Also attending the event were Mr. Masatsugu Asakawa, President of ADB, Governor of the State Bank of Vietnam Nguyen Thi Hong, leaders of ministries, sectors, agencies, a number of diplomatic agencies and international organizations in Hanoi. Before that, Prime Minister Pham Minh Chinh had a private meeting with the President of ADB.
Motivate and inspire other partners
Speaking at the reception for the ADB President and the celebration, Prime Minister Pham Minh Chinh affirmed that the Vietnamese Government always considers ADB as one of the important, close, trustworthy and effective development partners; highly appreciated the presence of the ADB President in Vietnam on the occasion of the 30th anniversary of cooperation, showing a strong message of looking towards the future with a longer vision and more effective cooperation.
Summarizing the development stages of Vietnam, the Prime Minister said that it can be said that Vietnam is the nation that has suffered the most pain and loss caused by war since World War II. However, from a poor, backward, war-torn country, after nearly 40 years of renovation, Vietnam has achieved great achievements of historical significance. The country has never had the foundation, potential, position and international prestige as it does today.
These achievements are thanks to the spirit of self-reliance under the leadership of the Communist Party of Vietnam, the participation of the entire political system, the consensus of the people and businesses, along with the support and assistance of international friends and partners, including ADB.
The Prime Minister affirmed that Vietnam will never forget the countries, friends and international partners who have supported and helped Vietnam in the most difficult times. Vietnam respects, is grateful and highly appreciates ADB as one of the most enthusiastic partners with effective support in many fields, especially in hunger eradication and poverty reduction in remote areas, border and island areas, health care, education, transport infrastructure development, etc., serving the urgent recovery and development needs in the post-war years. ADB's support also motivates and inspires partners to help Vietnam, making an important contribution to the achievements that Vietnam has made on the path of innovation, international integration and sustainable development.
The head of the Vietnamese Government drew some lessons from experience in cooperation between the two sides: We must closely follow the situation, clearly define the goals and tasks that require cooperation to be correct and accurate; implement with focus and key points in the context of a developing country with a lot of work to do; all levels, sectors and localities must appreciate and effectively use ADB's support, and fight against negativity and corruption.
According to the Prime Minister, after 30 years, the cooperation between Vietnam and ADB has gained more experience and is in its most mature and mature stage; on the other hand, Vietnam and Japan have become Comprehensive Strategic Partners, and cooperation between the two sides is limitless as stated by Japanese Prime Minister Kishida Fumio, especially in science, technology and innovation.
Therefore, cooperation activities between ADB and Vietnam need to be more focused and focused, focusing on development investment, programs and projects that are about changing the situation and transforming the state, instead of focusing on the goal of hunger eradication and poverty reduction as in the previous period, with innovative thinking, methods and procedures.
In the spirit of win-win, harmonious benefits, and shared risks, the Prime Minister hopes that ADB will continue to support Vietnam in terms of capital, technology, institution building, governance capacity improvement, human resource training, policy advice, motivation, and inspiration for other development partners, and implement programs and policies to promote sustainable growth, enhance economic competitiveness, and achieve national development goals by 2030 and 2045.
The Prime Minister proposed that cooperation between the two sides focus on a number of key areas such as climate change response, strategic infrastructure projects, especially in the Mekong Delta, emerging areas such as semiconductor chips, digital economy, green transformation, circular economy, sharing economy, and private sector development.
In particular, climate change response includes many fields such as electricity, transportation, agriculture..., all of which are being vigorously implemented by Vietnam such as the program of 1 million hectares of high-quality, low-emission rice in the Mekong Delta; promoting the production of electric vehicles in the transportation sector... The Prime Minister said that Vietnam has announced the plan to implement the JETP Agreement, making efforts to complete the Plan to implement the Power Plan VIII for promulgation this March, on that basis, it will issue specific projects to use funding from the G7's Just Energy Transition Partnership (JETP) and the Energy Transition Mechanism (ETM) of Japan...
The Prime Minister requested ADB to continue to give Vietnam advice on regulations, institutions, procedures, and share legal experiences of other countries so that Vietnam can learn from them; Vietnam is ready to accept them. The Prime Minister said that he will assign a Deputy Prime Minister to directly direct the continued review and completion of the legal framework on ODA and foreign concessional loans to remove obstacles, shorten approval time, accelerate project implementation, receive and effectively use funding from funding partners in general and ADB in particular; the spirit is to resolve obstacles once and for all, not to let them drag on, and to resolve them at whatever level. In case of obstacles in legal regulations, the Government will report to the competent authority for consideration and decision.
The Prime Minister also asked ADB to continue providing policy advice, especially on macroeconomic, monetary and fiscal policies appropriate to the current rapidly changing situation, both in the short and long term, especially in the face of unforeseen crises.
Vietnam persists in its goal of stabilizing the macro economy, ensuring major balances in all circumstances, both controlling inflation so as not to affect people's lives and promoting growth to enhance national potential.
The Prime Minister suggested that the two sides establish a working group to implement cooperation activities and assign the Ministry of Planning and Investment as the focal point to develop and implement projects; hoping that both sides will make more efforts and determination so that in the next 30 years, cooperation will be better and more effective, in the spirit of sincerity, trust and affection "from heart to heart".
Previously, at a private meeting, the Prime Minister, leaders of ministries and branches, and the ADB President discussed solutions to some specific problems and difficulties in cooperation between the two sides.
ADB Director: Both sides have a special opportunity
Sharing at the ceremony and in the exchange with the Prime Minister, Mr. Masatsugu Asakawa said that he had visited Vietnam many times but this was his first visit as President of ADB; congratulated Vietnam on its impressive and comprehensive socio-economic development achievements over the past few decades despite facing many difficulties due to the global economy and increasing challenges, especially climate change.
The Vietnam-ADB relationship has developed rapidly over the past 30 years, achieving many achievements. Vietnam is one of ADB's most active partners. The total amount of ADB's support capital for Vietnam to date has reached about 18 billion USD. The President reaffirmed ADB's commitment, emphasizing that ADB is always interested in supporting Vietnam to realize its important and ambitious goals, and is expected to mobilize resources of up to 3 billion USD for about 23 projects in Vietnam in the 2023-2026 period.
ADB is ready to continue supporting Vietnam in arranging capital for projects in the areas identified by the Prime Minister, such as energy transition, large-scale infrastructure projects, public-private partnership projects, emerging industries such as artificial intelligence, deeper participation in the global supply chain of semiconductor manufacturing, etc., and developing the private sector, contributing to unlocking private investment capital as well as FDI.
The ADB President highly appreciated Vietnam's participation in addressing global issues such as women's empowerment and especially Vietnam's commitments, vision, determination, efforts and solutions in responding to climate change, achieving net zero emissions by 2050.
As the climate bank for Asia and the Pacific, ADB has committed $2.1 billion to Vietnam to implement the JETP as well as the ETM, a new financial instrument to help coal-fired power plants retire early and use cleaner energy sources. "This is a unique opportunity for us," he said.
Commenting that Prime Minister Pham Minh Chinh has closely directed bilateral cooperation activities, he said ADB will not only better meet Vietnam's requests and support desires but also simplify processes and procedures as requested by the Prime Minister.
"Finally, we would like to express our gratitude for Vietnam's cooperation with ADB, for the development of a beautiful country like Vietnam with people who dare to think and dare to do, which has brought about a wonderful model of cooperation to support the people we serve," he said.
For her part, Governor of the State Bank Nguyen Thi Hong emphasized the role and contribution of ADB to the development of Vietnam in general and the valuable support of ADB in the banking sector in particular, through technical assistance, policy advice for the State Bank of Vietnam, loan programs, and trade finance to commercial banks.
As the representative agency of the Government of Vietnam at ADB as well as other international financial and monetary organizations, during 30 years of working side by side, the State Bank of Vietnam has made efforts to effectively perform its role as the Government's representative, an important bridge linking ADB policies and activities with national development strategies and policies for each period, thereby maximizing the exploitation and use of resources to support priority and important programs and projects of the Government, ministries, branches and localities.
In the coming time, the State Bank will continue to actively and proactively coordinate with ADB as well as other financial and monetary organizations that the State Bank of Vietnam represents to mobilize more resources to support the Government, ministries, sectors and localities to achieve socio-economic development goals.
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