ADB will provide capital for Vietnam's energy transition, green transition

TPO - Mr. Masatsugu Asakawa - President of the Asian Development Bank (ADB) - said that, with the role of "Asia's climate bank", ADB will continue to support and provide capital for Vietnam to implement development goals, especially energy transition, green transition, digital transformation, infrastructure development, and achieve the goal of net zero emissions by 2050.

TPO - Mr. Masatsugu Asakawa - President of the Asian Development Bank (ADB) - said that, with the role of "Asia's climate bank", ADB will continue to support and provide capital for Vietnam to implement development goals, especially energy transition, green transition, digital transformation, infrastructure development, and achieve the goal of net zero emissions by 2050.

On the morning of November 6, in Kunming city, Yunnan province, during his working trip to China, Prime Minister Pham Minh Chinh received Mr. Masatsugu Asakawa - President of the Asian Development Bank.

Prime Minister Pham Minh Chinh thanked ADB for its 30 years of cooperation and development with Vietnam. The Prime Minister affirmed that the Vietnamese Government always considers ADB as one of the important, close, and trustworthy development partners, with many practical contributions to Vietnam's development process.

Prime Minister Pham Minh Chinh suggested that in the new development period, ADB should continue to cooperate more closely and effectively with Vietnam, supporting capital with new methods, larger scale, preferential interest rates, quick procedures, and harmony between the two sides.

Prime Minister Pham Minh Chinh received Mr. Masatsugu Asakawa - President of ADB. Photo: Nhat Bac.

The Prime Minister requested ADB to focus on providing capital support for a number of large, key, and pivotal projects that are transformational and state-changing in emerging industries such as artificial intelligence, cloud computing, the Internet of Things, large strategic infrastructure projects such as airports, seaports, highways, etc., projects to respond to landslides and subsidence in the Mekong Delta and the Central region, energy centers, solar power, offshore wind power, hydrogen, and power transmission systems, etc.

The Prime Minister proposed expanding the scale of ADB's operations in Vietnam in the private sector, supporting businesses to participate more deeply in the global supply chain, and providing capital support to the private sector. Vietnam will develop policies to encourage the private sector to borrow capital from partners such as ADB.

According to Prime Minister Pham Minh Chinh, the Vietnamese Government has directed ministries and branches to actively review and evaluate policies, processes and procedures on ODA and public investment to adjust and improve them towards simplifying procedures, enhancing decentralization and delegation of authority; and review and resolve problems related to tax exemption procedures.

At the meeting, the ADB President expressed condolences for the loss of life and property in Vietnam due to storm No. 3; at the same time, he highly appreciated the Government's quick and effective response in responding to and overcoming the consequences of the storm; said that he had arranged a loan of 2 million USD for Vietnam to overcome the consequences of the storm and hoped for quick disbursement.

The ADB President highly appreciated Vietnam's important role in Mekong sub-regional cooperation as one of the founding countries of the Greater Mekong Sub-region (GMS) economic cooperation mechanism with the support of ADB. In its coordinating role through the GMS Secretariat, ADB hopes that Vietnam will continue to actively participate in the GMS framework.

Mr. Masatsugu Asakawa said that as "Asia's climate bank", ADB will continue to support and provide capital for Vietnam to implement development goals, especially energy transition, green transition, digital transformation, infrastructure development, and achieve the goal of net zero emissions by 2050.

ADB also supports Vietnam's private sector, developing emerging fields such as semiconductor chips, supporting industries, attracting more capital sources and foreign investment into Vietnam...

Truong Phong (from Kunming, China)

Source: https://tienphong.vn/adb-se-cap-von-cho-viet-nam-chuyen-doi-nang-luong-chuyen-doi-xanh-post1689118.tpo