ADB commits to accompanying Vietnam’s development: country director

The Asian Development Bank (ADB) is committed to quickly and effectively implement its Country Partnership Strategy (CPS) for Vietnam and accompany the country in its development process, new Country Director for Vietnam Shantanu Chakraborty has affirmed.

Making the remarks at his July 28 meeting with Minister of Planning and Investment Nguyen Chi Dung in Hanoi, he told his host that the bank’s CPS in Vietnam for 2023-2026 aims to promote comprehensive, green development and the growth of the private sector to help the Southeast Asian nation become an upper middle-income country by 2030 and a developed, high-income country by 2045.

The new ADB country director stated that during his tenure, he will continue to prioritise support activities for Vietnam.

Vietnam is currently the most dynamic growing country in the region, and the ADB is eager to assist the nation in effectively addressing current challenges and achieving set goals, said Chakraborty.

In response, Dung expressed his wish for the maintaining and fostering of the fruitful cooperation between the bank and Vietnam and spoke highly of ADB’s support priorities with the CPS framework, which align with Vietnam’s development orientations, especially concerning infrastructure development, human resources training, institution improvement, and climate change response.

He proposed that the ADB continue to support Vietnam in accessing concessional funding and accelerate the progress of its project implementation ensuring compliance with Vietnamese laws. Additionally, he said he hopes that the bank will support Vietnam in accessing more non-refundable grants.

On this occasion, Dung also proposed that the ADB continue to consider and support Vietnam in accessing green financial sources to achieve its ambitious goals in the transition to a fair energy system and achieve net-zero carbon emissions by 2050, as well as in establishing an international financial centre in Ho Chi Minh City./.

Source: Vietnam News Agency