Minister of Planning and Investment Nguyen Chi Dung and the Asian Development Bank's new country director in Vietnam Shantanu Chakraborty. (Photo: VietnamPlus)
Hanoi (VNA) – The new country director of the Asian Development Bank (ADB) in Vietnam praised the close cooperation of the Ministry of Planning and Investment, affirming the bank will support Vietnam to effectively solve challenges and realize set targets in socioeconomic development.
ADB new country director Shantanu Chakraborty, said Vietnam is currently the most dynamic country in the region, and the bank is eager to assist the nation in effectively addressing current challenges and achieving set goals as it continues its fast-paced growth.
The bank is committed to quickly and effectively implementing its Country Partnership Strategy (CPS) for Vietnam and accompany the country in its development process, the new Country Director for Vietnam Shantanu Chakraborty affirmed.
Making the remarks at his July 28 meeting with Minister of Planning and Investment Nguyen Chi Dung in Hanoi, he told his host that the bank’s CPS in Vietnam for 2023-2026 aimed to promote comprehensive, green development and the growth of the private sector to help the Southeast Asian nation become an upper middle-income country by 2030 and a developed, and high-income country by 2045.
The new ADB country director said that during his tenure, he would continue to prioritise support activities for Vietnam.
In response, Dung expressed his wish for maintaining and fostering fruitful cooperation between the bank and Vietnam and spoke highly of ADB's support priorities with the CPS framework, which align with Vietnam's development orientations, especially concerning infrastructure development, human resources training, institution improvement, and climate change response.
He proposed that the ADB continue to support Vietnam in accessing concessional funding and accelerate the progress of its project implementation ensuring compliance with Vietnamese law. Additionally, the minister said he hoped that the bank would support Vietnam in accessing more non-refundable grants.
ADB has always been an important development partner for Vietnamese agencies and ministries, providing timely technical, resource and financial support and policy advice and making significant contributions to the to realise Vietnam's socio-economic development goals. (Photo: VietnamPlus)
Minister Nguyen Chi Dung also highly appreciated ADB's support priorities within the framework of the Country Partnership Strategy for the period of 2023-2026, in line with Vietnam's development orientation. Specifically, in infrastructure development, human resource training, institutional strengthening, and climate change response.
On this occasion, Minister Nguyen Chi Dung thanked ADB for its strong commitment in implementing six out of 16 projects on "Sustainable development of the Mekong Delta to adapt to climate change" (Project Mekong DPO). These projects are extremely important to the development of the region.
On the other hand, the minister also proposed that the ADB continue to consider and support Vietnam in accessing green financial sources to achieve its ambitious goals in the transition to a fair energy system and achieve net-zero carbon emissions by 2050. Especially support and accompany Vietnam to form the International Financial Center in Ho Chi Minh City, towards achieving the transformation of the growth model based on science-technology and creative innovation.
The ADB on July 24 appointed Shantanu Chakraborty as its new Country Director for Vietnam, succeeding Andrew Jeffries who ended his term as Country Director on April 27.
Chakraborty will lead ADB’s operations in the country, represent the bank in policy dialogue, and further foster its relationship with the government and other stakeholders. He will supervise the implementation of the country partnership strategy for 2023–2026, which focuses on Vietnam’s transition to a green economy, harnessing the private sector, and promoting social equity.
Established in 1966, ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. It has committed 457 public sector loans, grants, and technical assistance totaling 16.5 billion USD to Vietnam.
Minister of Planning and Investment Nguyen Chi Dung receives Shantanu Chakraborty, Country Director of the Asian Development Bank (ADB) in Vietnam, on the occasion of the start of his new term in the country. (Photo: VietnamPlus)
