PM: ADB accompanies VN’s development

Photo: VGP

PM Dung made the statement at a meeting with Eric Sidgwick, new Country Director of the ADB in Viet Nam on September 21.

Sidgwick mentioned the ADB’s positive forecast on Viet Nam’s economy thanks to consistent and effective administration, saying that the bank would raise its forecast on Viet Nam’s economic growth to 6.5% in 2015 and around 6.6% in 2016.

He said that the ADB is working with relevant agencies to develop a five-year strategic plan on supporting Viet Nam, in which the bank will offer long-term loans at low interest rates to projects and programs on building essential socio-economic infrastructure and sustainable development.

The PM praised the ADB’s effective cooperation, as contributing to stabilizing the macro-economy and promoting sustainable development in Viet Nam.

He said that the ADB’s evaluations and forecast are quite close to reports by Viet Nam’s relevant agencies though the Vietnamese Government has not satisfied with the results, especially the target of controlling sustainably the macro-economy in the situation of unpredictable changes of the world’s economy.

The leader reiterated the Vietnamese Government’s consistent policy on controlling and ensuring macro-economic stability for the economy’s sustainable growth; as well as restructuring the economy, particularly the public investment, the State-owned enterprises and the financial and banking system.

PM Dung said that the bad debt has been decreased from 17% to 3% as poorly-operated banks have been restructured.

Regarding public debts, the leader affirmed that the Government’s underway solutions have ensured the security and effective uses of public debts, in which the debts are controlled safely as regulated, the repayment is timely and the capital is used effectively in developing the essential socio-economic infrastructure.

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