Media Center

News Release

Panel Exhibition on Viet Nam-ADB Partnership Opens

HANOI, VIETNAM (13 June 2007) – A Panel Exhibition on partnership between Asian Development Bank and Viet Nam has opened today at Ly Thai To Garden in Hanoi with the opening ceremony attended by Minister for Planning and Investment Vo Hong Phuc, State Bank of Viet Nam Deputy Governor Tran Minh Tuan and ADB Vice President C. Lawrence Greenwood Jr. as well as other senior Government officials, Ambassadors and heads of development agencies, to commemorate the 10^th Anniversary of the Viet Nam Resident Mission (VRM) of the Asian Development Bank.

The exhibition, comprising 20 panels and entitled “Partner in Change,” profiles ADB-assisted projects in the northern, central and southern regions of Viet Nam. It also contains an announcement of an essay contest for students between 13 to 18 years of age to describe Viet Nam’s vision for the year 2030 in 2030 words. After Hanoi, the panels will be also displayed in Ho Chi Minh City and Da Nang.

“We wanted to celebrate Viet Nam Resident Mission’s 10th Anniversary with the Government and people of the Socialist Republic of Viet Nam,” says Vice President Greenwood, “we hope many people who come to Ly Thai To park will take a brief moment to go through these panels.”

As the volume of operations grew, ADB established its VRM in Hanoi in 1997, with 5 staff – which has now grown to 29 staff to provide more efficient services and better understand Viet Nam’s development challenges.

Greenwood expressed appreciation for “the Government’s courageous leadership in the rapid transformation of Viet Nam through sound macroeconomic management and robust economic reforms that have resulted in rapid economic growth and poverty reduction” and pledged the ADB’s continued commitment to support Viet Nam’s plans to achieve become a middle-income country in the near term and industrialized country by 2020.

ADB resumed its operation in Viet Nam in 1993 and since them, approved in total 63 loans amounting to $3.8 billion, 194 technical assistance grants totaling 140 million and 17 other grants amounting to $87 million. ADB investment in private sector is for 7 loans with total amount of $255 million. Looking ahead, ADB’s annual lending, which amounted to $308 million in 2006, is expected to increase over $1 billion in 2007.

Over the past decade, ADB support has helped build 1,500 kilometers of roads in Viet Nam, provided 6.7 million people with clean water and sanitary facilities, and brought irrigation to 200,000 hectares of land.

ADB grants and loans have also helped millions of families by providing support for income generation and livelihood programs for the rural poor, nutrition programs for vulnerable children, health care services in the Central Highlands and HIV/AIDS prevention for vulnerable youth.

ADB’s next phase of support for 2007-2010 will focus on business-led pro-poor economic growth, social equity and balanced development, and environmental sustainability including both natural and also urban environment, as Viet Nam makes its transition to a middle-income country, with programs that:

• expand secondary education opportunities in disadvantaged regions;
• increase power generation to meet the country’s growing energy needs;
• further financial sector reform;
• develop urban infrastructure – including the Hanoi and Ho Chi Minh City Metro Rail Systems;
• expand water and sanitation services in rural areas;
• develop irrigation, transport and other rural infrastructure;
• expand road networks to foster commerce and development; and
• extend health care services to more poor families.

Contacts