Sunday, August 20, 2017 - 20:54:16

Development partners pledge support for Vietnam

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Vietnam’s partners will continue to support the country in achieving its development targets in the coming years, said Country Director of the Asian Development Bank Tomoyuki Kimuara at the seventh Aid Effectiveness Forum in Hanoi on November 26.

Speaking at the event, Deputy Minister of Planning and Investment Nguyen The Phuong highly valued relevant parties’ efforts to build and implement the Busan Partnership Document and the Vietnam Partnership Document to make development cooperation and aid more effective.

At the forum, held annually by the ministry on the threshold of the Vietnam Development Partnership Forum (VDPF), participants discussed Vietnam’s prospects for development cooperation on the basis of 20-year ties between the country and donors in the new stage of its development.

Donors and international non-governmental organisations noted that although Vietnam is a middle income country, it still needs aid to ensure its sustainable development and avoid the “middle income” trap.

Vietnam should have better orientations, policies and solutions to effectively use fewer preferential loans and exploit other financial resources for development, when ODA is on the decline, they added.

They also suggested the country foster technical cooperation, share experience and transfer technologies through north-south cooperation between developing and developed countries, south-south among developing countries, and triple-sided cooperation between developing countries with financial support from donors.

Participants discussed and agreed on the forum’s activities in the 2014-2016 medium-term plan, which emphasises the role of Vietnam’s contributions to regional and international aid effectiveness forums, especially the Global Partnership Summit in Mexico next April and the UN post-2015 Development Agenda.

They also adopted the forum’s message to the VDPF held in Hanoi on December 5.-VNA
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