Pour 18 billion USD for 30 years of cooperation, an international organization commits to providing an additional 3 billion USD to support Vietnam.

Recently, the State Bank of Vietnam collaborated with the Asian Development Bank (ADB) to celebrate 30 years of the Vietnam-ADB partnership.

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Accordingly, the Ceremony was attended by Prime Minister Pham Minh Chinh, Mr. Masatsugu Asakawa – ADB President, Governor of the State Bank of Vietnam Nguyen Thi Hong, leaders of ministries, agencies, international organizations in Hanoi.

Speaking at the meeting with ADB President and the celebration, Prime Minister Pham Minh Chinh affirmed that the Government of Vietnam always considers ADB as one of its important, friendly, reliable, and effective development partners; highly appreciates the presence of ADB President in Vietnam on the occasion of the 30-year cooperation milestone, demonstrating a strong message towards a far-reaching vision and more effective cooperation.

The Prime Minister emphasized that Vietnam appreciates and highly values ADB as a very enthusiastic partner in providing effective support in various fields. ADB’s support also provides motivation and inspiration for partners assisting Vietnam, contributing significantly to the achievements that Vietnam has achieved on the path of innovation, international integration, and sustainable development.

According to the Prime Minister, after 30 years, the cooperation between Vietnam and ADB has gained more experience and is in the most mature and resilient stage. On the other hand, Vietnam and Japan have become Comprehensive Strategic Partners, and the cooperation between the two sides is unlimited, as stated by Japanese Prime Minister Kishida Fumio, especially in the fields of science, technology, and innovation.

In the spirit of common victory, harmonious interests, shared risks, the Prime Minister hopes that ADB will continue to support Vietnam in terms of capital, technology, institution building, capacity building, human resources training, policy advice, motivation, and inspiration for other development partners, implementing programs and policies to promote sustainable growth, enhance the competitiveness of the economy, and achieve the country’s development goals by 2030 and 2045.

The Prime Minister proposed that the cooperation between the two sides focus on several key areas such as climate change response, strategic infrastructure projects, especially the Mekong Delta, emerging areas such as semiconductor chips, digital economy, green transformation, circular economy, sharing economy, private sector development.

In addition, the Prime Minister also proposed that ADB continue to provide policy advice, especially macroeconomic policy, monetary policy, and fiscal policy suitable to the rapidly changing situation at present, both short-term and long-term, especially in the face of unforeseen crises.

Regarding ADB, ADB President Masatsugu Asakawa shared that he has visited Vietnam many times, but this is the first visit in his capacity as ADB President. ADB leaders stated that the Vietnam-ADB relationship has rapidly developed and achieved many achievements over the past 30 years.

“Vietnam is one of the most active partners of ADB”, emphasized Mr. Masatsugu Asakawa.

During the past 30 years, ADB’s cumulative support for Vietnam has reached about USD 18 billion, improving regional connectivity, strengthening environmental management and green investment, promoting the process of adapting to climate change development; enhancing access to education, healthcare, and social services; as well as supporting the development of ethnic minority communities.

In the meetings, Mr. Asakawa re-affirmed ADB’s commitment to provide USD 3 billion in support to Vietnam in the 2024-2026 period and emphasized the necessity of enhancing project preparation efficiency to accelerate implementation progress.

In addition, ADB has committed to mobilize USD 2.1 billion under the Resource Mobilization Plan to support projects under Vietnam’s Energy Transition Partnership.