Business

ADB pledges to assist in poverty elimination

The three pillars of reform identified by the Vietnamese Government are certainly appropriate, and if successful, they will put Vietnam on a path to sustainable economic growth.

Vice President of the Asian Development Bank in East Asia, Southeast Asia and the Pacific, Stephen P. Groff made this remark in an interview granted to Vietnam News Agency in Hanoi on Feb. 9.

Groff said that the restructuring of state-owned enterprises and the financial sector requires carefully designed roadmaps that are implemented in a sequenced manner over time, as well as sustained and unwavering political commitment to reforms during and beyond 2012.
The three pillars of reform identified by the Vietnamese Governmentare certainly appropriate, and if successful, they will put Vietnam on apath to sustainable economic growth.

Vice President of the Asian Development Bank in East Asia, SoutheastAsia and the Pacific, Stephen P. Groff made this remark in an interviewgranted to Vietnam News Agency in Hanoi on Feb. 9.

Groff said that the restructuring of state-owned enterprises and thefinancial sector requires carefully designed roadmaps that areimplemented in a sequenced manner over time, as well as sustained andunwavering political commitment to reforms during and beyond 2012.

He said that ADB plans to finance support for strengthening legalframeworks of the financial sector, developing a well-functioning moneymarket, and promoting a deeper and more liquid Government bond market,skills training in public institutions within the financial sector andthe development of a micro-finance sector.

In themedium term, ADB’s new Country Partnership and Strategy for 2012–2015will fully align with Vietnam’s socio-economic development plan for2011–2015 in terms of promoting sustainable and inclusive growth, whilemaintaining macroeconomic stability. ADB expects to continue itslevel of commitment at approximately 1.4 billion USD per year, subjectto each project’s readiness, Groff said.

RegardingADB’s focus for regional economies this years, Groff said that ADBwill continue to support efforts for high and sustainable growth tocreate productive jobs, supporting measures to ensure equal access toeconomic opportunities and resources, strengthening social safety netsto protect against economic shocks and prevent extreme poverty, andsupporting good governance and strong institutions.

As for recommendations to governments in East Asia, Southeast Asia andAsia Pacific, he said that Asia needs to continue pursuing the prudentand responsible fiscal policies that have proven helpful in bufferingthe region against impacts of the crisis, and actively participate inthe process of strengthening global and regional financial safety nets.

ADB is backing attempts to rebalance growth,helping Asian and Pacific countries to strengthen their own sources ofgrowth and dynamism, especially given the ongoing public debt andfinancial crisis in the Eurozone, Groff said./.
Follow VietnamPlus

See more

Buon Ma Thuot Coffee Festival wraps up on March 13. (Photo: VNA)

Buon Ma Thuot Coffee Festival wraps up

This year’s festival, themed “Buon Ma Thuot – Coffee City,” featured 17 official activities alongside various supporting events across the province. Notably, the festival coincided with the 50th anniversary of Buon Ma Thuot’s victory and the liberation of Dak Lak province (March 10, 1975 – 2025). The event attracted around 250,000 visitors, including 1,800 international guests, leaving a lasting impression with its vibrant cultural programmes rich in traditional identity.

Special Envoy of the Prime Minister, Minister of Industry and Trade Nguyen Hong Dien (R) and US Trade Representative Jamieson L. Greer (Photo: Ministry of Industry and Trade)

Vietnam, US strengthen economic, trade partnership

Vietnam’s consistent policy is to build harmonious, sustainable, stable, and mutually-beneficial economic and trade ties with the US, he stated, adding that Vietnam has no intention to create any barriers that could harm the US’s workers or economic and national security.

Mud crabs in Australia are similar to those from Ca Mau but priced very high. (Photo: VNA)

More Vietnamese products expected to enter Australian market

Among the various Vietnamese goods exported to Australia, agricultural, forestry, and aquatic products, along with fruits and vegetables, still have much room to grow. They are now widely available in Australia, even reaching remote areas such as the Northern Territory.

An aeroplane at the international terminal of Da Nang Airport. (Photo courtesy of AHT)

New air routes to link Da Nang with Kazakhstan

Kazakhstan's national flag carrier Air Astana and SCAT Airlines have scheduled flights from Almaty and Astana to Da Nang starting this June, after the two airlines worked with the Airports Corporation of Vietnam (ACV) to launch the new air routes.

Deputy Prime Minister Nguyen Chi Dung (R) receives Lien Andrew Michael, Vice President and General Director of Asian factories at Wanek Furniture Co., Ltd. (Photo: VNA)

Deputy PM receives Vice President of Wanek Furniture

Deputy Prime Minister Nguyen Chi Dung applauded Wanek Furniture's plan to expand its investment in Vietnam in the next five year, while encouraged the company to discuss any challenges with the Vietnamese Government during the expansion process.

Fuel prices cut for third consecutive time (Photo: VNA)

Fuel prices cut for third consecutive time

The price of E5RON92 gasoline is capped at 19,281 VND (0.76 USD) per litre, down 680 VND, while RON95-III is priced at no more than 19,649 VND per litre, a decrease of 753 VND.

Illustrative image (Photo: VNA)

Vietnam partners with Israel for hi-tech agricultural innovation

Vitad and Ginosar will establish a dedicated laboratory in Vietnam by the end of this year. Ginosar will leverage its infrastructure, genetic resources, and core technology to transfer lab capabilities to Vitad. This move will enable the company to develop superior crop varieties for large-scale cultivation, building extensive raw material zones to expand exports and create substantial economic value for Vietnamese farmers and businesses.

A corner of Hanoi capital city (Photo: VNA)

Hanoi to slash business conditions by at least 30%

In a document issued on March 11, the Hanoi People’s Committee stressed the need to mobilise all economic sectors, businesses and citizens to engage in socio-economic development, contributing to national growth. All institutional frameworks, mechanisms, and policies must be aligned with the objective.

Representatives from the Agriculture and Environment Newspaper and the German Agricultural Society (DLG) at the event (Photo: VNA)

Opportunities for German agribusinesses in Vietnam

The Agriculture and Environment Newspaper and the German Agricultural Society (DLG) will focus on key agricultural industries, facilitating knowledge and technology transfer between delegations from the two countries. Opportunities will also be explored to recognise individuals and organisations with significant contributions to agricultural development in both Vietnam and Germany.