HCMC – The World Bank and the authority of Phu Yen Province on June 12 signed a memorandum of understanding, establishing a partnership for strategic engagements during the 2020-25 period, with a focus on mainstreaming urban resilience, delivering high-quality and efficient infrastructure services and fostering development in the tourism and fishery sectors.
The framework will enable the south-central province of Phu Yen to better leverage the lender’s global knowledge and financial resources to achieve its socio-economic goals and realize its vision of becoming an industrial and tourism hub for Vietnam and Southeast Asia.
“Phu Yen is rapidly evolving and so is our partnership,” said Ousmane Dione, World Bank Country Director for Vietnam, adding, “We are excited to expand our support to Phu Yen’s efforts to build a sustainable marine economy and boost regional economic integration.”
Once left behind, Phu Yen began thriving, outperforming the nation in average gross domestic product growth since 2008.
Located at a crossroad in the south-central region of the country with some 200 kilometers of coastline, the province holds great potential to emerge as a critical link for economic exchange in the region.
The two sides will establish a platform to conduct regular and strategic discussions, share knowledge and lessons learned and pool and leverage resources and expertise.
They will collaborate on a wide range of initiatives including support for the local Socio-economic Development Plan for 2021-2030, smart city and e-governance initiatives and public-private partnerships.
By Gia Phong