ADB President marks 30-year partnership with Vietnam, pledges support for its long-term development

ADB President Masatsugu Asakawa. (Source: Internet)

“Today we celebrate the 30th anniversary of the partnership between Viet Nam and ADB,” Mr. Asakawa said at a special ceremony in Ha Noi. “Our partnership has improved the quality of life of millions of Vietnamese people—especially members of poor and vulnerable groups, and women and girls.”

The ceremony was held in the presence of the Prime Minister and jointly hosted by the State Bank of Viet Nam and ADB. More than 200 officials and representatives from government, development partners and the private sector attended.

During his visit, Mr. Asakawa met with Prime Minister Pham Minh Chinh, National Assembly Deputy Chairman Nguyen Duc Hai, and other senior government officials including Governor of the State Bank of Viet Nam and ADB Governor Nguyen Thi Hong, and Minister of Planning and Investment Nguyen Chi Dung. He will also meet with Minister of Finance Ho Duc Phoc. 
   
In the last 30 years, ADB’s cumulative assistance to Viet Nam has amounted to about $18 billion, improving regional connectivity; strengthening environmental management and green investment; promoting the transition to climate-resilient development; enhancing access to education, health, and social services; and supporting development of ethnic minority communities.   
 
In his meetings, Mr. Asakawa reaffirmed ADB’s commitment to provide $3 billion in assistance to Viet Nam during 2024-2026 and emphasized the need to enhance project preparation efficiency to accelerate delivery. In addition, ADB has pledged to mobilize $2.1 billion under the government’s Resource Mobilization Plan to support the Viet Nam Just Energy Transition Partnership. 

Viet Nam is among six Association of Southeast Asian Nations members that have committed to “net zero” emissions by 2050. ADB is stepping up its engagement with governments and development partners in Asia and the Pacific to expand climate finance with an ambition to mobilize $100 billion between 2019 and 2030 from its own resources to support climate mitigation and adaptation. 

In addition, Mr. Asakawa visited Selex Smart Electric Vehicles Joint Stock Company, the first company in Viet Nam to receive an equity investment from ADB Ventures, which supports and invests in impactful startups, demonstrating ADB’s support for innovative private sector business models that can play a powerful role in addressing Viet Nam’s climate-related development challenges. 

Mr. Asakawa will also visit Ha Noi College of Electro Mechanics Main Campus under the Skills and Knowledge for Inclusive Economic Growth Project, which aims to upgrade the teaching and learning environments of national high-quality technical and vocational education and training institutes with up-to-date technology./.