Vietnam and ADB Celebrate 30 Years of Fruitful Partnership
Ha Noi, The Gulf Observer: Prime Minister Phạm Minh Chính hailed the robust and mutually beneficial collaboration between Vietnam and the Asian Development Bank (ADB) over the past three decades, expressing optimism for continued growth in their partnership in the years ahead.
Speaking at a ceremony commemorating the 30th anniversary of their cooperation in Hanoi on Wednesday, PM Chính conveyed his gratitude for the ADB’s unwavering support to Vietnam. He highlighted the bank’s significant contributions to various sectors including infrastructure development, poverty reduction, education, and healthcare, with particular emphasis on remote, border, and island regions.
The Prime Minister underscored the pivotal role of the ADB in inspiring other partners to engage and support Vietnam’s development endeavors.
As a developing nation with a dynamic economy, Vietnam relies on financial assistance, policy advice, and institutional capacity building from the ADB, particularly in the context of transitioning to a socialist market-oriented economy, PM Chính emphasized.
He proposed that both parties concentrate on specific and strategic cooperation programs and projects aimed at fostering rapid, sustainable, and inclusive growth, ensuring no segment of society is left behind.
Highlighting collaboration priorities, PM Chính emphasized key areas such as climate change response, green transition, digital transformation, green and circular economies, as well as emerging sectors like semiconductors, artificial intelligence, big data, and renewable energy.
A report presented at the event showcased the ADB’s significant contributions to Vietnam, including financing nearly 600 programs and projects totaling close to US$18 billion across various sectors such as agriculture, rural development, education, healthcare, energy, and urban infrastructure. Moreover, the ADB facilitated trade transactions worth $6.45 billion through commercial banks in Vietnam.
Amidst the challenges posed by the COVID-19 pandemic, the ADB provided substantial non-refundable assistance to Vietnam, aiding in the procurement of protective equipment, medical upgrades, pharmaceutical production, and support for small and medium-sized enterprises, particularly those led by women.
Earlier in the day, PM Chính held discussions with ADB President Masatsugu Asakawa, emphasizing Vietnam’s commitment to further strengthening cooperation with the ADB. Asakawa reaffirmed the ADB’s steadfast support for Vietnam’s socio-economic development, proposing concrete cooperation projects focused on green transition, energy, and infrastructure development. He also advocated for the expeditious implementation of cooperation projects and suggested the establishment of a joint working group to facilitate capital cooperation and policy support for Vietnam.
