Minister Ho Duc Phoc met with ADB's new Country Director in Vietnam 28/07/2023 05:31:00 601

Minister Ho Duc Phoc met with ADB's new Country Director in Vietnam, Mr. Shantanu Chakraborty, on the afternoon of July 27. Also present were ADB's Deputy Country Director, Mr. Andrew Jeffries, former Country Directors of ADB Vietnam, and representatives from different units under the Ministry of Finance.

Minister Ho Duc Phoc and Mr. Shantanu Chakraborty

Congratulations to Mr. Shantanu Chakraborty for being trusted and appointed by ADB as ADB's Country Director for Vietnam. Minister Ho Duc Phoc expresses confidence that Mr. Chakraborty will excel in his new role and strengthen the partnership between ADB and Vietnam. ADB has been a valuable ally, providing financial aid and policy suggestions, while also offering timely technical assistance in various areas to assist the Ministry of Finance in enhancing public financial management.

Minister Ho Duc Phoc said: Vietnam and the Ministry of Finance have a longstanding working relationship with ADB. ADB has assisted Vietnam in its socio-economic development by providing technical assistance and financial resources. Vietnam plans to increase investment in socio-economic development, with a focus on infrastructure, particularly in the areas of transport infrastructure, seaports, irrigation, etc. To achieve this, attracting private resources to participate in green energy projects is necessary. Minister Phoc hopes to receive continued effective cooperation and support from ADB, with the ability to directly lend money to state-owned enterprises and the private sector for project implementation without a government guarantee. The Minister emphasized the need to expedite the procedures to sign loan agreements for projects aimed at developing ethnic minorities.

Meeting overview

ADB has expressed gratitude for the support in strengthening the cooperation relationship. They aim to further enhance their collaboration ties with Vietnam's Ministry of Finance and other departments and agencies. Shantanu Chakraborty affirmed that ADB is committed to fulfilling its national partnership strategy to support member nations including Vietnam. He also advised the Vietnamese government and Ministry of Finance to communicate their priorities to ADB for the private sector and public-private partnership projects that require support.

Mr. Shantanu Chakraborty is hopeful that the financial institutions involved in syndicated loans will have a thorough discussion on how to bring conclusive results to projects that will contribute to Vietnam's socio-economic development in the future. This will greatly benefit the country's economic growth.

Thúy Nga