ADB contributions to socio-economic development treasured

PM Nguyen Xuan Phuc speaks at the 50th anniversary of the establishment of the Asian Development Bank in Ha Noi on December 2, 2016. Photo: VGP

He said that the opening of the ADB representative office in Viet Nam in December 1996 is an important landmark in the Viet Nam-ADB relationship.

Both sides have signed and implemented more than 160 programs and projects worth around US$16 billion, including official development assistance and consessional loans.

The ADB-funded projects cover a wide range of areas with a focus on supporting equal and sustainable growth and they have been effectively implemented, helping to transform Viet Nam from a poor and backward nation to become a middle income country with extensive and intensive international integration, PM Phuc said.

ADB has also conducted policy consultation and exchanges with the Vietnamese Government over the past years. Its studies and reports on Vietnamese economy are the good reference documents for the Government, he added.

The Government chief affirmed that Viet Nam will continue drastic reform programs, maintaining macro-economic stability, improving institutions and investment environment, developing workforce, protecting the environment and adapting to climate change, ensuring social security to lay a firm foundation for long-term development.

In that process, PM Phuc expressed his hope that bank and its office in Viet Nam will work closely with ministries and localities to successfully realize the Viet Nam-ADB Country Partnership Strategy for the 2016-2020 period.

He also asked the institution to continue working with Viet Nam in regional mechanisms like the Mekong subregion, ACMECS, CLMV and CLV to enhance economic and infrastructure connectivity, poverty reduction, and climate change response.

Speaking at the event, ADB Country Director Eric Sidgwick highlighted that Viet Nam has achieved fast and firm growth during the past 20 years.

By Kim Anh