ADB vows to give stronger support to Vietnam
President of the Asian Development Bank (ADB) Takehiko Nakao has pledged that the bank will continue to strongly support Vietnam with loans of about 1 billion USD each year, to the fields of infrastructure construction, urban public transport.
Speaking at a press conference in Hanoi on June 17 concluding his three-day Vietnam visit, ADB President Takehiko Nakao said that major objective of the strategy is to assist Vietnam in strengthening uniform and sustainable growth to match the country’s socio-economic development plan in the 2016-2020 period.
Vietnam should continue realising suitable economic policies as well as in-depth renovation, he suggested, stressing the importance of restructuring State-owned enterprises by reducing State ownership and improving business management and financial efficiency.
The ADB President recommended that the Vietnamese Government tackle bad debts, increase tax income and streamline public expenditure.
He said that the ABD expects a 6.7% growth this year, equal to that of 2015 despite the serious drought has affected to the country. Meanwhile, inflation is forecast to hold at 3%, 0.6% higher than last year. A 6.5% growth rate is also predicted for 2017.
President Takehiko Nakao announced that the ADB will assist Vietnam ’s efforts in fulfilling its sustainable development goals, expanding public healthcare stations and increasing the number of people joining health insurance in the coming time.
ADB President has pledged that the bank will continue to strongly support Vietnam with loans of about 1 billion USD each year, an increase in concessional loans to the fields of infrastructure construction, urban public transport, electricity transmission, rural electrification, urban renewable energy infrastructure, irrigation and water resource management, and accelerate the disbursement of loans for pfojects..
The ADB will boost strong support to Vietnam in improving secondary education, while increasing assistance in education and vocational training, he stated.
Noting that Vietnam is increasingly burdened by the impacts of climate change, President Takehiko Nakao highlighted that climate change adaptation will be one of ABD’s main areas to provide technical assistance and loans.
The ADB will help the Vietnamese Government design clear policies on suitable energy distribution to match its COP21 commitments, he added.
On infrastructure systems, the bank will give more power to its representative offices in the process of approving related projects, while incorporating more updated and green technologies into its projects to deal with climate change and reduce costs, he stated.
The President affirmed that the bank will also invest more to the private sector, especially those in the areas of finance, agriculture and infrastructure, while preparing major public-private partnership (PPP) projects to suit the agreed legal framework for such projects.
President of the Asian Development Bank Takehiko Nakao speaks at the press conference in Hanoi on June 17.
|
The ADB President recommended that the Vietnamese Government tackle bad debts, increase tax income and streamline public expenditure.
He said that the ABD expects a 6.7% growth this year, equal to that of 2015 despite the serious drought has affected to the country. Meanwhile, inflation is forecast to hold at 3%, 0.6% higher than last year. A 6.5% growth rate is also predicted for 2017.
President Takehiko Nakao announced that the ADB will assist Vietnam ’s efforts in fulfilling its sustainable development goals, expanding public healthcare stations and increasing the number of people joining health insurance in the coming time.
ADB President has pledged that the bank will continue to strongly support Vietnam with loans of about 1 billion USD each year, an increase in concessional loans to the fields of infrastructure construction, urban public transport, electricity transmission, rural electrification, urban renewable energy infrastructure, irrigation and water resource management, and accelerate the disbursement of loans for pfojects..
The ADB will boost strong support to Vietnam in improving secondary education, while increasing assistance in education and vocational training, he stated.
Noting that Vietnam is increasingly burdened by the impacts of climate change, President Takehiko Nakao highlighted that climate change adaptation will be one of ABD’s main areas to provide technical assistance and loans.
The ADB will help the Vietnamese Government design clear policies on suitable energy distribution to match its COP21 commitments, he added.
On infrastructure systems, the bank will give more power to its representative offices in the process of approving related projects, while incorporating more updated and green technologies into its projects to deal with climate change and reduce costs, he stated.
The President affirmed that the bank will also invest more to the private sector, especially those in the areas of finance, agriculture and infrastructure, while preparing major public-private partnership (PPP) projects to suit the agreed legal framework for such projects.
15:51, 2025/02/24
Vietnam set to have digital banks within financial centers
Credit institutions headquartered in these financial centers will not be bound by restrictions on to foreign ownership or foreign investment conditions when providing services there or across borders.
14:30, 2025/02/15
Hanoi expands cashless parking pilot program
Hanoi is advancing its efforts to integrate technology into urban management by expanding the pilot program for cashless parking payments throughout the city.
16:58, 2025/02/11
Prime Minister urges banks to prioritize economic support over profits
One of the key priorities for the banking sector is to support small and medium-sized enterprises (SMEs), as they generate a large number of jobs and contribute significantly to the economy.
17:23, 2025/02/07
Vietnamese Gov’t forecasts CPI growth of up to 4.5% in 2025
With the goal of at least 8% GDP growth, the money supply in the economy will be significantly larger than in 2024. This will have an impact on price indices, particularly consumer prices.
17:51, 2025/01/07
Vietnam prioritizes agriculture and renewable energy for access to green loans
The move is part of the government’s effort to accelerate economic restructuring and build resilience to climate change while protecting the environment.
16:49, 2025/01/06
Vietnam GDP expands by 7.09% in 2024
The 2024 growth rate is considered positive amidst global uncertainties and domestic challenges such as natural disasters.
- Vietnam stock market set to accelerate in 2025: Experts
- Vietnam stock market aims for emerging status by 2025: Finance minister
- Vietnam set to extend VAT cut for six months
- Vietnam’s credit growth projected to expand by 16% in 2025
- Regional, international financial centers mean boosters to Vietnamese economy: Deputy PM
- IFC sets record with US$1.6 in climate financing to support Vietnam’s green transition