Vietnam’s poverty rate shows continued drop

The information was revealed at a workshop in Hanoi on April 5 to disseminate the report “Climbing the ladder: poverty reduction and shared prosperity in Vietnam”.

The report indicates that Vietnam’s poverty rate continues to fall, 13% in the ethnic minority region, the highest over the last decade.

Meanwhile, poverty relapse reduced to 2% in the period 2014-2016. The report also summarized typical poverty cases and trends in Vietnam as well as suggested solutions to fully tap agricultural potential in mountainous areas which have high percentages of poor people.

 WB Country Director for Vietnam Ousmane Dione said, "One, undertaking the last infrastructure investment to connect the poor to better economic opportunities. Second, advancing agriculture structures so that the poor people in rural areas, especially those in highlands and mountainous regions, can cultivate crops or engage in agricultural activities that are more profitable. Third, building in Vietnam a successful and budget education to allow opportunities for children from all backgrounds to have equal chances to succeed, get qualified education and build their skills for future jobs." 

Ousmane Dione said the World Bank pledged for continued support for Vietnam’s efforts in poverty reduction and ensuring equal growth, fulfilling its goal to transform into a society without poverty. Inclusive growth is one of priorities in the World Bank’s Country partnership Framework for Vietnam in the next 2 years, said Dione, adding that the framework has set a concrete goal of boosting economic integration for poor and vulnerable people by creating economic development opportunities for people in disadvantaged areas.