At the signing ceremony in Hanoi on June 12, WB Country Director in Vietnam Ousmane Dione expressed his pleasure to expand support for Phu Yen’s efforts to build a sustainable marine economy and boost regional economic integration.
The WB said the framework will enable Phu Yen to better leverage the lender’s global knowledge, financial resources and convening power to achieve its socio-economic goals and realise the vision of becoming an industrial and tourism hub for Vietnam and Southeast Asia.
Priority areas include mainstreaming urban resilience, delivering high-quality and efficient infrastructure services and fostering development in tourism and fishery sectors.
Phu Yen has outperformed the nation in average GDP growth since 2008. Locating at a crossroad in the south-central region of the country, and having nearly 200km of coastline, the province holds great potential to become 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.