Viet Nam seeks ADB support for large-scale infrastructure projects
VGP - Prime Minister Pham Minh Chinh called on the Asian Development Bank (ADB) to support Viet Nam to implement large-scale infrastructure projects that could help reshape the country’s development trajectory.
Prime Minister Pham Minh Chinh (R) and DB Vice President Scott Morris, Ha Noi, April 16, 2025 - Photo: VGP/Nhat Bac
The Prime Minister made the suggestion during a reception in Ha Noi on April 16 for ADB Vice President Scott Morris on the sidelines of the 4th Partnership for Green Growth and the Global Goals 2030 (P4G) Summit.
The host leader hailed the role and contributions of the international lender to Viet Nam's socio-economic development over the past three decades.
He also expected the visit of the ADB Vice President will contribute to cementing and deepening the cooperation between the two sides, particularly in the areas the Vietnamese Government is prioritizing such as green transition, energy transition, and sustainable and inclusive infrastructure development.
Viet Nam, said the host leader is pursuing three strategic breakthroughs, particularly in transport infrastructure with such major projects as the North-South Expressway, North-South high-speed railway, urban railways in Ho Chi Minh City and Ha Noi, and rail links with Laos. Meanwhile, the country is also strengthening investment in science - technology, innovation, digital infrastructure, education, and healthcare facilities. He took the occasion to call on ADB to continue providing appropriate funding aligned with Viet Nam's orientations, especially for the large-scale projects.
In addition, Pham said that ODA loan-funded projects, including those funded by the ADB, still face various challenges from both Viet Nam and the bank. Hence, he called upon closer coordination to resolve these issues.
Morris, for his part, applauded Viet Nam's recent reforms and macro-economic management, highlighting notable achievements in institutional reform, infrastructure development, and better business environment despite global challenges.
He also commended Viet Nam's strategies towards becoming an upper-middle-income country by 2030 and a high-income nation by 2045, noting these goals create opportunities for the ADB to expand its lending and support activities.
The ADB Vice President in charge of East and Southeast Asia, and the Pacific affirmed the ADB's commitment to standing by Viet Nam in mitigating potential economic difficulties and business challenges in the context of global uncertainties.
He also expressed ADB's willingness to assist Viet Nam in secure financing, especially for the infrastructure projects.
Prime Minister Pham Minh Chinh (center) witness the signing ceremony, Ha Noi, April 16, 2025 - Photo: VGP/Nhat Bac
WB, ADB provide loans for three projects in Viet Nam
Earlier, Pham witnessed a signing ceremony for loan and grant agreements worth a combined US$400 million between Viet Nam and the World Bank (WB) and ADB for three socio-economic development projects in central and southern Viet Nam.
The biggest project involves water environment improvements for the southern province of Binh Duong, with total investment of VND7.2 trillion, and WB loan (from the International Bank for Reconstruction and Development, specifically) stands at about VND5.354 trillion ($230.76 million). The project aims to address environmental pollution caused by urban wastewater in the three cities of Binh Duong.
The second project, Southern Waterway Corridors and Logistics Development Project, has a total investment of VND3.9 trillion, with nearly VND2.5 trillion (US$107.67 million) as loan from the World Bank's International Development Association. It will improve infrastructure, reduce congestion and accidents, and lower waterway freight transport costs by upgrading the East–West and North–South transport corridors, linking the Mekong Delta with the Cai Mep - Thi Vai port cluster. It will also facilitate connection to the future Can Gio International Trans-shipment Port, boosting socio-economic development and ensuring national defence and security in the Mekong Delta and Southeast regions.
The third project, Climate Resilient Inclusive Infrastructure for Ethnic Minorities Project II in Phu Yen – Quang Tri provinces has a total investment of VND1.8 trillion (about US$69.64 million).
Since 1993, the ADB has committed over US$18 billion in loans and grants to Viet Nam, focusing on transport infrastructure, clean energy, vocational training, rural development, and climate change resilience—especially in disadvantaged and ethnic minority regions.
WB and ADB are long-standing strategic development partners of Viet Nam, having supported the country's efforts in poverty reduction, infrastructure development, governance, and sustainable development goals for decades./.
