- ADB’s country partnership strategy for Viet Nam prioritizes green growth and private sector development.
- The country partnership strategy for Viet Nam will strengthen engagement in the provinces, while retaining strategic involvement at the national level.
- The framework of ADB’s support will build the foundation for Viet Nam toward becoming an upper middle-income country by 2030.
The Asian Development Bank (ADB) on 9 September 2022 launched a new country partnership strategy (CPS) for Viet Nam covering the period 2023–2026. The strategy will help promote inclusive, green, and private sector-led development and build a foundation for the country to achieve its goal of reaching upper middle-income status by 2030. ADB’s new partnership strategy for Viet Nam is anchored on the recognition that the country needs tailor-made solutions to best meet its development challenges. It also takes a provincial focus as this is where Viet Nam’s development needs are greatest. Viet Nam has managed to weather the COVID-19 pandemic and is benefiting from strong economic fundamentals, robust trade and investment, and an ongoing digital transformation. The country also faces multiple development challenges, including private sector competitiveness, the need for sustainable infrastructure financing, and vulnerability to climate change and natural hazards.
