Headlines

Great opportunities for cooperation with Việt Nam in 2025: Malaysian Ambassador
19:08 | 01/02/2025 Headlines

Structural reform, innovation to drive Việt Nam's sustainable development: EuroCham chair
21:02 | 31/01/2025 Headlines

At threshold of a new era: Vietnam accelerates toward breakthroughs
20:56 | 31/01/2025 Headlines

Vietnamese, Russian leaders exchange congratulations on diplomatic ties anniversary
20:51 | 30/01/2025 Headlines
Your care

Minister of Planning and Investment outlines six strategies to boost Việt Nam’s private sector
14:41 | 10/02/2025 Headlines

Positive economy growth forecast in 2025, but caution remains
08:24 | 10/02/2025 Headlines

Labour market to see changes in key industries
15:31 | 07/02/2025 Headlines

Prime Minister warns of possible global trade war, pushes for preparation
14:13 | 06/02/2025 Headlines

Positive economic indicators recorded in early 2025: Gov't spokesperson
14:10 | 06/02/2025 Headlines