Deputy Minister of Finance Tran Quoc Phuong praised the German Government and Germany’s KfW Development Bank for their long-standing cooperation and support in Vietnam’s socio-economic development at a working session in Hanoi on May 27 with Christiane Laibach, member of the KfW Executive Board.

Deputy Minister of Finance Tran Quoc Phuong (R) and member of the KfW Executive Board Christiane Laibach.

KfW is a key development partner that has accompanied Vietnam through effective schemes and projects in infrastructure development, energy, environment, green growth and climate change response, Phuong said.

The bank has concentrated support on sectors where Germany has strengths and Vietnam has urgent needs, particularly vocational training and workforce upskilling, he said.

Phuong called workforce quality a breakthrough solution to achieve higher growth in coming years.

He also credited German experts with helping Vietnam develop integrated infrastructure planning for transport, erosion control and climate adaptation.

Following the Government’s approval of a plan for attracting, managing and utilising official development assistance (ODA) and concessional foreign loans for 2026-2030, Vietnam will give priority to projects with broad spillover effects, breakthrough potential and improved socio-economic infrastructure.

He flagged infrastructure projects that can drive transformational development at national, regional and local levels, while addressing environmental issues, climate change adaptation, sci-tech, innovation, energy transition, green transition and digital transformation.

These are areas where KfW has extensive experience and ample room to deepen cooperation with Vietnam, Phuong said.

Laibach, for her part, said infrastructure, workforce training, sci-tech, innovation, energy transition, green transition and digital transformation are all fundamental drivers of sustainable economic growth in the current context.

She praised the Vietnamese Government and the Ministry of Finance for shifting development borrowing toward those strategic sectors.

Laibach added that the private sector development is becoming a central pillar of Vietnam’s growth strategy, while investment in energy, transport and climate-resilient infrastructure would deliver tangible benefits for citizens and support long-term growth.

She said KfW is preparing three projects in Vietnam and expects them to be signed and launched on schedule, creating more opportunities for bilateral cooperation.

In reply, Phuong said the ministry will continue working closely with KfW to accelerate the projects as planned, ensuring that development financing is used effectively for the benefit of both sides.

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