Politics

PM hopes for more fruitful Vietnam-ADB partnership

Vietnam and the Asian Development Bank (ADB) have cooperated fruitfully over the past 30 years, and their cooperation is expected to grow further in the next three decades, Prime Minister Pham Minh Chinh said on March 13.
PM hopes for more fruitful Vietnam-ADB partnership ảnh 1Prime Minister Pham Minh Chinh (left) and ADB President Masatsugu Asakawa at the celebration. (Photo: VNA)
Hanoi (VNA) – Vietnam and the AsianDevelopment Bank (ADB) have cooperated fruitfully over the past 30 years, andtheir cooperation is expected to grow further in the next three decades, PrimeMinister Pham Minh Chinh said on March 13.

Addressing a ceremony in Hanoi marking the 30 years ofthe partnership, the PM appreciated the bank’s support toVietnam, especially in infrastructure development, poverty reduction, educationand health care, particularly in remote, border and island areas.

It is the ADB that has inspired other partners tocooperate and support Vietnam in development, he stressed.

As a developing country with an evolving economy, amodest economic scale, and limited resilience to shocks, Vietnam needs bothfinancial aid and policy consultation from the bank, as well as its assistancein institutional building and perfection, especially the institution for the socialistmarket-oriented economy, Chinh said.

He suggested the two sides choose specific,focused, key cooperation programmes and projects to help Vietnam grow rapidly,sustainably and inclusively, with no one left behind.

Collaboration priorities should be given to climatechange response, green transition, digital transformation, green economy,circular economy and sharing economy, along with emerging sectors likesemiconductors, artificial intelligence (AI), big data, and new energy, theleader suggested.

According to a report presented at the event, the ADB hasfinanced about 600 programmes and projects in Vietnam with total funding ofnearly 18 billion USD, covering agriculture, rural areas, education, healthcare, energy and urban infrastructure.

It has also provided 6.45 billion USD for tradetransactions through commercial banks in Vietnam.

During the fight against the COVID-19 pandemic, the ADBgranted non-refundable aid worth hundreds of millions of US dollars to helpVietnam purchase protective equipment, upgrade medical equipment, churn out pharmaceuticalproducts, and support small and medium-sized and women-led businesses.

Earlier the same day, PM Chinh received ADB President MasatsuguAsakawa, who is in Vietnam for the celebration.
 
The PM affirmed that the Vietnamese government alwaysconsiders the ADB an important, close and reliable development partner, and attributedVietnam’s achievements to the bank’s effective cooperation and support.

For his part, Asakawa emphasised that the ADB alwayspays attention to and supports Vietnam in socio-economic development, andwishes to work together with the country to launch result-oriented cooperationprojects.

The bank can provide financial aid for Vietnam toimplement projects in green transition, energy transition and infrastructure, andhelp the country in emerging industries, he said, suggesting the Vietnamesegovernment work to speed up the implementation of cooperation projects.

Lauding ADB's efforts in mobilising resources of up to3 billion USD for about 23 projects in Vietnam in the 2023 – 2026 period, the PMcalled on the ADB to coordinate with Vietnamese ministries and agencies to quicklyput in place specific projects in 2024.

He also proposed the establishment of a joint workinggroup to push ahead with capital cooperation and policy support for Vietnam./.
VNA
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