Deputy PM urges acceleration of ADB-financed projects
Deputy Prime Minister Tran Luu Quang on July 31 called for acceleration of Asian Development Bank (ADB) financed projects, while hosting ADB Country Director for Vietnam Shantanu Chakraborty in Hanoi.
Deputy Prime Minister Tran Luu Quang (R) and ADB Country Director for Vietnam Shantanu Chakraborty. (Photo: VNA)
Hanoi (VNA) - Deputy Prime Minister Tran Luu Quang on July 31 called for acceleration of Asian Development Bank (ADB) financed projects, while hosting ADB Country Director for Vietnam Shantanu Chakraborty in Hanoi.
Acknowledging the bank’s support for the country over the past three decades across areas, particularly poverty alleviation in remote, border and island areas, and health care, education, and transport infrastructure development, in the nation’s post-war recovery and development, Quang said that the assistance by the lender has created motives and inspired other partners to help Vietnam record achievements during its renewal, international integration and sustainable development.
He spoke highly of the ADB’s efforts in mobilising resources for 23 projects in Vietnam for the 2023-2026 period, adding the country will continue reviewing and completing legal framework on Official Development Assistance and foreign loans to remove bottlenecks, and accelerate the implementation of the projects as well as reception and effective use of funding from partners and the ADB in particular.
The official expressed support for the bank’s restructuring efforts to improve its funding efficiency for countries.
Shantanu Chakraborty, for his part, congratulated the Vietnamese Government for maintaining high economic growth amidst global headwinds, adding the bank has forecast the Vietnamese economy to expand 6% in 2024 and 6.2% in 2025.
As Vietnam is an important partner of the ADB and the largest user of its commercial funding, the bank hopes for close coordination with the country for the harmonisation of procedures to speed up lending activities, especially for key projects and those on green growth and emissions reduction.
As of 31 December 2023, ADB had committed 458 p🍃ublic-sector loans, grants, and technical assistance totaling 16.5 billion USD to Vietnam./.
The Asian Development Bank (ADB) has revised its economic growth forecast for developing Asia slightly up thanks to stronger domestic demand and export growth.
The Asian Development Bank (ADB) and Lien Viet Post Joint Stock Commercial Bank (LPBank) on June 12 signed a financing package of up to 80 million USD to expand access to finance for a women-owned small and medium-sized enterprises (WSMEs) project in Vietnam.
To accelerate growth, stronger measures are required to address domestic structural fragilities, such as heavy reliance on FDI-led manufacturing exports, weak linkages between manufacturing export industries and the rest of the economy, an overreliance on bank credit, and complex regulatory barriers to business.
The trip will be made at the invitations of Chinese Premier Li Qiang and WEF President and CEO Børge Brende, according to an announcement from the Ministry of Foreign Affairs.
Long spoke highly of the dynamic, positive, and comprehensive development of Vietnam – Russia relations in recent years. He affirmed that the Vietnamese Party and State place great importance on further strengthening the comprehensive strategic partnership with Russia in a substantive and effective manner, in line with the development needs of both nations.
At the conference, participants reported that the Government has so far issued 28 decrees on the delegation of responsibilities and powers between the central Government and two-tier local administrations. Several localities have already piloted the new governance model.
Reality is the ultimate benchmark for success, he said, urging drafting agencies to work out policies that foster development, reduce bureaucratic hurdles, and respect practical conditions.
Under the official dispatch signed on June 20, ministers, heads of ministerial-level agencies, and chairpersons of provincial and municipal People’s Committees are requested to concentrate efforts on implementing core measures to ensure the smooth operations of the new administrative framework.
The Party chief underscored the need for the press to innovate relentlessly, evolve to keep pace with the country's development, transform into a truly professional, humanistic, and modern sector that serves the cause of the Party, the State, and the people on the path to national construction and development.
The UN Secretary-General praised Vietnam’s remarkable achievements in socio-economic development and international integration in recent years, noting that the country has emerged as a model in implementing the Sustainable Development Goals (SDGs), promoting international peace and security, and engaging in key UN processes.
Nghia affirmed that this is a milestone of special significance, affirming and honouring the the Vietnamese revolutionary press’s glorious tradition of 100 years of serving the revolutionary cause of the Party, serving the Fatherland, and serving the people.
The Party and State of Vietnam always attach great importance to and give top priority to the development of Vietnam–China relations. Vietnam is ready to work with the Chinese Party and State to further deepen the Comprehensive Strategic Cooperative Partnership and promote the building of the Vietnam-China community with a shared future that carries strategic significance.
Under the leadership of President Ho Chi Minh and the CPV, President Cuong said, the press has been a steadfast force on the ideological and cultural front, rallying the masses to pursue national aspirations.
NA Chairman Tran Thanh Man stressed the need to accelerate the application of artificial intelligence and smart teaching equipment, innovate teaching and assessment methods, and further improve the quality of formal education.
He also pledged that the NA will promote its ongoing supervision, making sure that every promise must lead to results, and every commitment must bring about real changes.
Minister of Industry and Trade Nguyen Hong Dien welcomed the proposals put forward by the US side and reiterated Vietnam’s request for consideration of key areas of interest, including reciprocal tariff policies and access for Vietnamese key export products to the US market.
Deputy PM Le Thanh Long proposed countries promote shared values, including building trust, sincerity, and solidarity among nations and peoples; fostering cooperation spirit and responsible behaviour as well as upholding international law and the UN Charter; and placing people at the centre and as the goal, the key player, and the driving force of all policies.
The show, together with a grand parade to be held silmutaneously at Ba Dinh Square in Hanoi, will celebrate the 80th anniversary of the August Revolution, the National Day, and the General Staff of the Vietnam People’s Army (VPA).
In particular, in April 2023, the two sides successfully carried out a joint operation that dismantled a major organised, transnational drug trafficking ring involving both Vietnamese and Cambodian suspects.
The Vietnamese Embassy in Israel is closely coordinating with relevant local agencies to stay informed and provide the utmost support possible for Vietnamese nationals.
The launch of Thanh Nien (Young People) newspaper in 1925, even before the founding of the Communist Party of Vietnam, is considered a testament to President Ho Chi Minh’s strategic foresight and strong belief in the guiding power of the revolutionary media.
