Viet Nam and ADB
In the Spotlight
ADB President Mr. Takehiko Nakao participated in the 6th GEF Assembly held 24–28 June in Da Nang, Viet Nam. During his visit, Mr. Nakao met with Viet Nam Prime Minister Mr. Nguyen Xuan Phuc and the Chairman of the Da Nang City People’s Committee Mr. Huynh Duc Tho.
ADB's Board of Directors has approved $350 million in additional headroom to further expand the scope and impact of its Trade Finance Program (TFP), helping to close large market gaps for trade finance that impede growth and job creation.
This country brief summarizes how the partnership of ADB and the Government of Viet Nam has been instrumental to the development of the country.
Viet Nam’s economic growth has been increasing since 2011, while inflation has remained in single digits. Well-balanced macroeconomic policies have helped restore stability and investor confidence, with growth being propelled by a surge in foreign direct investment and export-oriented manufacturing.
Viet Nam needs to continue to develop a more dynamic market economy—one that can compete globally and deliver sustainable, equitable growth over the long term. Despite remarkable achievements in reducing poverty, serious development challenges remain, with income and other socioeconomic gaps still evident in pockets of ethnic minorities and other vulnerable groups.
ADB's country partnership strategy for Viet Nam focuses assistance through three pillars: promoting job creation and competitiveness, increasing the inclusiveness of infrastructure and service delivery, and improving environmental sustainability and climate change response.
Viet Nam is a member of the Greater Mekong Subregion (GMS).
Projects in Viet Nam
- Enhancing ADB’s Support for Social Protection to Achieve the Sustainable Development Goals
- Mekong Tourism Innovation
- Strengthening Asia's Financial Safety Nets and Resolution Mechanisms
- Capacity Building Program for Journalists in Developing Member Countries, 2018-2019
- Basic Infrastructure for Inclusive Growth in the Northeastern Provinces Sector Project