(CPV) -On the visit to Vietnam for the 5th Asian Development Forum, Asian Development Bank (ADB) President, Takehiko Nakao, held a press conference in Hanoi on September 19. Addressing the event, Mr. Nakao thanked the Ministry of Planning and Investment, and Minister Vinh, for the excellent preparations of the forum.. In his address, Mr. Nakao outlined an 8-point development agenda to ignite and sustain growth in Asia; macroeconomic stability, adequate infrastructure, expanding human capital, open trade and investment regimes, good governance, commitment to inclusive growth, a well-articulated and shared national development strategy, security and political stability. ADB President (right) held a press conference in Hanoi on Sep.19 (Photo: Hoai Ha) Mr. Nakao affirmed that the ADB would support the 8-point development agenda through financing, capacity building, knowledge sharing, and policy dialogue. The ADB President said Vietnam has been among the fastest-growing economies in the world since 1990 and had reached middle-income status in 2010. Economic growth, however, has tailed off – from an average rate of 7.3% during 2000-2007 to 5.7% during 2008-2013 due to slow-moving structural reforms and global uncertainty. Mr. Nakao pointed out that the private sector has an important role to play in boosting Vietnam’s competiveness and avoiding the middle-income trap. The country should also derive maximum benefits from global economic integration through increased trade and investment coming from deeper integration into the ASEAN Economic Community and various free trade agreements. ADB expects Vietnam to grow by 5.6% in 2014, and encourages the government to target a return to 7-8% growth in the coming years. During his two-day visit in Vietnam, the ADB President met with State President Truong Tan Sang, Prime Minister Nguyen Tan Dung, the State Bank’s Governor Nguyen Van Binh, and the Minister of Planning and Investment Bui Quang Vinh. Mr Nakao reaffirmed ADB support in accelerating structural reforms and boosting competitiveness. Speaking with Vietnam’s top leaders, Mr. Nakao said: “Vietnam should be commended for maintaining, macroeconomic and political stability – both key elements for socioeconomic development”. “To solidify the gains made and to restore high and inclusive economic growth, structural reforms – primarily for state-owned enterprises (SOEs) and the banking sector need to be accelerated. The government also needs to manage public debt by broadening the tax base and retionalizing public expenditures.” The Asian Development Forum, first organized in 2010 in Seoul, is an annual forum for government officials, development institutions, and development experts from within and outside Asia to share development experiences and exchange views on the role of official development assistance. “During the past 50 years, Asia’s remarkable economic progress has gained global admiration. When the ADB was founded in 1966, Asia was regarded as a region with pervasive poverty. The most important challenge was how to feed its vast population; the question was whether the productivity growth in agriculture could match population growth”, he said at the press conference./.
Posted on: Mon, 22 Sep 2014 12:11:10 +0000
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