PM hopes for more fruitful Việt Nam-ADB partnership

March 13,90 phut live 2024 - 21:26 Your browser does not support the audio element. The Asian Development Bank has financed about 600 programmes and projects in Việt Nam with total funding of nearly US$18 billion, covering agriculture, rural areas, education, health care, energy and urban infrastructure.

Prime Minister Phạm Minh Chính and Asian Development Bank President Masatsugu Asakawa at the 30th anniversary between Việt Nam and the bank on Wednesday. — VNA/VNS Photos Dương Giang

HÀ NỘI — Việt Nam and the Asian Development Bank (ADB) have enjoyed a fruitful cooperation over the past 30 years, and this partnership is expected to further grow in the coming decades, said Prime Minister Phạm Minh Chính.

Addressing a ceremony commemorating the 30th anniversary of their collaboration in Hà Nội on Wednesday, the PM expressed his appreciation for the bank’s support to Việt Nam, especially in areas such as infrastructure development, poverty reduction, education and health care, with a special focus on remote, border and island areas.

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

As a developing country with an evolving economy, Việt Nam requires financial aid, policy consultation, and assistance in institutional building and perfection from the bank. This is particularly important for the institution of the socialist market-oriented economy, said the PM.

He suggested the two sides focus on specific and key cooperation programmes and projects that can help Việt Nam achieve rapid, sustainable, and inclusive growth, ensuring that no one is left behind.

According to the Vietnamese Government leader, collaboration priorities should be given to several key areas, including climate change response, green transition, digital transformation, green economy, circular economy, sharing economy, and emerging sectors like semiconductors, artificial intelligence (AI), big data, and new energy.

A report presented at the event shows that the Asian Development Bank (ADB) has financed approximately 600 programmes and projects in Việt Nam, with a total funding of nearly US$18 billion. These projects cover various sectors such as agriculture, rural areas, education, health care, energy, and urban infrastructure.

It has also provided $6.45 billion for trade transactions through commercial banks in Việt Nam.

During the fight against the COVID-19 pandemic, the ADB granted non-refundable aid worth hundreds of millions of US dollars to help Việt Nam 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 Chính received ADB President Masatsugu Asakawa, who is in Việt Nam for the celebration.

PM Phạm Minh Chính (right) receives ADB President Masatsugu Asakawa on Wednesday, prior to the celebration event.

The PM affirmed that the Vietnamese Government always considers the ADB an important, close and reliable development partner, and attributed Việt Nam's achievements to the bank’s effective cooperation and support.

For his part, Asakawa emphasised that the ADB always pays attention to and supports Việt Nam 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 Việt Nam 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 for about 23 projects in Việt Nam 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 Việt Nam. — VNS