Kunming (VNA) – Prime Minister Pham Minh Chinh received President of the Asian Development Bank (ADB) Masatsugu Asakawa in Kunming on November 6, within the framework of his attendance at the eighth Greater Mekong Subregion (GMS) Summit and working trip to China.

On behalf of the Vietnamese Government and people, Chinh thanked the bank for providing crucial funding for socio-economic development projects, and for its positive contributions to poverty reduction efforts in Vietnam.

Acknowledging the 30-year tradition of strong cooperation, he emphasised the need to further expand the scale of collaboration, proposing that the ADB continue to provide concessional loans for Vietnam’s emerging sectors such as digital transformation, green transition, cloud computing, and large-scale strategic infrastructure projects.

Expressing his hope that the Vietnamese Government will accelerate the disbursement of ADB funds for development projects, Masatsugu Asakawa spoke highly of Vietnam's important role in the GMS, wishing that Vietnam, as a founding member, will continue to actively participate in his bank’s programmes.

The bank is ready to support the Southeast Asian country in achieving net-zero emissions by 2050, he stressed.

Thanking the ADB for consulting on several issues and supporting Vietnam in its period of renewal, Chinh said that the country is continuing to improve its institutions and streamline cumbersome processes and procedures, and considering borrowing bigger amounts to concentrate on large projects related to strategic infrastructure, climate change adaptation infrastructure, renewable energy, and emerging sectors.

He expressed his desire for ADB's attention to and funding for offshore wind power, standard railway, urban metro line, high-speed rail, and anti-erosion projects.

Vietnam hopes to receive experiences from ADB and its President in policy consultations, and in promoting sustainable growth and increasing the economy’s competitiveness, as well as their support for Vietnamese enterprises to participate in the global supply chain.

Appreciating the potential for private sector economic development in Vietnam, the ADB President stated that the bank is facilitating loans to countries at lower interest rates, thereby contributing to mitigating the impact of climate change in the Southeast A🧜sian nation./.