Proposing ADB to support capital for large projects and Vietnam's private sector

On the morning of November 6, in Kunming city, Yunnan province, during his working trip to China, Prime Minister Pham Minh Chinh received Mr. Masatsugu Asakawa, President of the Asian Development Bank (ADB).

Prime Minister Pham Minh Chinh receives Mr. Masatsugu Asakawa, President of the Asian Development Bank (ADB) - Photo: VGP/Nhat Bac

Prime Minister Pham Minh Chinh thanked ADB for its 30 years of cooperation and development with Vietnam, and for allocating 2 billion USD in capital for projects in Vietnam in recent times; affirming that the Vietnamese Government always considers ADB as one of the important, close, and trustworthy development partners, with many practical contributions to Vietnam's development process.

The Prime Minister suggested that in the new development period, ADB continue to cooperate more closely and effectively with Vietnam, supporting capital with new methods, larger scale, preferential interest rates, quick procedures, harmony between the two sides, focusing on a number of large, key, key projects, transforming the situation, changing the state in emerging industries such as artificial intelligence, cloud computing, Internet of Things, large strategic infrastructure projects such as airports, seaports, highways..., projects to respond to landslides and subsidence in the Mekong Delta, Central region, energy centers, solar power, offshore wind power, hydrogen, power transmission systems...

At the same time, the Prime Minister proposed expanding the scale of ADB's operations in Vietnam in the private sector, supporting businesses to participate more deeply in the global supply chain, and providing capital support to the private sector. Vietnam will develop policies to encourage the private sector to borrow capital from partners such as ADB.

The Prime Minister said the Government has directed ministries and branches to actively review and evaluate policies, processes and procedures on ODA and public investment to adjust and improve them towards simplifying procedures, enhancing decentralization and delegation of power, etc.; at the same time, review and resolve problems related to tax exemption procedures.

The ADB President said that he will continue to support and provide capital for Vietnam to realize development goals, especially energy transition, green transition, digital transformation...- Photo: VGP/Nhat Bac

For his part, the ADB President expressed condolences for the loss of life and property in Vietnam due to storm No. 3; and highly appreciated the Government's quick and effective response in responding to and overcoming the consequences of the storm; and said that he had arranged a non-refundable aid of 2 million USD for Vietnam to overcome the consequences of the storm and hoped for quick disbursement.

The President also appreciated the important role of Vietnam in Mekong sub-regional cooperation as one of the founding countries of the Greater Mekong Sub-region (GMS) economic cooperation mechanism with the support of ADB. In its coordinating role through the GMS Secretariat, ADB hopes that Vietnam will continue to actively participate in the GMS framework.

Assessing that Vietnam has great development potential, Mr. Masatsugu Asakawa said that with the role of "Asia's climate bank", ADB will continue to support and provide capital for Vietnam to implement development goals, especially energy transition, green transition, digital transformation, infrastructure development, and the goal of net zero emissions by 2050; as well as support Vietnam's private sector, develop emerging fields such as semiconductor chips, supporting industries, and attract more capital and foreign investment into Vietnam.

The ADB President highly appreciated Vietnam's important role in Mekong sub-regional cooperation as one of the founding countries of the Greater Mekong Sub-regional Economic Cooperation mechanism with ADB's support - Photo: VGP/Nhat Bac

Appreciating and recommending that Vietnam continue its efforts to adjust regulations in a more suitable and simpler direction, he said that ADB hopes to continue receiving support and close direction from the Prime Minister to quickly implement projects.

The Prime Minister said he always welcomes Mr. Masatsugu Asakawa to visit Vietnam again, asked him to always support Vietnam in any position, and affirmed that Vietnam will continue to cooperate well with his successor at ADB.

Source: https://baotainguyenmoitruong.vn/de-nghi-adb-ho-tro-von-cho-cac-du-an-lon-va-khu-vuc-tu-nhan-cua-viet-nam-382800.html