ADB partners with Vietnam in green growth.

NDO - During a meeting with the Vice President of the Asian Development Bank (ADB), Scott Morris, the Governor of the State Bank of Vietnam, Nguyen Thi Hong, emphasized that the ADB is a leading development partner, always accompanying Vietnam in key areas such as infrastructure, energy, education, health, urban development, and more recently, green growth, climate change response, and sustainable development.

On the afternoon of April 14th in Hanoi , the Governor of the State Bank of Vietnam, Nguyen Thi Hong, held a meeting with Mr. Scott Morris, Vice President of the Asian Development Bank (ADB). Mr. Scott Morris is visiting Vietnam at the invitation of Prime Minister Pham Minh Chinh to attend the High-Level Forum of the Partnership for Green Growth and Global Goals 2030 (P4G) Summit on April 16th, 2025 in Hanoi.

During the meeting, Governor Nguyen Thi Hong welcomed Mr. Scott Morris to visit and work with the State Bank of Vietnam , and highly appreciated the effective, strong, and long-standing cooperative relationship between Vietnam and the ADB over the past three decades.

At the same time, the Governor emphasized that ADB is a leading important development partner, always accompanying Vietnam in key areas such as infrastructure, energy, education , health, urban development, and more recently, green growth, climate change response, and sustainable development.

The two sides had in-depth discussions on strategic cooperation directions, notably the promotion of ADB's government lending activities in Vietnam. The Governor highly appreciated ADB's active coordination with relevant government agencies towards the signing of the Inclusive and Climate-Resilient Infrastructure Project for Ethnic Minority Regions II (CRIEM II), scheduled for April 16, 2025, and requested ADB to continue improving procedures, being more flexible in financial structures, and reducing borrowing costs to enhance capital efficiency.

According to Governor Nguyen Thi Hong, the Vietnamese government is in the process of implementing many important tasks aimed at reforming and reorganizing the administrative apparatus towards a streamlined, effective, and efficient model.

At the same time, the Government focuses on improving the quality of its staff and actively removing institutional obstacles and reforming administrative procedures to enhance the efficiency of the state apparatus.

“These are fundamental steps in the reform process, creating a foundation to promote sustainable socio-economic development. To achieve the set economic development goals, in addition to factors such as capital, innovation, and digital transformation – the main drivers of growth – the role of international development organizations, including the ADB, is extremely important in supporting Vietnam to effectively mobilize external financial resources for economic development,” the Governor of the State Bank of Vietnam shared.

Governor of the State Bank of Vietnam, Nguyen Thi Hong, highly appreciated ADB's readiness and efforts in mobilizing capital for private sector investment in recent times.

Regarding ODA-funded projects in general, Governor Nguyen Thi Hong also stated that the Government is actively reviewing and improving the institutional and legal framework to enhance the efficiency of loan utilization.

At the same time, the Government directed relevant ministries and agencies to focus on addressing and resolving difficulties and obstacles in the implementation of ODA-funded projects. On the ADB's side, Vietnam hopes that the ADB will consider providing loans with more favorable interest rates, or combining various forms of financing and technical assistance during project preparation and implementation, in order to enhance the effectiveness of cooperation between the two sides.

Regarding private sector cooperation, the Vietnamese Party, State, and Government have always affirmed the important role of the private economy in economic development, considering it a crucial foundation that makes a significant contribution to the Vietnamese economy.

"As an international financial institution with extensive capabilities and experience in private sector development, the State Bank of Vietnam highly appreciates ADB's readiness and efforts in mobilizing capital for private sector investment in recent years, thereby supporting and contributing to promoting the development of the private sector, making it a pillar of the economy," the Governor emphasized.

Mr. Scott Morris, Vice President of the Asian Development Bank, spoke at the meeting.

Speaking at the meeting, Mr. Scott Morris highly appreciated Vietnam's efforts in institutional reform and macroeconomic management results, and affirmed ADB's readiness to support the expansion of long-term financing for the Government's priority areas such as transport, energy, digital transformation, and green development.

Mr. Scott Morris emphasized that Vietnam is one of the leading countries in sustainable development in the region, and ADB is committed to being a reliable long-term partner.

At the end of the working session, both sides agreed to continue maintaining regular policy dialogue, strengthening technical coordination, and jointly developing strategic cooperation programs to contribute to realizing Vietnam's socio-economic development goals in the coming period.

Source: https://nhandan.vn/adb-dong-hanh-cung-viet-nam-trong-tang-truong-xanh-post872572.html