ADB accompanies Vietnam in green growth

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

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

At the reception, 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-term cooperative relationship between Vietnam and 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 recently green growth, climate change response and sustainable development.

The two sides had in-depth discussions on strategic cooperation orientations, notably promoting ADB's government lending activities in Vietnam. The Governor appreciated ADB's active coordination with relevant government agencies to sign the Inclusive and Climate Resilient Infrastructure for Ethnic Minority Areas II (CRIEM II) Project, scheduled for April 16, 2025, and requested ADB to continue improving procedures, be more flexible in financial structures and reduce borrowing costs to improve capital efficiency.

According to Governor Nguyen Thi Hong, the Vietnamese Government is in the process of implementing many important tasks to reform and reorganize the administrative apparatus in a streamlined, effective and efficient direction.

At the same time, the Government focuses on improving the quality of its staff and actively removing institutional obstacles and reforming administrative procedures to improve 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 ADB, is extremely important in supporting Vietnam to effectively mobilize external financial resources for economic development,” the Governor of the State Bank shared.

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

Regarding ODA loan projects in general, Governor Nguyen Thi Hong also said that the Government is actively reviewing and perfecting institutions and legal frameworks to improve the efficiency of loan use.

At the same time, the Government directed relevant ministries and branches to focus on handling and removing difficulties and obstacles in the implementation of ODA loan projects. On the ADB side, Vietnam hopes that ADB will consider providing loans with more preferential interest rates, or combining forms of funding and technical assistance during the preparation and implementation of projects, in order to improve the effectiveness of cooperation between the two sides.

Regarding private sector cooperation, the Party, State and Government of Vietnam always affirm the important role of the private economy in economic development, which is an important foundation that makes a great contribution to the Vietnamese economy.

“As an international financial institution with extensive capacity and experience in private sector development, the State Bank highly appreciates ADB’s readiness and efforts to mobilize capital for investment in the private sector in recent times, thereby supporting and contributing to promoting the development of the private sector, becoming 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 institutional reform efforts and macroeconomic management results, and affirmed that ADB is ready to support long-term financial expansion 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 and long-term partner.

At the end of the working session, the two sides agreed to continue maintaining regular policy dialogue, enhancing technical coordination and jointly building strategic cooperation programs, contributing 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