PM Chinh made the call at his meeting in Hanoi on April 16 with Scott Morris, ADB Vice President (East and Southeast Asia, and the Pacific), who is in Vietnam for a working trip and attendance at the 4th Partnership for Green Growth and the Global Goals 2030 (P4G) Summit.

The PM praised the ADB’s role and contributions to Vietnam's socio-economic development over the past three decades, expressing his confidence that the ADB Vice President’s visit will contribute to deepening the cooperation between the two sides, particularly in the areas the Vietnamese Government is prioritising such as green transition, energy transition, and sustainable and inclusive infrastructure development.

Highlighting the ADB's support for Vietnam, particularly its long-term and stable financing, experience in implementing major projects, and technical assistance, PM Chinh acknowledged that ODA loan-funded projects, including those funded by the ADB, still face various challenges from both Vietnam and the bank, and urged closer coordination to resolve these issues.

Reviewing Vietnam's recent socio-economic achievements amid ongoing global trade tensions, he underscored that while current difficulties may not compare to the past ones, Vietnam is actively working to overcome them.

Vietnam is implementing comprehensive solutions to maintain macro-economic stability, ensure major balances, and maintain investor confidence, PM Chinh said, stating they include diversifying markets and supply chains, capitalising on the signed free trade agreements, improving the investment climate, enhancing intrinsic strength and economic competitiveness, while maintaining flexible fiscal and monetary policies to stabilise exchange rates and control inflation, and accelerating administrative reform.

The PM unveiled Vietnam's focus on three strategic breakthroughs, particularly in transport infrastructure with such major projects as the North-South Expressway, North-South high-speed railway, urban railways in Ho Chi Minh City and Hanoi, and rail links with Laos. He also highlighted Vietnam’s investment in science - technology, innovation, digital infrastructure, education, and healthcare facilities.

PM Chinh requested the ADB to continue providing appropriate funding aligned with Vietnam's orientations, especially for the large-scale projects he outlined.

Morris, for his part, praised the Vietnam's recent reforms and macro-economic management, highlighting notable achievements in institutional reform, infrastructure development, and better business environment despite global challenges. He also commended Vietnam's strategies towards becoming an upper-middle-income country by 2030 and a high-income nation by 2045, noting these goals create opportunities for the ADB to expand its lending and support activities.

He affirmed the ADB's commitment to assisting Vietnam in mitigating potential economic difficulties and business challenges in the context of global uncertainties. He also asserted the ADB's readiness to help Vietnam secure financing, especially for the infrastructure projects.

Earlier, PM Chinh witnessed the signing of loan and grant agreements totaling US$400 million from the World Bank (WB) and ADB, helping Vietnam improve the environment, develop logistics system, and build climate-resilient infrastructure.

PM hopes for more fruitful Vietnam-ADB partnership

Vietnam and the Asian Development Bank (ADB) have cooperated fruitfully over the past 30 years, and their cooperation is expected to grow further in the next three decades, Prime Minister Pham Minh Chinh said on March 13.