ADB support vital to Việt Nam’s rapid development: PM

Prime Minister Nguyễn Xuân Phúc (R) receives ADB’s Country Director in Việt Nam Eric Sidgwick yesterday. – VNA/VNS Photo Thống Nhất

Addressing a ceremony marking 50 years since the birth of the ADB and 20 years since an ADB resident mission was established in Việt Nam in December, 1993, the PM said that the date had a fundamental role in the partnership between the ADB and Việt Nam.

“Ever since then, the two of us have signed agreements to carry out more than 160 projects worth about US$16 billion,” Phúc said.

“ADB projects in Việt Nam are very diversified and effectively implemented, aiming to support inclusive and sustainable development in the country”.

ADB’s Country Director in Việt Nam Eric Sidgwick said that ever since the organisation was founded in 1966 with Việt Nam one of the founding members, the ADB mobilised and invested some $250 billion in infrastructure, research and knowledge sharing to build prosperity in the Asia-Pacific.

“Since resuming operations in Việt Nam in 1993, the ADB has worked closely with the Vietnamese Government to reduce poverty and support sustainable economic and social development during the nation’s transition from centrally planning to a market-oriented system,” Sidgwick said.

The organisation over the two decades worked with the Southeast Asian country to train 35,000 teachers, build more than 5,000km of national and provincial roads, and install some 1,400 megawatts of renewable energy.

“We also helped to upgrade some 2,000km of national power transmission lines and provided key water supply to some 265,000 households,” Sidgwick said.

“ADB is committed to continue serving the region and to work with all members countries to expand and leverage not just financing but also exchanges of knowledge, expertise and technology to help meet the new, and in many cases more complex challenges ahead.”

PM Phúc expressed wishes that ADB would continue its support to the country, especially in regional co-operation frameworks like the Mekong sub-region, the Ayeyawady-Chao Phraya-Mekong Economic Co-operation Strategy or the CLMV (Cambodia-Laos-Myanmar-Việt Nam) to connect the regional economies and to adapt to climate change.