The 44th annual meeting of the Asian Development Bank (ADB), to take place in Hanoi from May 3-6, is a unique opportunity for Vietnam to profile its progression to a middle income country to the entire world.

It is also a chance for the Southeast Asian country to present its view and showcase its achievements in rapid economic growth and poverty reduction, Ayumi Konishi, Country Director of the Asian Development Bank (ADB) in Vietnam, said in a recent interview with Vietnam News Agency.

“I believe Vietnam is one of the very few countries that have successfully linked economic growth directly to the reduction of poverty,” he said.

According to the ADB official, the upcoming meeting is also an opportunity for other countries to better understand Vietnam, because the international event draws the participation of about 3,500 delegates from 67 ADB member countries and observers as well as about 400 reporters.

The meeting will focus discussions on current issues, including economic recovery after the global financial crisis, challenges like inflation, cooking crisis, goods and fuel price hikes, balancing global economic growth post crisis, environment and the financial system.

Government officials will also discuss ADB research on prospects for development in Asia to 2050, he said, adding that there will be a meeting between representatives from ADB, the International Monetary Fund (IMF), Group 20 and ASEAN+3 to discuss the new financial mechanism.

As part of the meeting, the Vietnam Business Summit will be organised with the participation of business leaders, aiming to emphasise Vietnam ’s potential as a business and trade partner and a destination for investors.

Regarding cooperation between ADB and Vietnam , Konishi said that ADB is one of the donors and a major development partner of Vietnam .

ADB is assisting Vietnam with various projects in education, transport, urban and rural development, health care and environment and providing consultations on macro-economic issues and policies for the government, he said.

Since resuming operations in 1993, ADB has approved over 100 loan-funded projects for Vietnam and half have been completed. Ninety-five per cent of the completed projects were rated as successful.

However, he noted that most of the projects have been completed successfully with substantial delays in project implementation and urged Vietnam to accelerate the implementation of projects.

“Project implementation delays do suggest inefficiencies in project implementation,” he said.

The ADB country director affirmed ADB’s future priorities in Vietnam, saying the regional financial institution will focus on knowledge-based areas, such as consultation, consultancy on macro-economic management, acceleration of economic reform and advanced technology application.

Source: VNA