Mr. Takehiko Nakao announced the commitment while speaking at a press conference in Ha Noi on June 17 before wrapping his three-day visit to Viet Nam.
The strategy targets to support the recipient country to boost uniform and sustainable growth to catch up with its socio-economic development plan in the 2016-2020 period.
The President suggested Viet Nam continue realizing suitable economic policies as well as in-depth renovation, he suggested, stressing the importance of restructuring State-owned enterprises by reducing State ownership and improving business management and financial efficiency.
He also suggested the Vietnamese Government resolve bad debts, increase tax income and streamline public expenditure.
The ADB expects that Viet Nam would attain 6.7% economic growth in 2016, equal to that of 2015 despite the serious drought the country has faced. Growth rate was forecast at 6.5% in 2017.
Regarding priorities in the bilateral partnership in the coming time, Mr. Takehiko Nakao announced that the lender will back Viet Nam’s efforts to fulfill its sustainable development goals; expand public healthcare stations; increase the number of people joining health insurance; improve secondary education and vocational training.
Viet Nam will also get support in infrastructure development, including public transport systems, power transmission and distribution, rural electrification, urban renewable energy infrastructure, irrigation and water resource management.
The ADB will work for stronger connectivity within the Mekong Sub-region Cooperation Program, including the East-West Economic Corridor, he added.
Climate change adaptation will be one of ABD’s focus areas to provide technical assistance and loans. In addition, the ADB will help the Vietnamese Government design clear policies on suitable energy distribution to match its COP21 commitments, he said./.