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POLITICS




PM HOPES FOR MORE FRUITFUL VIETNAM-ADB PARTNERSHIP

Vietnam and the Asian Development Bank (ADB) have cooperated fruitfully over the
past 30 years, and their cooperation is expected to grow further in the next
three decades, Prime Minister Pham Minh Chinh said on March 13.

Wednesday, March 13, 2024 20:55
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Prime Minister Pham Minh Chinh (left) and ADB President Masatsugu Asakawa at the
celebration. (Photo: VNA)
Hanoi (VNA) – Vietnam and the Asian Development Bank (ADB) have cooperated
fruitfully over the past 30 years, and their cooperation is expected to grow
further in the next three decades, Prime Minister Pham Minh Chinh said on March
13.

Addressing a ceremony in Hanoi marking the 30 years of the partnership, the PM
appreciated the bank’s support to Vietnam, especially in infrastructure
development, poverty reduction, education and health care, particularly in
remote, border and island areas.

It is the ADB that has inspired other partners to cooperate and support Vietnam
in development, he stressed.

As a developing country with an evolving economy, a modest economic scale, and
limited resilience to shocks, Vietnam needs both financial aid and policy
consultation from the bank, as well as its assistance in institutional building
and perfection, especially the institution for the socialist market-oriented
economy, Chinh said.

He suggested the two sides choose specific, focused, key cooperation programmes
and projects to help Vietnam grow rapidly, sustainably and inclusively, with no
one left behind.

Collaboration priorities should be given to climate change response, green
transition, digital transformation, green economy, circular economy and sharing
economy, along with emerging sectors like semiconductors, artificial
intelligence (AI), big data, and new energy, the leader suggested.

According to a report presented at the event, the ADB has financed about 600
programmes and projects in Vietnam with total funding of nearly 18 billion USD,
covering agriculture, rural areas, education, health care, energy and urban
infrastructure.

It has also provided 6.45 billion USD for trade transactions through commercial
banks in Vietnam.

During the fight against the COVID-19 pandemic, the ADB granted non-refundable
aid worth hundreds of millions of US dollars to help Vietnam purchase protective
equipment, upgrade medical equipment, churn out pharmaceutical products, and
support small and medium-sized and women-led businesses.

Earlier the same day, PM Chinh received ADB President Masatsugu Asakawa, who is
in Vietnam for the celebration.
 
The PM affirmed that the Vietnamese government always considers the ADB an
important, close and reliable development partner, and attributed Vietnam’s
achievements to the bank’s effective cooperation and support.

For his part, Asakawa emphasised that the ADB always pays attention to and
supports Vietnam in socio-economic development, and wishes to work together with
the country to launch result-oriented cooperation projects.

The bank can provide financial aid for Vietnam to implement projects in green
transition, energy transition and infrastructure, and help the country in
emerging industries, he said, suggesting the Vietnamese government work to speed
up the implementation of cooperation projects.

Lauding ADB's efforts in mobilising resources of up to 3 billion USD for about
23 projects in Vietnam in the 2023 – 2026 period, the PM called on the ADB to
coordinate with Vietnamese ministries and agencies to quickly put in place
specific projects in 2024.

He also proposed the establishment of a joint working group to push ahead with
capital cooperation and policy support for Vietnam./.
VNA

#Vietnam #ADB #Prime Minister Pham Minh Chinh #ADB President Masatsugu Asakawa
#Vietnam #VietnamPlus #Vietnam news

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