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Vietnam hopes for more ADB support: PM Phuc

As Vietnam is in need of resources for its production recovery, the country hopes for more support from the Asian Development Bank (ADB) to develop major fields such as infrastructure and smart agriculture, PM Nguyen Xuan Phuc said yesterday.

Vietnam hopes for more ADB support: PM Phuc hinh anh 1

Prime Minister Nguyen Xuan Phuc (R) receives ADB Country Director for Vietnam Eric Sidgwick 

 

He made the request while hosting a reception for ADB Country Director for Vietnam Eric Sidgwick in Hanoi.

PM Phuc said that Sidgwick’s tenure in Vietnam in the past five years has been a success, as evaluations and policy consultations of the ADB and the official are of great importance to the country’s economic development.

The Vietnamese Government views the ADB as one of its leading benefactors in regards to financial and technical assistance and counseling, he said, voicing his gratitude to the ADB’s technical support in the building of the e-Cabinet system.

The Government is in favour of ADB Strategy 2030, in the hope of realising the United Nations’ Sustainable Development Goals and continuing to help country members tackle problems of hunger and poverty, development gap and climate change, among others.

He also thanked the ADB for its counseling for the Government to respond to COVID-19 in recent times, adding the Vietnamese Government has exerted efforts to complete legal frameworks on public investment and public debt management for the sake of efficient and transparent use of foreign loans.

For his part, Sidgwick said that during his tenure, he was able to witness the sound cooperation between the ADB and Vietnam as well as the country’s development, noting Vietnam has effectively used resources distributed by the bank.

That Vietnam has successfully brought the COVID-19 pandemic under control is considered a remarkable achievement of the Vietnamese Government and people, he said, adding the ADB hopes to share Vietnam’s success in battling the pandemic and economic recovery among its members.

ADB forecasts that Vietnam could obtain GDP growth of between 4-4.1 percent, and even higher in this year.

The bank will devise a new country partnership strategy early next year and consider specific strategies and assistance to Vietnam, Sidgwick said.

PM receives outgoing WB Country Director

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Prime Minister Nguyen Xuan Phuc (R) and WB Country Director in Vietnam Ousmane Dione

 

Prime Minister Nguyen Xuan Phuc lauded outgoing Country Director of the World Bank (WB) in Vietnam Ousmane Dione for his impressive contributions to the ties between the lender and the country, during a reception in Hanoi on June 22.

The PM suggested that on his capacity as WB Country Director for four African countries in the near future, Dione will serve as a bridge to expand Vietnam’s exports to Africa.

He thanked the lender for its important contributions to Vietnam’s development, including poverty reduction projects, supply of loans and technical consultation to the finance-banking sector.

The host also expressed thanks to the WB for supporting Vietnam in the fight against COVID-19.

Dione, for his part, congratulated Vietnam on becoming an example of COVID-19 response in the world thanks to drastic directions of the Government.

He expressed his delight that the Vietnamese Government has taken note of the WB’s policy recommendations and proposed that Vietnam further step up digital transformation, offer services to the public faster and improve the operation efficiency of the State apparatus.

Speaking highly of the PM’s directions to attract more foreign direct investment, Dione said the Government’s issuance of Decree 56 on the management and use of official development assistance and preferential loans by foreign sponsors is necessary.

On water resources in Mekong River and the Mekong Delta, Dione highlighted the need to promote international cooperation in dealing with the issue and affirmed that the WB and his successor will always stand side by side with Vietnam during development process.

About the WB’s fiscal projects 2020, the PM thanked Dione for assisting Vietnam in graduating from the International Development Assistance (IDA), informing his guest that he has assigned the Finance Ministry to work with the WB on COVID-19 response loans, adding that the ministry and the Ministry of Planning and Investment have also been assigned to collect the WB’s recommendations./.VNA

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