The Asian Development Bank (ADB) is willing to increase its efforts to support Vietnam’s development process, ADB President Takehiko Nakao told State President Truong Tan Sang during their meeting in Hanoi on September 18.

President Sang valued ADB’s contributions to socio-economic development in Vietnam in the past years, helping strengthen the bonds between the two sides in a practical and effective manner.

Vietnam is undertaking efforts to stabilise its macro-economy, achieve sustainable growth, and steer clear of the middle-income trap. To do so, Vietnam needs more help from the bank in the fields of capital provision, policy consultation, human resources training and agricultural development, he added.

The leader said in order to increase international integration Vietnam has amended laws, improved infrastructure, and enhanced the business climate to attract more foreign investment.

ADB President Takehiko Nakao expressed his admiration for the country’s achievements during its renewal process and spoke highly of its measures to curb inflation, reform State-owned enterprises, revive growth, and stabilise the macro-economy.

In recent years, the bank helped Vietnam improve traffic systems, effectively manage water and energy resources, and implement the Greater Mekong Sub-region initiative to connect the country with its neighbours, he said.

The ADB executive asked Vietnam to accelerate policy improvements, work harder to attract foreign direct investment, facilitate business operations, and move the disbursement of ADB capital sources along.-VNA