Viet Nam and ADB
In the Spotlight
ADB President Takehiko Nakao met with Viet Nam’s Prime Minister Nguyen Xuan Phuc during a 3-day visit to Ha Noi, where they discussed Viet Nam’s recent economic development and continued ADB support.
The final leg of the 813-kilometer North-South Corridor from Kunming in southern People’s Republic of China to Hai Phong, Viet Nam, was upgraded in 2014. People and goods now flow freely all along the route.
ADB's Board of Directors has approved a $150 million loan to help improve economic connectivity and raise living standards in four of Viet Nam’s northeastern provinces by enhancing basic infrastructure and services.
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
- Basic Infrastructure for Inclusive Growth in the Northeastern Provinces Sector Project
- Basic Infrastructure for Inclusive Growth in the North Central Provinces Sector Project
- Expanding Micro, Small, and Medium Enterprise Lending Project
- Support to Viet Nam Academy of Social Sciences
- Secondary Green Cities Development Project