HCM City looks to boost cooperation with ADB hinh anh 1At the reception (Photo: VNA)

HCM City (VNA)Ho Chi Minh City always considers the Asian Development Bank (ADB) as its important and long-term development partner, Vice Chairman of the municipal People’s Committee Vo Van Hoan has said.

During a reception for ADB’s new Country Director in Vietnam Andrew Jeffries on November 13, Hoan expressed his belief that the official, with his working experience at ADB and extensive knowledge in economics and diplomacy, will contribute to further promoting the relationship between ADB and Vietnam in general, and between the bank and HCM City in particular.

Hoan said that projects using ADB loans have significantly contributed to the city’s socio-economic development and improvement of living conditions of local people.

While mentioning difficulties and challenges facing HCM City, the official said the city needs capital sources, including those from ADB to support its development, expressing his hope that Jeffries will help accelerate the disbursement of ADB loans, and create favourable conditions for the city to access its preferential loans.

Hoan also urged the two sides to continue to effectively implement the contents of signed cooperation agreements.

For his part, Jeffries affirmed ADB will be an important partner of HCM City, and accompany the city during its development process.

ADB is working on a Country Partnership Strategy for the next five years which is in line with the Vietnamese Government's socio-economic development strategy, with the hope of strengthening its partnership with Vietnam and HCM City, he said.

While recognising HCM City as Vietnam’s economic momentum, Jeffries said that ADB hopes to receive consultancy from the city, thus helping to build the strategy in accordance with the general orientations of Vietnam and meeting specific requirements of the city for its development objectives.

At the meeting, the two sides reviewed the implementation of underway projects funded by ADB’s loans and discussed cooperation orientations in the time to come./.